December 12, 2012

  • ES Daily chart near Horizontal and falling resistance lines.
  • Price also near 78.6% Fib level.
  • Trading above 80% retrace level should give a complete reversal and fresh high's for ES.
  • Unable to close the day's candle above 78.6% Fib level will be negative for bulls.
  • FACEBOOK CHART UPDATE
-->

 
  • FACEBOOK Daily chart is doing a consolidation above the GAP in daily chart. Price holding above 26.68 levels should extend the current up move in facebook. 
  • Indicators are showing overbought readings in daily chart But price if stays above crucial support levels like 20 SMA and 26.68 levels should stop a bigger correction from happening.
  • Falling back into the filled GAP area will be bearish for FB.
  • S&P 500 ANALYSIS AFTER CLOSE
-->
 
  • HDIL Weekly chart nearing overbought zone.
  • Weekly resistance at 122 level. Bulls need a weekly close above 122 for a possible target of 135.
  • Daily charts are showing negative divergence which need confirmation before going short. Weakness on trading below 115 levels.
 
  • NIFTY Shows weakness near Previous weekly high of 5944. This level is closer to the 78.6% Fib level and a possible resistance line shown in first chart.
  • So multiple factors in weekly chart stopping bulls from moving ahead. Bulls need a weekly close above these levels for a bigger up move to happen. Weakness only on trading below 5838 and 5815 levels on daily closing basis.
-->


 
  • SPX Managed to close another day above 50 Day SMA and above Golden ratio. But price showed resistance near the resistance lines shown in first chart.
  • Day high was also at the Daily Ichimoku cloud. So Bulls need a close above the cloud and resistance lines to continue this up move.

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