June 11, 2012

  • Apple daily trying to stay above 50 day SMA.
  • Daily closing above 50% Fib level and 50 Day SMA will help bulls to target the golden ratio.
  • Falling below 50 day sma on closing basis will favor bears.

  • Nifty near 50 and 200 Day SMA. 
  • Weekly chart shows bullish engulfing pattern and need to trade above 50 Week SMA for the engulfing pattern to be effective.
  • Price trading above the falling channel resistance line and 5 Week High EMA will favor bulls.\
  • Immediate target on trading above these levels could be the Weekly mid bollinger band.


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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