July 31, 2012

 
  • Daily time frame shows resistance at 100 Day SMA and daily cloud.
  • Support levels are 86.91 and 50 Day SMA.
  • Break of these moving averages on daily closing basis may give a bigger move.
  • SILVER RESISTANCE LEVELS


DAILY CHARTS
  • First chart is the hour time frame with the resistance line and the GAP which may get filled if the resistance line works for bears
  • Crucial resistance levels in daily charts are 615 and 619.



  • ES Testing crucial levels in hourly chart,  50 Hour SMA and the Hourly cloud.
  • Price breakdown below the cloud and the range shown in four hour chart may result in a correction.
  • Price sustaining above 50 Hour SMA shall give a breakout in favor of bulls.
  • SILVER RESISTANCE LEVELS



  • SILVER Breaking out above 50 Day SMA.
  • Price moving up from weekly trend line.
  • Weekly chart has resistance at 20 Week SMA and the falling resistance line as shown in last chart.



  • Nifty daily could not sustain above 20 Day SMA. Bulls need a daily close above this level to sustain the up move. A bearish candle here means correction may follow.
  • Price falling below 50 Hour SMA could trigger a bigger fall.
  • Price sustaining above the 30 Minutes trend line could give an intraday up move.
  • SBI ANALYSIS BEFORE POLICY




  • SBI Weekly chart shows  a triangle shaped contraction pattern. Price is taking support near the support line.
  • It's a crucial day for the stock because of the RBI policy. Good news should result in an up move towards 50 Day SMA and a cloud break should target the upper resistance line shown in first chart.
  • Price unable to sustain above 200 SMA should resume the fall.
  • NIFTY CHART ANALYSIS


  • Nifty daily chart has one more GAP to be filled between 5267 - 5300. But price has to cross a crucial resistance zone before that.
  • Nifty's 20 Day SMA at 5218.
  • 5 Week High EMA at 5223
  • Golden ratio for the move from 5348 - 5032 is near 5229.
  • Crossing the above mentioned levels may help nifty bulls to fade the GAP at the Top


  • ES 4 hour chart Trying to stay above previous resistance levels which are acting as support.
  • One hour chart shows a range which has to be broken for further moves to happen.
  • Price sustaining above 50 Hour SMA and cloud may lead to an upper breakout.


July 30, 2012

  • ES One hour chart sustaining above 50 Hour SMA and hourly cloud should favor bulls for a bullish consolidation breakout.
  • ES Daily chart shows crucial resistance at 78.6% Fib level which should be crossed for extending the current up move.
  • S&P 500 WEEkEND UPDATE



  • Weekly chart of bank nifty shows price contraction in a triangle pattern. A bigger move will happen once price breaks out of this pattern. Weekly chart has a sell signal which will be effective below 20 Week SMA and the support line of the triangle.
  • NIFTY WEEKEND UPDATE


July 29, 2012


  • For the bullish momentum to sustain price must sustain above 12977 and 78.6% Fibonacci level.
  • Sustaining above these levels could take Dow Jones towards 13200 - 13300 levels.
  • Unable to sustain above the 12977 could result in a bearish week.
  • Last chart shows a weekly rising wedge pattern. If the rising wedge is held we might see a big breakdown from this pattern.
  • S&P 500 WEEkEND UPDATE



 
 
  • INTEL Weekly chart is moving up from 50 Week SMA. But price is near resistance levels like 50 and 200 Day SMA.
  • Price is near daily Ichimoku cloud which may act as resistance. For a bigger up move price must do a cloud breakout. Sustaining below the cloud will give shorting opportunities.
  • S&P 500 WEEkEND UPDATE

July 28, 2012



  • SPX Daily with MACD histogram shows negative divergence.
  • Weekly chart shows a completely different picture with MACD about to give a buy signal.
  • SPX Four hour line chart shows price at a resistance line. So for next week we might get a pullback because of the negative divergence and a breakout in favor of bulls because of the weekly MACD.
  • Month chart shows price moving towards a possible resistance line. If macd buy works well price is likely to breakout above this resistance line to extend the up move.
 
 
  • Daily chart with Ichimoku cloud shows price bouncing from the cloud.
  • But the up move was stopped at 100 SMA and 5 Day High EMA.
  • Weekly stochastic sell signal is still effective as price stays below 20 week SMA.
  • Despite yesterday's bounce bears are looking strong. 
  • EURUSD RESISTANCE LEVELS



July 27, 2012


  • EURUSD Daily chart moving towards resistance line and 50 Day SMA.
  • Trend of daily time frame will stay in favor of bears as long as price trades below the cloud.
  • GOLD CHART UPDATE




  • Gold weekly chart shows price testing crucial support resistance zone between 1620 - 1640.
  • Crossing this zone on weekly closing basis will take gold towards the weekly falling resistance line from 1920 - 1720.
  • Daily chart shows price above 100 Day SMA Which is good for bulls But price is also near 200 SMA which should also be crossed for a bigger up move to happen.



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.

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"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