June 30, 2014

  • Gold 4 hour chart shows price moving in a range.
  • 4 Hour cloud may act as support.
  • Daily chart shows price trying to avoid a death cross.




 
  • INFOSYS Weekly MACD was looking good until price hit the 20 Week SMA. Now Bulls here need a close above 20 Week SMA on closing basis for a bigger up move.
  • Daily chart is trading closer to 200 SMA. Unable to close back above 200 SMA means weakness continues for the stock.
  • Most crucial level for infosys to stay above is the weekly range shown in last chart. Staying above this range up moves are possible. 



June 29, 2014



  • SPY Daily seeking support at 20 day SMA
  • Daily line chart shows price staying above a wedge pattern. Weakness if price falls below 193.54 levels on closing basis.
  • Negative divergence in weekly charts has given very little for bears. Weekly chart shows a negative divergence which may result in a small fall followed by another up move.


June 27, 2014


  • As price nears the up trend line BN is moving in a range volatility has reduced. Bollinger band is contracting and all this could change on price hitting the up trend line. Breakout or breakdown from this range may give the next big direction in BN.



June 26, 2014

  • Crude oil 4 hour cloud and support levels in four hour is getting tested. More crucial is the previous resistance zone shown in daily chart, Recent dips to this level resulted in trading bounces. If this level does not hold a bigger fall is possible.




  • Bullish looking cloud chart for gold But for now price is stuck in a range as shown in four hour time frame. More importantly price is pausing at golden ratio. gold bulls must trade above golden ratio for bigger moves to happen. for now breakout from the 4 hour range may give larger direction.




June 25, 2014


  • ES bulls shows weakness as it breaks another trend line and testing the 4 hour cloud. But bears may gain strength only on breaking below the yellow horizontal support zone shown in first chart.



June 23, 2014

 
  • Silver above 50 Week SMA and the Falling resistance line of Weekly chart.
  • Possible resistance in weekly cloud. Last attempt to move up was stopped at the weekly cloud. For silver bulls to extend this up move price must move into the weekly cloud.


June 20, 2014


  • Daily chart shows previous resistance level acting as support which was the scenario discussed earlier. Now that the first touch at this level has given a bounce if tested again its unlikely to hold.
  • 4 Hour chart shows crucial support levels.



 
  • AMAZON Daily chart shows weakness at 100 Day SMA. Candlesticks shows a bearish engulfing pattern.
  • Price trying to move above the daily cloud. Bulls unable to close above the cloud for now.
  • Price is stuck between 50 and 200 Day SMA. A bigger direction only when these moving averages gets broken again on closing basis.
  • Immediate range is between 323 and 340. Violating these numbers may increase volatility for Amazon.
  • GOLD VIOLATES RESISTANCE LEVELS



 
  • EURUSD 4 Hour chart shows price falling back into the cloud. Recent attempt to stay above the cloud of this time frame too has failed.
  • Daily chart shows weakness as pair nears 50 and 200 Day SMA. Pair also nears a death cross in daily time frame as 50 SMA is about to cross below the 200 Day SMA.
  • Performance of Death cross will be decided by the weekly up trend line. If this line goes the death cross will look good. 
  • GOLD VIOLATES RESISTANCE LEVELS
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June 19, 2014

 
  • Gold moves above 50 and 200 Day SMA
  • Daily cloud too is broken by gold bulls. Daily candle closing above the cloud will add strength for gold bulls.
  • Last chart shows immediate fib resistance levels.


 
  • EURUSD Weekly chart shows price moving up from 23.6% Fib level.
  • Four hour chart too is trying to stay above the cloud. Recent attempt to stay above the cloud for this time frame was failed.
  • Now the crucial level here is the 200 SMA of Daily time frame. Unable to clear this level on closing basis may resume selling.


 
 
  • Nifty trying to hold above 5 Day Low EMA. Price is also trading near 20 Day SMA. Last touch at 20 Day SMA Gave a big up move.
  • Last chart shows price testing the rising trend line from 6600 levels. If the trend line holds an up move is possible. For bears need a close below 20 Day SMA.
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  • Gold daily charts are moving towards the resistance confluence again.
  • Gold bears will feel safe till price stays below the daily cloud.
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  • Crude oil daily chart shows price falling towards previous resistance level which may act as support initially.
  • Second chart shows Fib support levels. for now price testing 23.6% Fib level. Price also near 4 Hour cloud.

June 18, 2014

  • Hcltech took support near 200 SMA and is testing the daily cloud.
  • Price is also testing a crucial resistance zone as shown in chart 2.
  • Price need to sustain above the daily cloud for bigger up moves to happen.




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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"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