July 30, 2011

  • Click the charts to enlarge.
  • Conclusion: It will be safe to stay long above 50 Day Moving Average. Shorts are safe below 200 DMA. But shorts should keep in mind the weekly trend line or the support line of the wedge in weekly chart.
  • Description is clearly mentioned in the chart so click the charts to enlarge.
  • Conclusion: Stay short below 50 DMA. Price staying below Day low EMA will also help bears. Close above 50 DMA will be negative for bears. Strength for bulls only above 5605 level. One can also try to sell on rise. 5530 - 5560 is a shorting zone. But once hour starts to close above 5560 levels it will be risky for bears to remain short.
  • S&P 500 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