February 19, 2014

  • Apple daily chart shows a bearish candlestick Ichimoku cloud.
  • Bearishness can be confirmed if price makes a lower closing today.
  • Price is testing 30 Minutes cloud. Weakness if price starts to trade below 30 minutes cloud.
  • ES Support levels
  • ES one hour chart shows price testing 100 Hour SMA which may act as support levels.
  • Price also testing the cloud. Closing below these levels shows weakness which may lead to 1820 and 1800 levels.
  • Not breaking below the cloud will lead to new high's.

  • Axis bank has given a breakout from the Falling wedge pattern which was discussed in an earlier post.
  • There was a 50 point up move yesterday, But the volume increase although above average is not enough. There should be follow up increase in volume and price.
  • The stock is approachin crucial resistance levels like 50, 100 and 200 SMA between 1170 - 1200. Only a close above 1200 will confirm further strength for bulls.
  • Hourly cloud of gold is acting as support.
  • Daily chart of gold shows price nearing the golden ratio.
  • Weekly chart has Upper bollinger band as immediate resistance level.
  • Price sustaining above the hourly cloud will extend the up move. Weakness if price starts to trade below the hourly cloud.
  • CRUDE Oil Bullish price action


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