April 30, 2013

GOLD WEEKLY CHART
ONE HOUR CHART
  • Gold weekly chart back above 200 Week SMA.
  • If the up move continues the broken support level of weekly chart 1522 - 1531 will act as stiff resistance level.
  • One hour chart shows price above 100 Hour SMA. Up move is safe till it holds 100 Hour SMA. Closing above 1485 may take price back above 1500 levels. 
  • BLACKBERRY CHART ANALYSIS
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  • Crude oil four hour chart shows price correction from 78.6% Fib level.
  • If the fall is not large price may form an inverted head and shoulders pattern.
  • One hour chart shows crucial levels to hold to avoid a bigger fall.
  • APPLE CHART UPDATE
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  • Blackberry daily chart shows price trying to breakout of a triangle pattern.
  • Weekly chart shows price trying to stay above 100 Week SMA after a long GAP. Bulls of Blackberry need a weekly close above this line to confirm bullishness.
  • APPLE CHART UPDATE
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  • Apple weekly candle is testing 5 Week High EMA. Price has failed to sustain above this level resulting in strong down trend. Now Weekly MACD is showing positive Divergence for divergence to work price must sustain above this level on weekly closing basis.
  • Up move will be tough to extend with the presence of resistance levels in daily chart like the 50 Day SMA and the Daily Ichimoku cloud.
  • Any Weakness near the daily cloud means the Divergence has to wait some more weeks to start performing.
  • APPLE CHART UPDATE
 
  • ES is showing some weakness near the swing high of 4 Hour time frame. No breakdown yet.
  • Price has to trade below the supporting trend line shown in second chart for a possible breakdown to start.
  • 4 Hour chart also shows a possible rising wedge like pattern which needs price to break the trend line mentioned earlier to work well.
  • For bulls just need to protect the rising trend line to move higher and negate the bearish view mentioned above.
  • APPLE CHART UPDATE
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  • Bank nifty futures hour chart has fallen below the Ichimoku cloud. But price is yet to break below crucial support level of 12345 and 23.6% Fibonacci level.
  • For bigger falls price must break the levels shown in chart 2 and 3 on closing basis.
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  • 15 Minutes chart shows price correction towards range Top (5918  -  5924). Sustaining above this level up move may resume. Intraday weakness on falling below this level back into the range.
  • For bigger up moves price must takeout the resistance levels shown in the next two charts convincingly.
  • RCOM PRICE VOLUME ANALYSIS
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  • Reliance Communication Chart shows resistance levels for the current up move at 109 and 113.
  • Price volume picture is completely different for Rcom this time. Current up move is supported by strong buying volume.
  • Weekly chart shows price trying to stabilize above Weekly Ichimoku cloud which is good for the long term trend of the stock. Now if the correction or dip towards the cloud happens with lesser volume then Weekly cloud may act as support for more buying opportunities.
  • RELIANCE INDUSTRIES CHART ANALYSIS
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  • Daily chart shows price getting resisted at 50 Day SMA.
  • Weekly chart shows price unable to close above 5 Day HIGH EMA.
  • Crucial support at 760 levels.
  • Weekly close below 760 will be negative for RIL, Bulls need a weekly close above 5 Week HIGH EMA to confirm a turnaround.
  • RCOM PRICE VOLUME ANALYSIS
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  • Apple 4 Hour chart shows price nearing possible resistance level at 435 - 437.
  • Resistance level is also at the Golden ratio and 4 Hour Ichimoku cloud. 
  • Getting resisted here may also form a Bullish Inverted head and shoulders pattern.
  • APPLE POSITIVE DIVERGENCE AND INSIDE DAY
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  • SPY Four hour chart shows price at the top of the range. No breakout yet.
  • One hour chart shown with 20 Hour SMA. Weakness on hourly close below 20 Hour SMA. Possible breakdown or reversal of trend in this time frame on breaking below 157.74.
  • DEATH CROSS EURUSD
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April 29, 2013

  • Crude oil one hour chart shows price above 50 and 100 Hour SMA. Price sustaining above 50 and 100 Hour SMA will extend this up move towards 78.6% Fib level.
  • 78.6% Fib level is around 94.80 which is a possible resistance level. Price may also form an inverted head and shoulders pattern with Neckline at 94.80 level.
  • DEATH CROSS EURUSD
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DAILY CHART
4 HOUR CHART
 
DAILY CHART
  • Price trying to stay above the falling resistance line in daily chart.
  • 4 Hour chart also shows a declining resistance line which must be crossed on closing basis for a bigger up move to happen.
  • Daily chart also has 100 Day SMA as strong resistance level.
  • DEATH CROSS EURUSD
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  • Gold one hour bullish cross continues to do well. Up move will be safe as long as price stays above 50 and 100 Hour SMA.
  • Second chart shows price contraction between support and resistance lines. Breakout above the resistance line will extend this up move which also means breaking back into the daily channel shown in last chart. Daily close back into the daily channel will add strength for the bulls of GOLD.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE



 
  • EURUSD Daily chart shows Death cross. Price has to sustain below 50 Day SMA for the cross to be effective.
  • Right now price is moving towards 100 Day SMA which is a possible resistance level. Bearish cross will be ineffective if price starts to trade above 100 Day SMA.
  • Last chart shows potential Fibonacci resistance levels.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • ES has held on to the support levels mentioned in earlier charts.
  • Second chart shows price moving above 50 Hour SMA. For bullish moves to extend price must sustain above 50 and 100 Hour SMA.
  • Last chart shows crucial levels to confirm breakout or breakdown.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • Nifty one hour chart shows price in a consolidation. Recent consolidations during this up move has resulted in upper breakouts.
  • Price testing Hourly ichimoku cloud. Price falling below the cloud may turn the trend in this time frame.
  • Weakness below 5843 and 50 Hour SMA.
  • SBI Continue to show weakness at golden ratio. Further fall only if price closes below 50% Fibonacci level.
  • Support levels are 100 Day SMA and 5 Week High EMA.
  • Weekly close below 5 Week High EMA will resume the fall.
  • TATA MOTORS CAHRT 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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"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