January 5, 2012

  • As discussed in the below chart break of the resistance line has given a good move 
  • Price staying above 50 Hour SMA and Hourly cloud will favor bulls for an upper breakout.
  • Support and resistance lines shown in the 30 Minutes chart may give good direction.

  • MSFT has given a breakout above the triangle pattern. But there is not dramatic increase in volume. Price is moving into resistance band. If it sustains above 27.50 with volumes then this up move will continue 29 levels and above. Getting resisted at 27.50 levels may result in a correction.

  • Nifty 15 Minutes with support and resistance levels.
  • 2nd chart nifty Hour chart with 200 Hour sma as resistance level.
  • Description in chart please click to expand. 

  • Tata motors has given a breakout from the triangle pattern which was SHOWN IN THIS POST.
  • Price has also give a breakout above 200 SMA.
  • Price has given good up move from the breakout level, Now it is testing the resistance line of a bigger pattern. For continuing the up move this resistance line too has to be broken and closed above.


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.


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