April 11, 2011

  • Will apple hold on to the support line of the Triangle.
  • If Price closes above the support line we may see an up move towards the resistance line of the triangle.
  • Breaking down and closing below the support line will favor the bears of AAPL.
  • AAPL Weekend Update: CLICK HERE
CHART-II
  • ES Breaks 1318.50. If price sustains below 1318.50 then it can drift lower towards 1313 level which is the next Support level in chart.
CHART-I
  • ES seems to be stuck in a small range.
  • 15 Minutes chart with Fib levels shows price moving between 38.2% - 61.8%.
  • Decisive Break from these two fib levels can give the next direction towards 1335 or 1318. 
  • TREND OF EURUSD
  • Trend of EURUSD will remain up as long as price stays above the trend line shown in first chart.
  • Price continue to close above 20 day moving average which is good for the bulls.
  • Weakness will be seen only if the trend line is violated or price closes below 20 day moving average.
  • S&P 500 WEEKEND UPDATE
  • Nifty hour is near 100 Hour moving average.
  • Price is staying below 23.6% Fib level.
  • If price comes back and stays above 5802 we may see a pull back today itself.
  • If price sustains below 5802 Nifty will drift lower towards 5715 level which is 38.2% Fib level

  • Nifty Weekly chart has given a reversal candle near Golden ration.
  • Price breaking above 61.8% again will give good upward momentum for nifty.
  • Price still stands above Week High Ema which is the main support for bulls.
  • Hourly chart is showing a channel. Lowe breakout from this channel will be negative. Upper breakout will favor bulls.
  • BANK NIFTY WEEKEND UPDATE

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore