June 12, 2011

  • AAPL has closed exactly at the weekly trend line.
  • Further weakness on this stock will be seen only if the trend line and the range gets broken. 
  • Next chart shows price trading at the lower end of the range. 320 is an important level for bulls to defend.
  • Weekly chart has a bearish engulfing and shooting star candles . But for weakness to continue price should break this trading range on the downside.
  • This Range of reliance in weekly chart has given some great trades.
  • Last Successful trade of RELIANCE was SELL the weekly stochastic. which gave great result.
  • Now again Stochastic is giving a buy.
  • Stock should remain above 919 level on closing basis for this trade to work well. If all goes well i am expecting reliance to cross 1000 in the coming weeks.
  • RELIANCE - SELL the weekly stochastic
  • BIDU Daily chart shows price near support level 115 - 118. 
  • Price is also near its 200 Day moving average which might result in a bounce from this level.
  • Stochastic in daily chart is in oversold area
  • Weekly chart also shows price hitting an important trend line. 
  • Price closing the week above 120 will favor bulls. Price closing week below 120 will make the structure further weak.


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