August 31, 2012

  • Daily chart shows support near 655 levels.
  • Bears need to break below the Hourly cloud and 23.6% Fib level for further down moves.
  • Holding above the cloud and the fib level may lead to an up move.
  • APPLE DAILY CHART UPDATE


 
  • Apple daily chart nearing a MACD sell signal.
  • MACD lines also shows negative divergence in daily time frame.
  • For the above scenario to work well for APPLE Bears price need to fall below 644 and 20 Day SMA. 
  • For a bigger fall price must close the day and week below 644 levels.
  • INTEL CHART ANALYSIS


  • INTEL weekly chart near previous resistance level.
  • Price is also near 100 Week SMA.
  • Breaking below 23 on weekly closing basis should push the stock down towards the up trend line shown in 2nd chart.
  • If previous resistance acts as support an oversold bounce looks possible from 23 levels.
  • SILVER BULL FLAG


 
  • Silver four hour chart shows a bull flag pattern.
  • Bull flag will work well in favor of bulls only if price stays above the four hour cloud and Daily chart stays above 200 Day SMA.
  • Daily falling below 200 SMA shall result in a correction in favor of bears.
  • ES CHART ANALYSIS


 

  • Nifty found support at 50 day sma on expiry day. But price is still below crucial resistance levels like 5348 and 20 Day SMA. For a bigger up move days must close above these levels. 
  • MACD Sell signals continue to look good in daily chart. Weekly chart shows a fight between shooting start candlestick and the weekly cloud. Breaking and closing into the cloud will add strength for the inverted hammer candlestick.


  • First chart is ES one hour with support and resistance lines.
  • Second chart shows four hour time frame with Same support line and the next support levels in case of a breakdown.
  • Last chart shows price below the cloud and testing support levels. Breakdown will strengthen bears for a trending down move in hourly time frame.


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