- Intel Hits the long term support line from 12 - 19 - 22 levels.
- Price is below 20 Day SMA and the down trend line.
- Daily close above the trend line and 20 SMA should start an up move from weekly support line.
- APPLE CHART ANALYSIS
October 5, 2012
- TCS Daily chart getting support near 100 Day SMA.
- Weekly chart has a hammer at 20 Week SMA. More lows only on breaking this level.
- Last chart shows weekly resistance line and Bearish Engulfing pattern. Price staying above this line should help bulls to resume the up move. Big weekly bearish engulfing will act negatively on up moves.
- Bank nifty daily chart breakout from its 215 points correction should move above 11751 levels
- Weekly chart shows next price resistance levels closer to 11900 levels.
- Last chart shows MACD still in Buy mode. MACD Histograms have started to Diverge negatively but price keeps its up move going. Price also staying above 10 Day EMA which should help bulls to extend this up move.
- S&P 500 EOD UPDATE
- Hour chart has closed above the contracting triangle. Price not showing big momentum and has some resistances to clear before confirming a bigger breakout.
- Daily is showing good support at 20 Day SMA. Bears cannot hope for a bigger correction as long as price stays above this level.
- Weekly chart trying hard to stay above the resistance line of the wedge. Clearing the range mentioned in the weekly chart should result in a bigger 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.