June 5, 2013
- Nifty nears its 50 Day SMA. Price is staying below 38.2% Fib level which is good for bears. Strength only on price staying above 38.2% Fib level.
- Weekly chart shows bearish engulfing and sell signal. Further weakness on price trading below 5 Week Low EMA.
- NIFTY 50 STOCKS LIVE CHARTS - 5 MINUTES TIME FRAME
- Today's up move got resisted at 20 Day SMA.
- Price is moving in a bullish pennant like pattern. Bulls need a resistance line breakout to extend this up move.
- Price closed above 38.2% Fib level. Rising 50 Day SMA and 50% Fib level are crucial support if price falls.
- BULLISH ENGULFING COCA COLA
- SPY Testing 200 Hour SMA again.
- 4 Hour chart shows price testing 38.2% Fib level. If this level does not hold price could fall towards the GAP and Golden ratio.
- Second chart shows triangle breakdown and the retest of the support line resulting in a fall.
- For bulls of SPY Price has to move back above 200 Hour SMA to avoid a bigger fall.
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