February 20, 2014


  • Apple 30 Minutes has closed below the cloud.
  • Fall started from daily cloud is testing 100 Day SMA. Closing below 100 SMA may extend the fall towards 515 levels.
  • APPLE BEARISH GRAVESTONE DOJI
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  • ES Testing 200 Hour SMA.
  • 4 Hour chart shows price testing 23.6% Fib level.
  • Last chart shows price below the cloud in one hour time frame which is bearish. Hourly close below 200 Hour SMA will lead to bigger falls.
  • APPLE BEARISH GRAVESTONE DOJI


WEEKLY CHART
DAILY CHART
WEEKLY CHART
 
  • Bank Nifty Weekly chart shows stochastic reaching oversold zone. No reversal confirmed yet.
  • Daily chart is testing falling resistance line. Bulls must trade above this line.
  • Weekly chart also shows weakness at cloud. Bulls should do a cloud breakout for a bigger up move to happen. 
  • Weakness at the falling resistance line will favor BN Bears.
  • AXIS Bank Falling Wedge breakout and Resistance levels
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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