January 8, 2014

  • EURUSD Daily chart shows price testing 100 Day SMA and Rising support line from 1.27 levels. These two levels must break on closing basis for extending the current down move.

  • Blackberry daily chart shows price closing above 100 Day SMA and Daily Ichimoku cloud.
  • Weekly chart has also violated the 20 Week SMA. Blackberry bulls will gain further strength on a weekly close above 20 Week SMA. 

  • Infosys Weekly chart with MACD shows triple divergence. Price continues to trade above 5 Week Low EMA. Further weakness on price trading below the range in daily chart and the Week Low EMA.
  • Despite the bearish view above taking position against a news event is risky. One should follow proper money management rules so that it doesn't hurt the capital in a big way. 
  • Bank of America weekly chart shows price testing a possible resistance line. Bears of BAC need a weekly bearish candle at this stage for a possible correction or a sideways correction to follow.
  • Daily chart shows bearish engulfing pattern and Negative divergence both needs confirmation. Bearish weekly candle may confirm weakness.


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