October 31, 2013

  • Crude oil Daily chart shows price pausing at golden ratio. Weekly chart shows 100 Week sma at the current lows. Breaking these levels on closing basis should extend the fall of crude oil towards the up trend line shown in last chart.
  • SILVER False breakout
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  • EURUSD Daily chart shows price falling from channel resistance line.
  • Golden ratio in weekly chart too is acting as stiff resistance level.
  • Support in weekly chart is seen at the 200 Week SMA and 50% Fib level.
  • SILVER False breakout
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  • ES Hourly cloud is acting as resistance level.
  • bears need to break below the shaded support resistance zone for a bigger down move to happen.
  • SILVER False breakout
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  • Price re entering the range after a breakout mostly results in a fall that's shown in one hour chart. Daily chart too failed to stay above 200 SMA on closing basis and has given a bearish candle at this crucial resistance line(200 sma). Price likely to hit 23.6% Fib level as shown in last chart.
  • FACEBOOK Support levels
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  • The up trend line in daily chart and the Golden ratio in one hour chart is trying to act as support level for Facebook.
  • If the above  mentioned levels fails to hold then price may fall towards 50 Day SMA or Lower Bollinger Band as shown in chart 3.
  • SPY Analysis after closing bell
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  • ES one hour chart shows previous resistance zone acting as support.
  • Price sustaining below 100 Hour SMA and Hourly cloud will favor bears of ES. Bulls need to get back above 100 Hour SMA for a possible bounce to happen.
  • SPY Analysis after closing bell
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  • Bank Nifty near 200 Day SMA and Golden ratio.
  • Daily RSI is at overbought zone and may give a correction towards rising support line.
  • Bulls need to close the week above 50 Week SMA and Golden ratio to extend the weekly momentum.




  • SPY daily chart shows bearish engulfing pattern and Negative divergence, these two patterns needs confirmation for staying short. In the immediate short term price should break and sustain below 50 Hour SMA for the above bearish patterns to work well.
  • Taking support at 50 Hour sma will negate the bearish possibilities.


October 30, 2013

  • Crucial support levels of ES in one hour time frame.




  • Silver one hour chart shows price trying to breakout of a range.
  • Daily chart shows price above 200 Day SMA. Silver bulls need a daily close above 200 SMA to confirm bullishness.
  • DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
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  • Cisco daily chart shows price near the resistance line and 200 Day SMA. Closing above these levels may start an up move for cisco.
  • Weekly chart shows price trying to take support at the rising trend line.
  • DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
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  • APPLE Daily chart shows a Bearish engulfing pattern.
  • Weekly chart is testing 100 Week SMA A close below this line may confirm the bearish engulfing pattern shown in daily chart.
  • Monthly chart too is getting resisted at 20 Month SMA. Unable to close the month above this line may result in a correction.
  • DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
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  • Dow Jones has entered the crucial resistance area. 
  • Bearish View shows a possible Triple top pattern with indicator entering overbought zone, Problem here for bears is that the indicator is yet to exhaust So it should be a sudden reversal here, If price starts to hang around here it should lead to more upsides. 
  • Bullish view shows a 1000 Points Double Bottom pattern which is yet to confirm. Closing above this resistance zone may confirm this pattern.
  • TESLA Weekly Chart analysis
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October 29, 2013


  • Bank of America testing 100 Day SMA again. Price is also nearing a possible support line. Sustaining above the support line on closing basis may lead to an up move.
  • Closing below the support line and below 13.91 may give a fall towards 13.60 levels. More weakness only on closing below 13.60 levels.
  • TESLA Weekly Chart analysis




  • Apple Month chart shows price testing 20 Month SMA. For Bulls of Apple price must close the month above this level for extending gains.
  • Weekly chart shows next resistance at 545 levels.
  • Hour chart shows  an up trend which is likely to extend on closing above 533 levels.
  • TESLA Weekly Chart analysis
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  • Tesla Weekly MACD has given a bearish cross, Price falling below 20 Week SMA will add strength for this sell signal.
  • Daily chart sustaining below 50 Day SMA is good for Bears of TESLA. Bears need a close below 158 levels for further declines to happen. 
  • FACEBOOK Chart update
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  • Facebook Daily chart shows price falling after two bearish engulfing patterns.
  • Price has closed below 20 Day SMA.
  • Sustaining below 20 SMA Price may fall towards lower BB or 50 Day SMA. Bulls must close back above 20 SMA to avoid a bigger fall.



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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