September 30, 2012

  • INTEL Weekly chart shows price near the channel support line, Price yet to hit the support line.
  • Daily chart shows a MACD Buy signal.
  • Fibonacci levels shows price closing below golden ratio. Trading below last week's low of 22.48 could extend the correction towards the channel support line shown in the first chart.
  • BEARISH MONTHLY CANDLE OF APPLE
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  • First chart of caterpillar shows price testing a crucial up trend line.
  • 2nd chart shows weekly cloud acting as resistance and the support levels in weekly chart.
  • Last chart shows a possible falling wedge pattern which will work well for bulls if 200 Week SMA acts as support.
  • BEARISH MONTHLY CANDLE OF APPLE
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  • SILVER Daily chart stuck in a range between 33.23 - 35.15
  • Weekly chart shows price breakout above 100 Week SMA. Holding above this line should lead to a breakout above 38.2% Fib level towards 37 Plus levels in silver for the coming week.
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September 29, 2012

 
  • Apple Monthly chart with a bearish Pin Bar candle.
  • Weekly chart shows MACD Negative divergence. 
  • Daily chart closed below 20 Day SMA. Immediate support levels are 655 and 50 Day SMA.
  • Bigger correction can be seen once price below 50 Day SMA and 644 levels.
  • SPY WEEKEND UPDATE

  • Crucial support levels for the coming week are 143.09,142.21 and the rising support line shown in first chart.
  • Second chart shows the false breakout from the rising wedge. This can give bigger falls if price starts to trade below 142.21.
  • Last chart shows how the overbought readings can remain overbought while prices continue to move up. A correction is possible if the Stochastic lines fall below 80% line.

  • NIFTY Month chart shows price closing above 20 Month SMA and 5 Month High EMA after many months of failed attempts.
  • Weekly chart testing previous resistance level of 5735.
  • Daily chart continue to sustain above 10 Day EMA. Daily candle looks similar to a shooting start not perfect but looks bearish, One negative for bears here is that price closed above 5 Day High EMA.
  • Crucial levels in daily time frame is shown in last chart.


September 28, 2012

  • Gold weekly chart shows a broad range of 1522 - 1800.
  • Weekly stochastic shows overbought readings But price yet to show weakness. Stochastic need to fall below 80 line for a possible correction otherwise range breakout is likely to happen.
  • Gold bulls need a weekly close above 1800 for a possible breakout. Bearish weekly candle may start a fall.


 
  • SILVER 4 Hour chart shows a range between 33.26 - 34.86
  • Price for now is sustaining above 100 period SMA.
  • Price is moving around the 4 Hour cloud. So the range breakout should give a bigger move for silver.
  • Citigroup bulls trying to hold above 20 Day SMA. Need price to break above the resistance line shown in first chart for a possible up move.
  • 2nd chart shows price unable to sustain above the weekly cloud. Bulls need a close above 35 levels for targeting the next resistance level at 38.4.
  • Day closing below 20 SMA should be negative for the coming week.
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  • ES Four hour chart shows  a possible contracting triangle pattern.
  • Crucial support is the 200 period SMA. Breaking below the triangle support line and 200 period SMA good result in a bigger correction.
  • Breaking the triangle resistance line could lead to new high's 
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • SBI Testing 100 Week SMA, Weekly cloud and crucial fibonacci levels.
  • Month chart shows monthly candle trading above 20 month SMA after 16 Months. Closing above this level should be positive for the stock and will help bulls to breakout above the levels mentioned above.


 
  • SPX One hour chart shows price getting support at 200 Hour SMA.
  • One hour also shows  a triangle shaped contraction which should give bigger moves on a breakout.
  • Daily moved above 20 Day SMA which should favor bulls.


DAILY CHART
 4 HOUR CHART
  • Daily chart of crude oil shows price bouncing from 100 Day SMA.
  • 4 Hour chart shows possible resistance line and 50 period SMA which may act as resistance for the above mentioned bounce. For a larger up move price has take takeout these two resistance levels.
  • ES SUPPORT LEVELS
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September 27, 2012

  • ES Daily chart near previous resistance level which may act as support.
  • Price also approaching 50 Day SMA and crucial Fib level. 
  • If the levels are held an up move towards the recent high's are possible.
  • APPLE CHART ANALYSIS
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  • Daily chart shows immediate support line at 655 for apple
  • 2nd chart shows the next support at 644 and 50 Day SMA.
  • Weekly chart looks like an evening star candlestick pattern not perfect but if this week closes at the current levels or lower it could trigger a correction provided 644 breaks.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • Bank of America daily chart falling towards the up trend line.
  • Daily MACD shows a sell signal which needs price to fall below 20 Day SMA for a bigger fall to happen
  • Weekly chart shows price resistance at 100 Week SMA. For the up move to continue price need to close above 100 Week SMA otherwise a slide towards the weekly up trend line shown in last chart is possible.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • NIFTY Hour shows a bullish Flag pattern.
  • Hour is also trading near 50 Hour SMA. Falling or closing below this level will be negative for bulls.
  • Week High at 5592 is important on a weekly closing point of view. Price not testing this value till tomorrow's should keep the bigger bulls positive.
  • S&P 500 EOD UPDATE
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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