April 24, 2011

DAILY CHART
 WEEKLY CHART 
WEEKLY CHART
 
TREND OF THE STOCK
  • First chart is the daily time frame which shows 20 day and 50 day moving average showing a bullish crossover. We may see the stock move higher towards 15.98 levels in the coming week.
  • 2nd Chart is the weekly chart on closing basis. And previous resistance was around 14.21 This level has given support for the stock. Previous resistance acting as support.
  • 3rd Chart shows the Bullish Engulfing pattern on the support level. Breakout and close above 15.98 can give good upward momentum for Ford Motor.
  • 4th chart shows the longterm structure of the stock which favors bulls. look how the Support levels are getting higher.
  • CISCO - Three Reasons for a LONG Trade
  • India VIX in daily time frame is near an important support and resistance line. One can expect a big move in nifty when VIX Breakout happens.
  • One more thing to note is that VIX has closed below its 50 day and 20 day moving averages. So if it sustains below these levels we can see Nifty continue its upward journey towards 6000 and above.
  • Stochastic in reliance weekly chart is approaching 80% levels. This range of reliance has give good short trades at the higher levels.
  • Now if stochastic turns down again we will get another sell.
  • Price in Daily chart is fighting against a resistance line. Price has come up from 885 to 1065 during the current up move. Price has broken that trend line. Now if price does not break and close above the resistance line we will get a sell.
  • So what to do now.
    • Look for weakness below 1020 to  SELL (confirm with the weekly stochastic it should trigger a sell)
    • Stock will be strong on a close above1050 one can try to go long for 1065 and more.

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.

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"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