December 31, 2013


  • Apple daily chart shows price taking support near rising trend line.
  • 4 Hour chart too shows support at the Ichimoku cloud.
  • Last chart shows price testing 20 Day SMA. Apple bulls need price to close back above 20 SMA for a bigger up move to happen.
  • Gold 4 hour chart shows multiple resistance levels. 
  • Price need to close above these levels for a bigger up move to happen.
  • CRUDE Oil Chart update
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  • Crude oil after showing weakness at 200 Day SMA is now testing 20 Day SMA and other crucial support levels in 4 hour charts. Breaking below 20 Day SMA on closing basis may give a bigger fall for crude oil.






  • First chart shows bearish engulfing pattern in daily chart. First pattern shown in the chart did not do well. Current Bearish engulfing pattern may do well only if price starts to trade below the GAP in daily chart.
  • There is also a possibility of a broadening pattern which will look good once price starts to trade below 86.68 on closing basis.
  • Daily chart shows negative divergence price yet to confirm any weakness though.
  • FACEBOOK Chart update


  • Facebook weekly candle shows perfect price action for bears followed by the bearish weekly candle of last week. Now Bears need to takeout 52.91 level which was the low of a previous weekly candle.
  • Daily chart too is approaching crucial support levels like 20 Day sma and 38.2% Fib level which has to be broken on closing basis for a bigger fall to happen.




  • Bharti Airtel is testing a channel resistance line and 100 Day SMA. Bulls need a daily close above these levels for the day to avoid a bigger correction.
  • Bearish candle for the day may start a correction towards 200 Day SMA.

December 30, 2013

 
  • Daily chart shows weakness at 200 Day SMA. Crude oil bulls need to close above this line to avoid a correction.
  • 4 Hour chart shows price approaching crucial support levels. Closing below 98.50 levels and the cloud of this time frame will add strength for crude oil bears.


  • First chart shows price nearing 50 Hour SMA. First signs of weakness if price starts to trade below this line. Second chart shows price giving bullish breakouts and trending above the Hourly cloud.
  • Bears are hoping for the Setup in daily chart to work for starting a correction.
  • FACEBOOK Bearish Weekly candle
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  • Bank Nifty Daily chart is about to do a Golden cross.
  • Second chart shows the recent crosses which has given good price moves So the chance of a whipsaw happening is higher. 
  • Weekly chart looks overbought and testing golden ratio, 50 Week SMA. Price must stay above these levels for the bullish event to perform well.
  • EURUSD Hits Monthly Resistance line
  • BANK NIFTY LIVE CHART- 5 MINUTES TIME FRAME
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December 29, 2013

  • Blackberry weekly chart shows price pausing at the 20 Week SMA. Daily chart shows price testing the daily cloud which has to be crossed for a bigger p move to happen.
  • 2nd chart shows a Bullish MACD cross in weekly chart, For this setup price must stay above the falling resistance line shown in the same chart.
  • FACEBOOK Bearish Weekly candle

December 28, 2013

  • Weekly candle looks like a Gravestone Doji. The candlestick lacks perfection because of the small lower shadow still it looks bearish.
  • Daily MACD is showing bearish alignment. Price is approaching crucial support lines and 23.6% Fib level. These support levels should break for the bearish scenario to play out.
  • EURUSD Hits Monthly Resistance line
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December 27, 2013

 
  • EURUSD Testing the resistance lines in Month and Weekly time frames.
  • Bullishness for the pair only on a weekly and Monthly close above these lines. For now price is getting rejected at these resistance lines. Bearish weekly close may confirm weakness for the pair.
  • SILVER Support and Resistance levels
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  • Silver daily and 4 hour chart near crucial resistance levels.
  • Silver bulls need a daily close above 23.6% Fib level which may extend the current up move.
  • SILVER Ascending Triangle
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  • ES Daily chart shows price testing a possible resistance line. 
  • 30 Minutes chart shows price trending up above the cloud. Weakness in this time frame only if price starts to trade below the cloud.
  • FORD Chart analysis
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December 26, 2013

  • Price staying below 200 Day SMA will be negative for the stock.
  • Weekly chart shows price breaking below the crucial rising support line from 8.81 levels. Next crucial support in chart is 14.3 level. Fib level shows 38.2% at 14.51.
  • Up moves from here may find it hard to cross 200 Day SMA.
  • SILVER Ascending triangle
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UPDATED CHART
  • Ascending triangle discussed below has resolved in favor of silver bulls

  • Silver one hour getting resisted at 200 Hour SMA.
  • One hour also looks like an ascending triangle. Pattern needs a close above 200 Hour SMA for  a bigger up move to happen. Closing below the rising support line may lead to 19.30 and 19.10 levels.
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  • SBI daily chart trying to form a base around the 50 Day SMA as shown in first chart. Crucial support here is 1712 level. Close below 1712 will be bearish. For bulls need a close above 20 Day SM to gain strength.
  • Price yet to recover from the big bearish engulfing pattern in weekly chart. For this particular pattern need to break below 20 Week SMA for bigger falls to happen.

December 25, 2013


  • Apple daily chart shows developing negative divergence. Some more upside is likely for apple before the divergence may start working.
  • Weekly chart shows price nearing Golden ratio which may act as resistance level. Weakness in weekly chart only if price starts to trade back inside the cloud.



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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.

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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