September 4, 2012

  • ES 4 Hour chart near support zone. Below this level ES may test 200 period SMA of 4 Hour time frame.
  • Cloud of 4 Hour chart continue to act as resistance.

  • Price in a range near 200 Day SMA. 
  • Bulls must cross the golden ratio for a bigger up move.
  • Last chart shows price contraction between resistance and support line which should result in a bigger move soon.

  • Nifty staying above the cloud will favor bulls to move up. Price falling into the cloud may give a breakdown.
  • Weekly candles could not sustain above 100 week SMA.
  • Daily chart shows price near support and resistance lines. Price may give a bigger move from this level.

  • Bank of America Weekly chart shows price getting resisted near range top at 8.4.
  • Next chart is BAC Weekly chart with cloud which shows price unable to breakout above the weekly cloud. For a possible up trend to start price must breakout above the weekly cloud.
  • Daily chart shows immediate support at 50 Day SMA. Sustaining above it may avoid a correction and start an up move.


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.


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