August 22, 2011

  • Bulls are struggling below the hour cloud.
  • For a decent bounce to happen they have to sustain above the cloud. 
  • If Price stays here then numbers like 1121 will get violated.
  • 1145 and 1154 levels may act as resistance.
  • CHANNEL OF PLATINUM
  • Four hour chart of platinum shows a beautiful up move of platinum in a channel.
  • Price is moving towards the upper resistance line shown in weekly chart.
  • This up move may target 1930 level were it may hit the weekly resistance.
  • Silver falling below 42.25 may favor bears of silver.
  • Price is showing a spike above the broadening pattern. 
  • If the spike does not sustain we may see an extended correction.
  • For bears price need to stay below 42.25.
  • CHANNEL OF PLATINUM
  • For Bulls price should stay above 50 Hour moving average and 1132 levels for extending this bounce from 1111 levels.
  • Upper end of the range is 1153 Lower end is 1111 levels.
  • BEARISH ENGULFING OF AAPL
  • S&P 500 WEEKEND UPDATE
  • NIFTY 15 Minutes is showing a range of 5796 - 4893
  • Good up move can happen if nifty stays above the gap. So price should stay above 4932 levels.


  • Suzlon energy is closer to 2009 lows.
  • In 2009 stock reversed from these levels, Before reversal volumes were low. But stock is showing good selling volume right now.
  • So we have to see if the stock is able to take support at the previous lows or not.
  • Good reversal pattern with price sustaining above 5 day high ema may give good up move. Up move also has to take out 43.70 level which may act as resistance.
  • Breaking and closing below 33.05 will extend profits for bears of suzlon.

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