January 17, 2013
- Bank of America daily chart is showing a range between 11.3 to 12.2 levels. This range is happening at a crucial levels in both month and weekly time frames.
- Monthly candle is pausing at top bollinger band at 11.95. Price must sustain above 11.95 for the up move to extend.
- Weekly chart shows price above 200 Week SMA. Price sustaining above it will favor bulls to extend the prevailing trend.
- APPLE BUSTED DESCENDING TRIANGLE
- Weekly candle trying to bounce from 100 Week SMA.
- GAP in daily chart and 20 SMA must be closed above for a bigger up move to follow.
- Last chart shows price trying to get back into the Descending triangle pattern. If price starts to trade inside the triangle there is a chance of a busted triangle pattern playing out, which should give good up move for bulls.
- GOOGLE CHART ANAYSIS
- Bank Nifty daily chart testing 20 Day SMA. Last testing of this level resulted in an up move.
- Price is also near previous resistance level and Range Top from which BN gave a breakout. These two levels 12571 and 12538 may try to stop a bigger fall from happening.
- Last chart also shows 23.6% Fib level at 12518 levels. So for bears of BN price must break below 12500 levels could see extension of the current down move.
- BANK NIFTY LIVE CHART- 5 MINUTES TIME FRAME
- SBI CHART ANALYSIS
- SBI Daily chart shows a trend line breakdown.
- Price is testing 20 Day SMA.
- More importantly price is showing weakness at crucial weekly resistance level as seen in the last chart. Unless price sustains above 2475 levels its likely to see a correction towards the rising trend line drawn in the last chart. Bull regain momentum above 2475 and 2529 levels.
- STATE BANK OF INDIA INTRADAY LIVE CHART
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