May 9, 2011

  • AAPL Moves closer to the apex of  a  triangle pattern in hour chart.
  • It looks like a descending Triangle So Breakdown of the support line should give a good short trade. One cannot rule out the upper breakout too.
  • Price has lost momentum, Breakout or breakdown can give good direction for the stock. 
  • SLV is near the gap and 23.6% Fib level. 
  • GAP fading and crossing 38.6% level may target 41.20 levels and higher.
  • Failing to cross the GAP may Give New lows for SLV.
  • ES one hour charts with cloud and 200 Hour moving average.
  • Price is struggling to break the cloud. Price not able to sustain the cloud breaks.
  • Price not able to cross 200 Hour moving average.
  • If price closes and trades below 1331.50 bears will be stronger.

  • Nifty is trading in a range as shown in 15 minutes chart.
  • Range is from 5443 - 5586.
  • Break of the dotted line can bring nifty down towards the lower end of the range.
  • Conclusion from the above charts: If price stays above 5550 it is better to stay long for 5650. Price slipping below 5550 will be negative for the bulls.


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.


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