February 28, 2014

30 MINUTES CHART 
5 MINUTES CHART
  • Tesla 30 Minutes chart shows price in a range. Price is testing the range support zone at 244.
  • Daily close below 244 will strengthen Tesla bears for targeting the GAP.
  • 5 Minutes  chart trading below the falling resistance line. Possible intraday bounce if price starts to trade above this line.
  • APPLE Chart analysis
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  • Crude oil four hour chart shows price near the rising trend line and testing the 4 hour cloud.
  • Price also seen in a range. These rectangles in four hour time frame has given bullish breakouts so far.


  • Apple takes support at Golden ratio.
  • Price moves above 20 Day SMA. Immediate resistance levels at 38.2% Fib level and 100 Day SMA.
  • DOW Jones Analysis after closing bell
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  • Bank Nifty near 50 day SMA.
  • Price also near previous support level (10780) and 38.2% Fib level.
  • Weekly candle is looking bullish, Bigger up move possible if price starts to trade above 20 Week SMA.
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  • Dow Jones is trading near a crucial resistance line and 78.6% Fib level. For bears its crucial that price shows weakness here. Bears further need a close below 50 day SMA to confirm bearishness.
  • Price if continues to stay above 50 Day SMA will clear the above mentioned resistance zone and may take price towards newer High's.



February 27, 2014


  • Apple Hour chart shows the fall pausing at Golden ratio.
  • Price must trade above the 30 Minutes cloud for a bigger up move to happen.
  • Hour chart shows price trading below 200 Hour SMA. 



  • ES one hour has fallen below 200 Hour SMA.
  • Four hour chart shows possible support at the cloud which may save bulls from a bigger fall.
  • QQQ ANALYSIS AFTER CLOSING BELL
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  • Blackberry shows a bearish engulfing pattern near recent swing High. If price starts to trade below 10.21 this can also act as a Double top pattern. Setup may not give bigger gains for bears as price staying above 200 Day SMA. 
  • Bearish view will be invalid if price close above 10.85. Bullish inverted head and shoulders can also play out if price stays above 200 Day SMA. 
  • QQQ ANALYSIS AFTER CLOSING BELL
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  • The broadening pattern of QQQ discussed in an earlier post continue to be valid..
  • The Daily MACD is showing bearish alignment But needs price to close below the range for confirming weakness.
  • GOLD CHART ANALYSIS
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February 26, 2014


  • Gold bulls trying to stay above 200 Hour SMA and golden ratio of One hour time frame.
  • Daily chart shows bearish price action at golden ratio. Bearish Daily candle here may give a bigger fall and thus breaking below the support levels shown in Hour chart.
  • SILVER reacting from weekly resistance levels
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  • Silver 4 hour chart shows bearish price action from a consolidation pattern.
  • Weekly chart shows price reacting from the falling resistance line. Bearish weekly candle here may result in a bigger fall.




  • Daily chart of Bank of america shows price doing a consolidation in a Triangle pattern.
  • Weekly chart shows the larger trend remains up.
  • Price moving back above daily cloud may result in an upper breakout. Weakness on price closing below the cloud
  • BLACKBERRY Analysis after closing bell




  • Nifty daily chart shows price testing the GAP and Daily ichimoku cloud. Price need to stay above these levels for a bigger up move to happen
  • Price is testing the golden ratio now. Nifty managed to close above 50 Day SMA. Weakness here only if price closes below 50 day SMA.
  • CRUDE OIL SUPPORT LEVELS
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  • Blackberry continues its bullish breakout from a bearish Descending triangle pattern. Price has hit a crucial resistance level at 10.85. Price although is moving away from 200 Day SMA has to take out the recent swing high of 10.85 for extending this up move.
  • Last chart also shows a possible bullish inverted heads and shoulders taking shape.
  • CRUDE OIL AT SUPPORT LEVELS
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  • Crude oil daily chart testing previous resistance zone which may act as support. 4 Hour chart also shows price at the cloud and rising support level. 




February 25, 2014



  • Apple daily chart shows price trying to take support at 20 day SMA and 50% Fib level. Four hour chart too shows a PIN BAR like reversal candle which may help apple bulls with a bounce.
  • 100 Day SMA at 530 is a resistance level. Bullish on trading above 530 levels. Bearish Below 522
  • BLACKBERRY ANALYSIS AFTER CLOSING BELL
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  • Falling wedge of axis bank which was discussed in a recent post continues to perform well for bulls. price has closed above the crucial 50 and 200 Day SMA.
  • Price for now is near the Golden ratio. No weakness here means price may extend towards the target level for the pattern which is at 1326 level.
  • S&P 500 Futures Testing the breakout zone
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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