March 5, 2012

  • 15 Minutes chart shows the correction from diamond pattern.
  • Four hour chart shows important support line violation.
  • One hour chart shows price testing 100 Hour SMA. If this line holds We may see an up move.
  • IBM RESISTANCE LINE AND RANGE BREAKOUT
  • IBM 30 Minutes chart shown with range breakout.
  • For Bulls of IBM price need to sustain above the resistance line shown in Daily chart.
  • Failing to close above the daily resistance line may result in a fall.
  • ES SUPPORT LEVELS
  • Copper near trend line and 50 day SMA
  • Rising 50 SMA may act as support level.
  • For a bigger fall price should close below 50 SMA
  • ES Near important support levels.
  • For a bigger fall price has to break the support line.
  • For a trend change price has to break below the cloud.
  • SILVER MULTIPLE TIME FRAMES
  • Silver hour has fallen below 200 Day SMA. If the fall continues price may test the shaded portion.
  • 200 period SMA in 4 hour chart may act as support.
  • One hour chart shows price falling from a descending triangle pattern.
30 MINUTES CHART
NIFTY FUTURES WEEKLY

  • Nifty sport support line is at 5268. 
  • Weekly chart shows support in the form of 50 Week SMA for spot and futures. Day closing below 50 WSMA will favor bears for extending this decline.

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