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
  • 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.
  • 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 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.
  • 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.


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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