- Daily time frame shows resistance at 100 Day SMA and daily cloud.
- Support levels are 86.91 and 50 Day SMA.
- Break of these moving averages on daily closing basis may give a bigger move.
- SILVER RESISTANCE LEVELS
July 31, 2012
- Nifty daily could not sustain above 20 Day SMA. Bulls need a daily close above this level to sustain the up move. A bearish candle here means correction may follow.
- Price falling below 50 Hour SMA could trigger a bigger fall.
- Price sustaining above the 30 Minutes trend line could give an intraday up move.
- SBI ANALYSIS BEFORE POLICY
- SBI Weekly chart shows a triangle shaped contraction pattern. Price is taking support near the support line.
- It's a crucial day for the stock because of the RBI policy. Good news should result in an up move towards 50 Day SMA and a cloud break should target the upper resistance line shown in first chart.
- Price unable to sustain above 200 SMA should resume the fall.
- NIFTY CHART ANALYSIS
- Nifty daily chart has one more GAP to be filled between 5267 - 5300. But price has to cross a crucial resistance zone before that.
- Nifty's 20 Day SMA at 5218.
- 5 Week High EMA at 5223
- Golden ratio for the move from 5348 - 5032 is near 5229.
- Crossing the above mentioned levels may help nifty bulls to fade the GAP at the Top
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.