May 22, 2014

  • Price nearing recent High's
  • Weakness for the day only if price starts to trade back below 78.6% Fib level.
  • 30 Minutes cloud may also act as support.

  • Facebook one hour chart shows price above the triangle pattern.
  • 4 Hour chart shows 100 period SMA as next obstacle for Facebook bulls.
  • Price is staying above the 4 hour cloud. closing above 100 period SMA may extend the up move.

  • ES 4 Hour chart with fib level shows price getting resisted at 78.6% Fib level.
  • More importantly price is trying to stay above the crucial resistance zone of four hour chart.
  • One hour chart shows the resistance zone and fib levels as immediate support zone.

  • 5 Minutes chart shows trending move favoring bulls. 
  • 15 Minutes and 4 hour chart shows possible resistance levels for the up move.
  • Bears need to break the 5 Minutes trend line for a possible reversal to happen

  • TCS Trying to move back above its 200 Day SMA.
  • Price did not break below the weekly support zone between 1970 - 2011.
  • Price also took support near the weekly cloud.
  • Bullish for the stock if price is able to close above 200 SMA again. Bearish only on closing below 1970 levels.


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