July 13, 2012


  • Bank of America Daily chart shows price contraction which should result in a big move soon.
  • Presence of 200 Day SMA should favor bulls for an upper breakout.
  • Weekly chart shows middle bollinger band as crucial resistance point.



  • ES One hour moving into resistance levels.
  • Hourly cloud and resistance line should favor bears for a pullback.
  • Four hour chart shows price getting support near 200 period SMA. If the resistance line of the channel is unbreakable we should see a bigger fall below 200 period SMA.
  • Bulls need a channel breakout for a long trade towards 1355 levels again.






  • If the Rising wedge performs well it may lead to a diamond pattern which should give a correction towards the support line of the diamond pattern.
  • If the wedge fails to perform Diamond may not happen or we have to redraw the pattern.
  • For bears they need to stay below 20 SMA and the GAP area shown in above charts.
  • INFOSYS CHART UPDATE


  • Infosys daily gives another GAP.
  • Price falling from a bearish flag pattern.
  • Weekly support near 2160 has to be broken by bears to extend the fall. Price sustaining above 2161 should give an up move for the stock.



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.

Followers

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