- During the last up move price turned down from 12750 levels.
- Today's Up move too is finding resistance at the same place.
- This does not mean that price is going to fall from here.
- MACD shows developing negative divergence. But there are chances of price making another high before negative divergence shows its effect.
- If price closes the day below 12750 levels then chances of a correction is there.
Posted by San at 11:56 PM
- SPX has done the 78.6% Fib retrace for the fall from 1356 to 1295 levels.
- If the Trend line and the Cloud gives support 1356 level is possible soon.
- Price breaking below the trend line or cloud will be negative.
- Steep rise in price may give a buy on dip chance which can take price higher.
- If 78.6% Acts as stiff resistance then a 100% Reversal to 1356 may get delayed.
Posted by San at 8:42 PM
Posted by San at 6:14 PM
Posted by San at 3:36 PM
Posted by San at 1:23 PM
- Nifty is showing bearish price action.
- Price has fallen below the middle bollinger band in both daily and weekly chart.
- Price has given a bearish engulfing pattern in daily time frame.
- But a trending down move may only happen when price closes below 5 day low ema which is yet to happen.
- Bearish Engulfing pattern needs confirmation. A long black candle or a high volume sell offs can be taken as confirmation for bearish engulfing. So in this case breaking 5550 and further breakdown below 5496 can give clues for a breakdown.
- When price breaks 5496 the MACD sell signal may start to work well.
- 50 DMA is @ 5506
- D Day Low Ema is @ 5556 (Yesterday's Values)
- NIFTY - 5 MINUTES HEAD AND SHOULDERS UPDATED
Posted by San at 8:27 AM
- Price in daily chart remained above 50 and 20 day moving averages.
- We have a Bullish cross over of the above mentioned moving averages and if prices remains above them it will move higher.
- Today's candle suggests some weakness but follow up selling needed for a bigger correction to unfold.
- Hour charts shows price getting stuck @ 50% Fibonacci level.
- Hour chart also shows a possible Inverted Head and Shoulders pattern possibility.
- But if the correction is large as shown with the last chart things will turn bearish again.
- ES INTRADAY ANALYSIS -CLICK HERE
Posted by San at 4:43 AM
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.