June 27, 2011

  • ES four hour chart with support and resistance lines.
  • Price is approaching a resistance line as shown in four hour time frame.
  • Getting resisted here will take ES towards 1260 levels again. 
  • Violation of the resistance line will favor bulls.
  • SLV Daily time frame is testing an important support level.
  • Price closing below 32.76 will favor bears.
  • Price continue to stay below 50 and 20 day moving averages.
  • SLV will continue to trend down if it stays below 20 DMA and below 32.76 level.
  • S&P 500 WEEKEND UPDATE
  • EURUSD Daily chart is near the support line of the triangle pattern
  • If price gets support here it may start to move up towards the resistance line of the triangle.
  • For now price is below the 20 week moving average which is negative for the pair.
  • S&P 500 WEEKEND UPDATE
  • SBI is showing good upside momentum
  • Price may pause at 2356 level which was the recent swing high.
  • Bigger up moves will be possible only on breaking and closing above 2356 level.
  • Tata motors May form a bottom formation at the current levels.
  • If the Golden ratio and Hammer holds we may see the stock moving up soon.
  • One can wait for Price to close above 20 day moving average to buy the stock.
  • NIFTY WEEKEND UPDATE

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