March 29, 2013

  • Weekly stochastic has given a sell signal.
  • Week has also given a bearish engulfing pattern. 
  • Next crucial support level in weekly chart is at 774. Before reaching there bears must close below the daily 50 Day SMA.
  • BLACKBERRY WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
-->
  • Blackberry daily chart shows a contracting triangle pattern.
  • Weekly charts shows the levels which bulls and bears must cross for bigger moves.
  • Bears must close the week below 20 Week SMA for a bigger fall to happen.
  • For bulls the Bearish Pin Bar at 100 Week SMA looks a strong resistance area. Bulls must close above 100 Week SMA for bigger up moves to happen.


  • Nifty bounces off 200 Day sma.
  • Weekly chart too shows price trying to stay above lower bollinger band. If the up move holds price may move towards middle bollinger band again.
  • Immediate resistance levels are shown in the Fib levels.


  • SPX Continues to break in favor of bulls.
  • No weakness in daily chart as price continues to move up in an ascending channel.
  • Last chart shows the next target at Upper Bollinger band 1575. Weakness on if price starts to trade below 20 Day SMA.

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