July 11, 2014

  • ES 4 hour chart testing 200 period SMA
  • Daily chart is testing the up trend line.
  • Price need to get back above the cloud of four hour time frame to avoid a bigger fall.

July 9, 2014

  • Crude oil testing crucial support levels.
  • Price staying below Hourly cloud will continue to favor crude oil bears.
  • Daily chart if holds above the support levels mentioned may result in a bounce.

  • Nifty Has been diverging negatively for sometime now. Price and RSI shows Negative divergence as shown in 3rd chart.
  • Follow up correction only if price starts to trade below 20 Day SMA.
  • Crucial support levels for the medium term are 7441 and the Rising 50 Day SMA. 

July 8, 2014

  • EURUSD 4 Hour chart holding above crucial support zone.
  • One hour chart must sustain above the hourly cloud for bigger up move to happen.

July 7, 2014

  • ES 4 Hour and one hour charts with possible support levels

  • CNX IT Doing a fast rise to avoid a death cross in daily chart.
  • Price has moved above a crucial GAP area between 6600 and 6700 levels. Price is also staying above the Golden ratio.
  • Next resistance is at the Crucial round number 10000. More up moves if 10000 - 10150 level is crossed. 

July 4, 2014

  • ES 30 Minutes cloud and Hourly up trend line as Immediate support levels.
  • 4 Hour chart shows crucial support levels. Bulls will remain strong above these levels.

July 3, 2014

  • EURUSD Daily chart getting resisted at 200 Day SMA. Previous support zone in daily chart is acting as resistance.
  • Staying below the daily cloud will continue to favor EURUSD Bears.

  • ES 4 Hour chart shows price continues to sail above the cloud.
  • 2nd chart shows crucial support levels. No weakness till price stays above these levels
  • 30 Minutes cloud shown as immediate support zone.

July 2, 2014

  • Crude oil daily chart shows price below crucial support zone.
  • 4 Hour charts too is testing crucial support levels. Daily close below 104 levels may extend correction.

  • Bank nifty continues to remain sideways and also above the up trend line from 10064 levels. Weakness for BN only if price starts to trade below this support line. Closing outside this range may give the next bigger direction. This is a consolidation after an up trend which mostly results in a continuation breakout.

July 1, 2014

  • EURUSD Daily chart with immediate resistance levels. 
  • Weekly chart shows an up move from near the rising support line. If the resistance levels shown in daily charts are crossed then price may move above 1.38 levels.


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