April 22, 2011

  • First chart is the Weekly time frame with Fibonacci levels for the rise from $13.61 TO $27.74. 
  • Price is trading at 78.6% for the above mentioned range. Week candle has given a DOJI at 78.6% Fib level.
  • Next chart shows a previous resistance turning as support scenario. Current week closing has acted as resistance previously and price is closer to the channel support line. So this confluence of support may give a bounce.
  • Third chart shows MACD positive divergence which can help the stock to bounce.
  • And if all the reasons fail stock may start to go down again so one should put a tight stop loss below 16.59 level.
  • INTEL CHART ANALYSIS
  • In weekly chart price is moving towards the resistance line which is between 22 and 23.
  • Stochastic indicator has just turned up from oversold level, If resistance line gets broken we can see further upsides for the stock.
  • Daily time frame shows a gap in chart which is negative for the bulls. But price is above 50 and 200 day moving averages Sustaining above this important for the bulls.
  • THREE REASONS TO GO LONG IN CISCO
  • Bank nifty with a possible inverted head and shoulders pattern.
  • Breakout above 11950 level can give good trade.
  • Range in daily chart too is not yet broken 
  • Range is from 11480 to 11950 level.
  • ES is showing a range from 1322.75 - 1337.50. 
  • 1329.50 is the support resistance zone inside the range.
  • Price breaking the lower or upper boundary can give good direction.

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