January 31, 2014

  • Silver daily chart shows price in a bearish descending triangle pattern.
  • Weekly chart shows price testing crucial swing low.
  • Price will turnaround in favor of bulls only if it breaks above 200 Day SMA. Staying below it will attract more selling.
  • APPLE EVENING STAR CANDLESTICK PATTERN
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  • ES Daily and hour chart trading near crucial support levels.
  • Hour chart is likely to give a bounce if the support line is held.
  • APPLE EVENING STAR CANDLESTICK PATTERN
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  • Apple daily chart looks like price moving towards 200 Day SMA. Weekly chart too looks bearish as the stock is set to close below 20 Week SMA.
  • Monthly chart is about to confirm a Bearish Evening start candlestick pattern. Price closing below 20 Month SMA will favor bears in the medium term.
  • SPY ANALYSIS AFTER CLOSING BELL
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  • Bank nifty Weekly MACD shows a bearish cross.
  • Daily chart shows price below 50% Retrace level. Sustaining below this level may take price towards the golden ratio.
  • Weekly stochastic is yet to become oversold so sideways to negative price action is likely to continue. Up moves or bounces are likely to face resistance at higher levels.




  • SPY Reacting from 100 Day SMA. 
  • Bears of SPY are hoping that the bounce will find resistance at the broken SMA's like 20 and 50 Day SMA and thus forming the right shoulder of the Head and Shoulders pattern.

January 30, 2014

  • Dow Jones 4 Hour chart shows price trying to stay above support zone at 15700 and 200 Period SMA.
  • Immediate resistance at 30 minutes cloud. Bulls may gain strength if price starts to trade above 30 Minutes cloud.
  • Gold extending its weakness at 200 Day SMA.
  • 4 Hour charts shows crucial levels in the rising support line and 200 Period SMA. If these two levels are not held a bigger fall is likely in gold.
  • SPY ANALYSIS AFTER CLOSING BELL
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  • ES One hour chart shows crucial resistance level at 100 Hour SMA.
  • 30 Minutes chart shows the broken support lines. Further fall on breaking the blue support line above which es is trading now.
  • Last chart shows the crucial support line in daily chart. Repeated attempts are being made to break below this line. If the attempts continue to fail a bigger bounce is possible.
  • BLACKBERRY Resistance Levels
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  • Blackberry weekly chart shows price getting resisted at 38.2% Fib level and 50 Week SMA. Confluence of resistance stopping Blackberry bulls from moving up. Further strength only on price closing above these levels.
  • Bears of Blackberry need price to close below 9.47 with  MACD Bearish cross for a bigger correction to follow.
  • FORD DEATH CROSS UPDATE
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  • Reliance daily chart shows price falling in a descending channel. In a previous post we saw price near the resistance line which gave a good short trade.
  • Daily chart shows stock nearing a Death cross.
  • Bulls need support from 50 Week SMA for a possible bounce towards the channel resistance lines again.




  • SPY Daily chart shows price testing the crucial 100 Day SMA and Ichimoku cloud
  • Weekly chart is near the rising support line from 134 levels.
  • If the levels are held an oversold bounce is likely here. Recent price action in weekly chart does favor bears But it needs to break the crucial up trend line to extend gains on the downside.
  • FORD DEATH CROSS UPDATE
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  • Crude oil one hour chart shows an ascending triangle pattern.
  • Price if continues to stay above 50 day sma may lead to 200 sma.
  • Price need to close above the falling resistance line shown in chart 2 for a bigger up move to happen. 
  • FORD DEATH CROSS UPDATE



January 29, 2014


  • Ford Daily chart is nearing a Death cross. 
  • Weekly chart is testing 50 Week SMA and a crucial support zone between 15.10 and 15.30. Death cross will perform well if the above mentioned levels gets broken on closing basis.
  • YAHOO Chart Analysis
  • Weekly MACD Bearish cross looks good for Bears of Yahoo. MACD histogram and price also shows negative divergence. But price has to trade below 20 Week SMA for a bigger down move to happen.
  • Daily chart shows price getting support at the cloud. Price must close below the cloud for a bigger correction.
  • Price staying below 50 Day SMA will favor bears of yahoo.
  • FACEBOOK Chart update





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  • ES Daily chart shows previous resistance line acting as support so far.
  • 38.2% Fib level too has given support. One can add the 100 Day SMA to there as well which makes this a crucial support zone.
  • Hour chart shows price unable to stay above the hourly cloud.
  • Bank of America Trend update

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  • GLD Weekly chart shows price near falling resistance line.
  • Daily chart shows price testing resistance zone between 121.82 - 122.83.
  • Last chart shows price near Middle Bollinger band. GLD Bears need a negative candle at 20 Week SMA for a bigger downfall to happen.
  • GOLD TREND ANALYSIS


 
  • Apple Gap's down and closed the day below 100 Day SMA. Sustaining below 100 SMA may target 200 day SMA in the coming day's.
  • Weekly chart has fallen below 20 Week SMA. Weekly chart also shows a bearish MACD cross.
  • Last charts shows weekly Top's. For the current breakdown price is likely o test 50 Week SMA.
  • FACEBOOK SUPPORT 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.

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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