December 11, 2011

  • Price is near 200 SMA.
  • Attempts to cross 200 SMA has failed twice  in the recent past. Price may make another attempt soon. A bearish candle on 200 SMA may give a perfect shorting opportunity. For bulls price should close above 200 SMA decisively for going long.
  • Daily chart also shows a contracting triangle which may give good direction.
  • Price has closed below day high ema. If it sustains here trend might turn in favor of bears.

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