April 28, 2011

  • Russel 2000 Four hour chart.
  • Price has gone above resistance level of 855. After breakout price is retesting this level.
  • Price sustaining above 855 will be bullish for Russel 2000.
  • Range from which the breakout happened was about 40 points. Weekly close above 855 may take Russel 2000 to  890 and above in the short term.
  • Price sustaining below 855 will favor bears.
  • ES Four hour chart shows main support for ES now between 1336 - 1338 level.
  • Price closing below the above mentioned level will be negative for bulls.
  • Price is trending up above 50 Hour moving average. Price dipping towards this Moving average can be used to go long again.
  • AMAZON Daily chart has given a breakout. 
  • Volume has also spiked above the daily average volume.
  • Week chart was trading in a range of 160 - 190.
  • Price has violated this range. If Week closes and sustains above 190 Amazon will TARGET 215 and above in the coming weeks.
  • Price falling below 190 will be negative for the bulls.
  • SLV CHART ANALYSIS
CHART-II
  • Nifty Closed below the support line.
  • We may see nifty moving towards the lower end of the range before going up.
CHART-I
  • Nifty has violated the support line in hour chart.
  • Now Bulls has to hope that this is a false break below the support line.
  • Reliance has broken the important support at 1000. This number was between 50 and 200 day moving averages which makes it more important.
  • As shown in the 2nd chart Break below and above 20 DMA has given nice trending moves recently. so this should work again But have the trailing stop in place.
  • We discussed about selling the stochastic in weekly chart, This has worked and the profits for bears might extend if price sustains below 1000 level. 
  • RLEIANCE SELL THE STOCHASTIC
  • AAPL Daily chart with 50 day moving average.
  • Price is consolidating above 50 DMA. If continue to stay above 50 DMA price will give hope for bulls
  • Daily candle closing below 50 DMA will favor bears.
  • Hour chart of GOLD has give a breakout above recent high of 1518 level.
  • Hour was forming a range from 1492 - 1518.
  • This breakout should give more than 20 points for gold which should take it passed 1535 level in the short term.

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