- SPY is filling the Yesterday's GAP. But price is still below the cloud.
- If 50 Hour moving average and Cloud acts as resistance only a partial filling of the GAP will be possible.
- Hour chart will favor of bulls only if price breaks above the cloud and 50 Hour moving average.
- ES SUPPORT LEVEL
Posted by San at 11:00 PM
- AAPL Hour chart shows price breakout above a channel formation.
- Price has gone above 50 Hour moving average.
- But the trend in Hour chart will turn completely in favor of bulls only above 200 Hour moving average. Till then Bears may try top sell this rise of AAPL.
- ES SUPPORT LEVEL
Posted by San at 7:22 PM
- ES Finds support near 1294 level. Price did broke 1294 But could not sustain below it. For bears they should try to close and sustain below 1294 for bigger correction to happen.
- 50 Day Moving Average is an important level. For now price is below it. Bulls will be comfortable to hold longs only if price stays above 50 day moving average.
Posted by San at 6:46 PM
- MACD in daily has given a sell There is a conflict there because MACD week is still favoring bulls.
- Price resting at 38.2% and 200 DMA So breakdown from here will push nifty below 5700 towards 5650 levels.
- Nifty Week is showing a big triangle pattern. Rules of the triangle gives a breakout target of 1549 points. If price moves down towards the support line of the triangle We will get a perfect triangle pattern.
Posted by San at 7:11 AM
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.