November 6, 2014

  • EURUSD Daily chart continues to show weakness near the cloud.
  • Hour chart shows  a descending triangle breakdown. If price remains below this pattern further correction is possible. Strength only if price closes back above this pattern.

  • ES One hour chart shows price testing the cloud and 100 Hour SMA again.
  • Daily chart shows price testing the recent High's. Its likely that price may remain in a range for sometime before making a big move from here.

  • Reliance power has given a bearish engulfing at 200 Day SMA
  • For bulls of this stock price need to stay above 50 Day SMA.
  • Week if confirms a bearish candle below 20 week sma, stock may fall towards 69 levels again. Hope for bulls only above 200 Day 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