July 25, 2013

  • Apple four hour chart shows price above the falling resistance line. Weakness only on price falling back into this pattern.
  • Weakness on price falling below 434 or 38.2% Fib level as shown in second chart.
  • Bearish engulfing at 200 Day SMA continues to do well.
  • Price closed below 50 Day SMA with above average volume.
  • Daily chart has a Death cross. Bearish cross will do well if price starts to trade below 80 and 79.
  • ES Chart analysis

  • First chart is one hour time frame with immediate resistance levels. Broken 200 Hour SMA may act as resistance on up moves.
  • 4 Hour and Daily chart shows crucial support levels.
  • Support line shown below has broken and gave a good fall in favor of ITC Bears.

  • ITC 30 Minutes chart shows price contraction.
  • One hour chart shows price near 50 Hour SMA.
  • Strength above 374 and Weakness below 368.

  • Bank Nifty daily chart shows price violating crucial support levels.
  • Weekly candle testing 100 Week SMA.
  • Fib levels shows price near 50% level which is near 10590. Closing below this level means BN moving towards 10000. Taking support near 50% Fib level may lead to an up move.

  • BIDU Daily chart shows a bullish Golden cross.
  • For the weekly trend to turnaround price need breakout and sustain above the weekly cloud.
  • Last chart shows possible resistance levels for tomorrow on breaking above 115 levels.

  • SPX Daily line chart shows price showing weakness near channel resistance line
  • One hour chart shows price breaking the up trend line. More weakness on price trading below the hourly cloud.
  • Sustaining above the cloud may resume the up move for one more hit at the channel resistance line before the big correction could start.


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.


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