February 26, 2013

 
  • GBPUSD Monthly chart shows a bearish breakdown from a triangle pattern.
  • Daily chart too shows  a Double top breakdown.
  • Weekly chart shows price at a possible Support line. Holding this line a bounce is likely to happen.
  • As we approach month end if the monthly trend is to become stronger then Weekly support line is unlikely to hold.
  • EURUSD CHART ANALYSIS
-->


  • EURUSD Weekly chart shows the trend line violating from 1.20 levels.
  • Price falling towards crucial support of 200 Day SMA.
  • Confluence of support at 50% Fib level and 200 SMA may act as strong support level.
  • ES CHART UPDATE
-->

  • QQQ Daily chart shows price testing 100 Day SMA.
  • Below 100 SMA and 66.17 price could fade the GAP shown in second chart.
  • Last chart the weekly time frame shows a possible bearish Head and shoulders pattern. For now price may move towards the rising trend line from 50 levels.
  • SPX ANALYSIS AFTER CLOSING BELL
  • IWM SUPPORT LEVELS
-->
 
  • ES 4 Hour chart is consolidation below 200 Period sma. It was a similar price action yesterday which was below 100 Period SMA.
  • 4 Hour has clearly fallen below the Ichimoku cloud which will put pressure on bulls at higher levels.
  • One hour chart shows another bearish flag kind of consolidation which happened yesterday.
  • SPX ANALYSIS AFTER CLOSING BELL
-->
 
  • IWM Has given another bearish engulfing pattern in daily chart.
  • Immediate support level at 23.6% Fib level and 88.69. 
  • Breaking the above mentioned support level may lead to 50 Day SMA and the Unfilled GAP shown in the last chart.
  • SPX ANALYSIS AFTER CLOSING BELL
  • NIFTY Falling from the head and shoulders pattern.
  • Price has clearly violated 100 Day SMA. Bears need a daily close below 100 SMA for further gaining strength.
  • For bulls approaching Golden ratio may give a hope for reversal Any reversal from the current levels should close back above 100 SMA for a meaningful pullback to happen.





  • TATA Steel daily chart falling in a channel.
  • Falling below 358 may extend the fall towards 347 levels.
  • Monthly chart shows chances for even bigger falls if 347 levels does not hold. 
  • DLF BEARISH ENGULFING PATTERN
-->

 

  • DLF Daily chart shows a bearish engulfing pattern.
  • For bears price need to fall below 20 Day SMA for a bigger correction to happen.
  • Weekly chart shows a Rounding bottom pattern which may avoid a breakdown.
  • TATA STEEL CHANNEL AND SUPPORT LEVELS
-->


 
  • First chart shows the beginning of the fall from the weekly resistance line.
  • Second chart shows the next level which bears need to takeout to extend the fall.
  • Finally the last chart shows possible depth of the fall if MACD Sell signal gets confirmed.
  • BANK OF AMERICA CHART UPDATE
-->

  • GOLD 4 Hour chart with falling resistance line.
  • Other two charts also shows potential resistance levels. 50 Period SMA and 38.2% Fib levels may act as resistance levels.



Disclaimer

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.

Followers

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