October 29, 2012

 
  • ES Hour chart continue to diverge positively without any meaningful gains for bulls. Smaller up moves are getting resisted.
  • Trading above the Hourly cloud may give a bigger up move.
  • Price is also getting resisted at 100 Hour SMA as shown in the last chart.
  • IWM WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • Nifty futures at resistance levels.
  • Rounding bottom redrawn and is shown with possible resistance levels. resistance levels has to be crossed on closing basis for confirming a breakout.
  • NF Has to close above 5745 - 5755 for bigger moves to happen.
  • NIFTY INTRADAY CHART WITH AUTO REFRESH
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  • First chart of nifty shows price movement inside the range. Bears need a close below 5635 levels, Targets on down side will be the GAP area or the rising up trend line as shown in the second chart.
  • On weekly closing basis nifty bulls are trying to protect their position above the Golden ratio. If this is broken on weekly closing basis we could see a bigger correction towards 50% Fib level.
  • NIFTY INTRADAY CHART WITH AUTO REFRESH
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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