June 30, 2013

  • QQQ Daily chart shows possible resistance levels. 50 Day SMA, Falling resistance line and Golden ratio will act as stiff resistance levels.
  • Weekly chart shows rising support line and 20 Week SMA as support levels. Bears need a weekly close below these levels for a bigger down move to follow.

  • Apple first chart shows price at weekly lower Bollinger band. This level has acted as support in the recent past for a trading bounce.
  • Daily chart shows possible double bottom up move 385 is held.
  • Month chart shows more pain for bulls if 385 is not held. Below 385 apple could test its Monthly Lower Bollinger band at 343.

  • June 29, 2013

    • Price closed below 200 Day SMA. Price may attempt a partial filling of the GAP which is likely to end at or near 200 Day SMA.
    • Weekly chart closed below the cloud which is negative the long term trend for the stock.
    • Weekly chart also shows  a triangle breakdown which is likely to take price towards 7.29 levels in the medium term.

    • Facebook daily and One hour chart shows price nearing resistance level at 25.
    • Price also near 38.2% Fib level.
    • Bulls of FB need a close above these levels for a bigger up move to happen.

    June 28, 2013

    • ES Trying to hold above 50 Period SMA in one hour chart. Weakness on price falling below this level.
    • 4 Hour chart too is stuck below 100 period SMA and Golden ratio. Up move will extend only if price is able to trade above these levels.

    • Bank nifty daily chart nearing 5 Day High EMA. This has acted as perfect resistance level to go short for the current down move. Now for  a pause or change in trend price must trade above this line.
    • Weakness below 11033 for a possible fall towards 10897.
    • Current fall is getting ready to give its sixth bearish weekly candle and price is close to crucial levels like 100 Week SMA and Weekly Lower Bollinger band Which may result in a bounce in the coming week.

    June 27, 2013

    • Long term trend of Gold getting tested as price falls into the Monthly cloud.
    • Price is also nearing Golden ratio in Monthly chart for the rise from 680 to 1920. Golden ratio is at 1153  levels.
    • Hour chart continues to trend down below the cloud. For a possible pullback price must trade above the hourly cloud.

    • EURUSD Daily chart testing Ichimoku cloud and 100 Day SMA.
    • Strength in hourly chart on trading above Hourly cloud.

    • Crude oil daily chart shows price near resistance zone of 97 - 99.
    • Weekly chart shows price near golden ratio.

    • ES nearing multiple resistance levels.
    • Price must sustain above Golden ratio and 100 period SMA for this up move to continue.

    • SPX is moving back to broken levels like 50 day sma  which may act as resistance.
    • Strength only if price trades above 50 Day SMA and daily cloud.

    • Bank of america nearing its 50 Day SMA.
    • Price also near the broken support level of the descending triangle pattern which may act as resistance.
    • 4 Hour cloud too may act as resistance. Price sustaining below the cloud will give selling opportunities. Strength or the resumption of up move only on price sustaining above the cloud.

    June 26, 2013

    • Apple monthly chart shows price nearing 50% Fib level for the rise from 78 to 705 levels.
    • Weekly chart shows price near 200 Week SMA.
    • Daily chart shows a possible Double bottom formation if the low at 385 is held.
    • ES Four hour chart shows price back to the support zone of the range.
    • Price is also nearing crucial fib levels.
    • Daily ichimoku cloud too may act as resistance for this up move.

    • Tata Motors came back to close inside the triangle pattern after a false breakdown.
    • Price has to close outside this pattern for a bigger move to happen.
    • Price sustaining below 200 Day SMA and the cloud means weakness. 

    • SPY 5 Minutes chart shows immediate support and resistance lines.
    • 30 Minutes chart shown with 50 period SMA.
    • Last chart shows price trying to stay above 23.6% Fib level. Weakness on price falling below this level.

    June 25, 2013

    • Google daily chart shows price near 50 Day SMA and 38.2% fib level.
    • 4 Hour chart shows price trying to hold above the cloud base. Closing below the cloud may extend the fall in Google.


    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.


    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