January 21, 2014

  • Blackberry daily chart testing 200 Day sma.
  • Weekly chart is at Upper bollinger band
  • Bulls must try to close the day above 200 SMA for extending this up move further. Bearishness at 200 SMA may lead to a pullback.
  • IBM Daily chart shows price testing the crucial 200 Day SMA. Daily chart is trying to form  a bullish pattern. There is crucial resistance between 190 in daily chart and 194 in weekly chart as shown in the last chart. Crucial support level is at 183 levels.

  • Rcom daily chart shows price near falling resistance lines. Bulls need a daily close above the resistance lines for extending the bounce.
  • Price is also seen testing 50 day SMA. Need a bullish candle above this line to confirm a bigger up move.
  • Weekly chart shows price at make or break levels. If price get resisted at the falling line another fall is likely which will test 50 week sma.


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