August 31, 2012

  • Daily chart shows support near 655 levels.
  • Bears need to break below the Hourly cloud and 23.6% Fib level for further down moves.
  • Holding above the cloud and the fib level may lead to an up move.
  • APPLE DAILY CHART UPDATE


 
  • Apple daily chart nearing a MACD sell signal.
  • MACD lines also shows negative divergence in daily time frame.
  • For the above scenario to work well for APPLE Bears price need to fall below 644 and 20 Day SMA. 
  • For a bigger fall price must close the day and week below 644 levels.
  • INTEL CHART ANALYSIS


  • INTEL weekly chart near previous resistance level.
  • Price is also near 100 Week SMA.
  • Breaking below 23 on weekly closing basis should push the stock down towards the up trend line shown in 2nd chart.
  • If previous resistance acts as support an oversold bounce looks possible from 23 levels.
  • SILVER BULL FLAG


 
  • Silver four hour chart shows a bull flag pattern.
  • Bull flag will work well in favor of bulls only if price stays above the four hour cloud and Daily chart stays above 200 Day SMA.
  • Daily falling below 200 SMA shall result in a correction in favor of bears.
  • ES CHART ANALYSIS


 

  • Nifty found support at 50 day sma on expiry day. But price is still below crucial resistance levels like 5348 and 20 Day SMA. For a bigger up move days must close above these levels. 
  • MACD Sell signals continue to look good in daily chart. Weekly chart shows a fight between shooting start candlestick and the weekly cloud. Breaking and closing into the cloud will add strength for the inverted hammer candlestick.


  • First chart is ES one hour with support and resistance lines.
  • Second chart shows four hour time frame with Same support line and the next support levels in case of a breakdown.
  • Last chart shows price below the cloud and testing support levels. Breakdown will strengthen bears for a trending down move in hourly time frame.


August 30, 2012

  • Silver daily chart shows support line between 29.89 - 29.93. Second chart shows daily chart with fibonacci support levels. 
  • Third chart shows weekly fibonacci levels, 23.6% is acting as resistance for now. Last chart shows hourly time frame in a range which should be resolved for a bigger move to happen.


 
  • Apple hour has violated the up trend line.
  • Supports in hour chart are 655 and 647 levels 
  • Weakness on closing below 50 Hour SMA.
  • Possible trend turn only if price breaks below the cloud.
  • ES CHART ANALYSIS


 
 
  • ES Daily chart trading below 20 day SMA.
  • Daily chart shows support near lower bollinger band.
  • Hour chart shows price bouncing from 78.6% fib level. More falls on breaking this level. Holding this level an intraday up move possible.

NIFTY WEEKLY CHART
  • Nifty fall pausing at 50 Day SMA.
  • Breaking day low and 50 SMA could fill the GAP shown in 2nd chart completely and may target 38.2% Fib level at 5188.
  • For bulls price must get back above 23.6% Fib level to avoid a bigger fall.
  • Shooting start shown in weekly chart has been doing well so far.
  • TATA STEEL CHART ANALYSIS



  • Tata Steel daily chart shows a Head and shoulders breakdown.
  • Weekly chart shows price violating crucial support at 382.
  • Bulls of tata steel badly need an intra week rally to close the week above 382.
  • Next major support at 331 levels. 78.6% at 367 levels may act as a support.
  • NIFTY WEEKEND UPDATE


August 29, 2012


  • EURUSD Weekly chart continues to get resisted at 20 Week SMA
  • Daily chart shows price moving up in a channel. There will not be big falls as long as price continues the up move in the channel. Holding the channel support line up move may continue to till 1.27 levels.
  • Major resistance at 200 Day SMA.


  • ES Four hour chart shows price contraction which may give a bigger move soon.
  • Second chart shows the support and resistance levels.
  • Last chart shows fibonacci levels and target areas.


August 28, 2012

  • ES Daily chart with price inside a channel. Price is trading near the upper side of the channel.
  • Closing the day below 20 SMA could extend the call.
  • 4 Hour chart shows crucial support and resistance lines which has to be broken for a bigger move to happen. 


  • Silver hourly chart will continue to trend up on sustaining above 50 Hour SMA and Hourly cloud.
  • Turnaround in daily chart too will be safe on sustaining above 200 Day SMA. Daily close below 200 day SMA may turn things in favor of Silver bears.
  • CRUDE OIL CHART UPDATE


August 27, 2012

  • Crude oil falling towards the support line of the rising wedge.
  • Price is correcting from the golden ratio.
  • Trading below 20 Day SMA and 93.22 levels would extend correction.


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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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