February 28, 2013

  • Apple 30 Minutes chart shows a Diamond pattern.
  • Bulls of apple need price to sustain above the cloud and 100 Period SMA for a breakout from the pattern. Unable to trade above these levels may give new lows for apple.
  • EURUSD 4 Hour chart shows resistance lines.
  • Second chart shows price getting resisted near the cloud.
  • Last chart is the daily time frame which shows the potential for a Head and shoulders pattern. If the current support levels are held the Right shoulder of the pattern is possible.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • ES 4 Hour chart near resistance line. Bears need to protect this line for a correction to start.
  • For bears price has to fall below 50 and 100 period SMA of this time frame for a bigger fall to happen.
  • Price violating the falling resistance line will target the black lines shown in second chart.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • FSLR Daily chart shows price trying to seek support at previous resistance level.
  • Sustaining above previous resistance level may lead to a partial fading of the GAP Price may move back towards the broken support line or 29.49 area.
  • Weekly closing below 20 Week SMA will favor bears to extend the fall. Last week candle is a PIN BAR Reversal candle which will gain strength on price closing below 20 Week SMA.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • IWM Daily chart bouncing from lower bollinger band. But price failed to close below 20 Day SMA
  • Second chart shows price violating the bullish channel. Bears need price to break 50 Day SMA for bigger correction to happen
  • Weekly chart shows price testing support lines. Bears need a weekly close below these lines for bigger correction to happen.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • Facebook daily chart with price and MACD histogram shows Positive divergence Not very prominent But its the support levels that will keep the bulls interested.
  • Price is near its 100 Day SMA and 20 Week SMA So correction may extend some more But price is likely to hold above 50% Fib level and 100 Day sma for an up move to start.


  • Nifty bulls managed to close the day above the Golden ratio.
  • Now for bulls price has to close back above 100 Day SMA and 23.6% Fib level shown in second chart.
  • Last chart shows price violating 20 Week SMA. A weekly close back above 20 Week SMA should add strength for bulls. Closing the week below Middle BB will be negative.
  • IFCI TRIANGLE PATTERN
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  • IFCI Weekly chart shown with the big triangle pattern. breakout from this pattern should result in a 15- 20 point move.
  • Daily chart shows Golden cross But price for now is below 50 and 200 Day SMA. 
  • Last chart shown with crucial support and resistance levels.




  • First chart shows price moving inside the range. Until price takes out the Highs on closing basis this one can be treated as a bearish range at the top.
  • Last chart shows price inside  a bullish channel. This one too need price to take out the swing high of 1530 to extend the trend. 
  • Unable to make newer highs on closing basis may lead to a breakdown.
 
  • Gold showing resistance near 23.6% Fib level in daily chart.
  • Weekly chart also shows resistance around the support resistance zone between 1620 - 1635. 
  • Above mentioned zone has to be closed above on weekly closing basis for gold bullish momentum to return. Sustaining below these levels may lead to retest of the lows.

February 27, 2013

  • Blackberry near 50% Fib level.
  • Daily chart is also near 100 Day SMA and Testing Daily Ichimoku cloud.
  • Up trend line from 6.19 levels is also near 100 Day SMA Which is likely to be held for an up move to start.
  • First chart shows hour chart with the recent fall from 78.6% Fib level
  • Second chart shows resistance levels for the current up move with 200 Hour SMA near Golden ratio.
  • Last chart shows same fib levels shown in second chart but with 4 Hour time along with Ichimoku cloud. Confluence of resistance at 4 Hour cloud the Golden ratio and 200 Hour SMA may try to stop bulls from making a bigger up move.
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  • PCLN Bouncing from 50 Day SMA.
  • Second chart shows a rounding bottom kind of price action which has immediate resistance at 721 levels. 
  • For a complete reversal towards 775 price has to trade above 721 and 78.6% Fib level.



  • SILVER Daily MACD is Aligning for a bounce towards the resistance line shown in the chart.
  • But bulls of slv is approaching resistance levels in 38.2% Fib level and previous support level which may also act as resistance.
  • Unable to stay above 23.6% Fib level may lead to a retest of the recent lows again.

  • First chart shows apple daily trying to stay above 78.6% fib level
  • second chart shows crucial support levels in 442 and 435. Weakness on trading below these levels.
  • Strength on trading and day closing above 20 Day SMA.
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 DAILY FIBS
HOURLY FIBS 
  • Daily chart shows the bounce from golden ratio.
  • 2nd chart shows the neck line and 100 Day SMA as resistance.
  • Hourly chart shows immediate resistance levels.
  • BANK NIFTY CHART ANALYSIS
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  • Bank nifty falling from a head and shoulders pattern.
  • 2nd chart shows a possible support level.
  • Last chart shows price moving towards the rising support line from 9110. For price to test the support line fall has to be deeper, BN has to fall another 400 points to reach the support line.
  • HINDALCO CHART ANALYSIS
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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