December 31, 2014

  • EURUSD Monthly chart shows a slanting support line. Second chart shows price at 50% Fib level. Some more downside likely before a bigger bounce could happen.
  • Daily chart if starts to trade above the cloud can confirm a bigger bullish trade. Staying below the cloud the correction is likely to continue.
  • Apple is likely to remain in a Fibonacci range. Mostly stocks tend to range between 61.8% and 38.2% before a big move happens.
  • Weekly chart shows price still in an up trend. Good buying opportunity may come if price test the up trend line again.
  • Immediate resistance at 114. Support levels are 50 Day SMA and 111 level.



 
  • Reliance weekly chart shows possible rising trend line.
  • Second chart shows resistance zone between 910 - 930 level. Fib level also shows broken golden ratio around this zone. So bullish only if price manage to close above this zone.
  • Reliance will remain weak on staying below this zone. Breaking below the trend line will strengthen bears of reliance industries.


December 30, 2014

  • ES 30 Minutes chart shows price trying to put up a support zone in place.
  • 4 Hour chart shows price is pausing at a crucial pivot zone. Previous resistance level is trying to act as support.
  • Last chart shows price below Hourly cloud. More weakness here if price continues to stay below the cloud.





  • NIFTY Daily stuck in an ascending wedge like pattern as shown in first chart. Till price stays within the boundaries the steady up move is likely to continue
  • Ichimoku cloud shows price testing it twice in the recent past. Bears need price to sustain below the cloud for bigger breakdowns to happen.
  • MACD Shows a possible buy signal coming But this can be a trap for bulls. Its better to look at the price levels to confirm strength and weakness.
  • Last chart shows immediate resistance levels in 20 and 50 Day SMA.



December 19, 2014

  • Looks like nifty has strong support at the current levels. But bulls need a weekly close above 20 Week sma to confirm the same.

December 17, 2014

  • Nifty daily chart shows price near some support levels. But weekly is not looking good. For Bulls price need to get back above 20 Week SMA for a possible reversal to happen.
  • Bears need price to close the week below 20 Week SMA.




December 16, 2014

  • ES Hour chart shows immediate resistance levels.
  • Daily chart shows Bulls trying to protect the crucial support level of 200 SMA.
  • Price has to sustain above the Hourly resistance levels for this bounce to sustain.




December 15, 2014

 
  • ES Daily moving towards 200 SMA
  • Price is trending down below the cloud in 4 Hour time frame. Bears need price to close below 200 SMA for a bigger falls to happen.
  • Bulls need a reversal pattern near 200 SMA.



December 11, 2014

  • chart 2 shows crucial support zone around 8150 - 8180 zone.
  • Last chart shows price testing lower Bollinger band. Immediate resistance at 20 Day SMA.
  • First chart of nifty shows the consistency of the rising resistance line, 




December 9, 2014

 
  • ES is trading below the 4 Hour cloud. 
  • Price is moving towards previous resistance levels which may act as support. 
  • For bigger correction the previous resistance zone must be broken. First test at these levels may result in a powerful up move.



December 1, 2014



  • 5 Minutes shows price in a range resolving this range may give bigger direction.
  •  Hour chart shows price trying to hold above crucial support levels as shown in first and second chart. Apple bears need a Hourly close below 100 Hour SMA which is yet to happen.



  • ES 4 Hour chart shows price testing the cloud and 100 period SMA.
  • Daily chart looks negative and if the fall continues it may test the 23.6% Fib level and previous resistance zone shown in 3rd chart.



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