February 28, 2015

  • Google Weekly chart shows price moving within a channel. Price for now is moving towards the resistance line.
  • Daily chart shows immediate resistance at 560. Daily close above 560 should take price towards the upper resistance line.
  • Weekly MACD is looking positive. This setup will gain strength if price is able to sustain above 596 levels
  • APPLE SELL SIGNAL
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  • Facebook weekly chart shows weakness near range top
  • Daily candle shows a Bearish engulfing pattern. It is not a complete engulfing. Real body of the previous day's candle is engulfed which is enough to be considered as an engulfing pattern. This is significant because of the weakness near Weekly range top.
  • To confirm bearishness though price has to close below 78 levels. Its a sell only below 78 for a possible visit to the Range Bottom near 73 levels.
  • APPLE SELL SIGNAL
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February 27, 2015

 
  • Crude oil 4 Hour chart shows price moving around 200 period SMA. This support zone is the Mid point of a range shown in weekly chart.
  • So a bigger move in Crude oil will be possible only when price moves out of the weekly range.
 

  • No Sell signal Yet in MACD Indicator But it looks like we may get one soon. Weakness can only be confirmed if price breaks below 126 level. On seeing yesterday's price action it looks like price will remain in this range with positive bias for today.
  • Weekly candle looks interesting for bears. If it closes like this or closer to the current price then there is a possible Doji reversal candle in the making.


 
  • Silver 4 hour chart shows price unable to move above the resistance levels discussed yesterday.
  • Price has fallen back into the range as seen in second chart. 
  • For silver bulls price must sustain above the cloud for a bigger up move to follow.



  • Bank nifty at crucial levels. It may move up after testing these levels or bigger weakness can be seen if the levels are not held.
  • Bears need a weekly close below 20 Week SMA for bigger falls to happen.
  • Bulls may try to defend the rising support line.
  • PIN BAR OF BANK NIFTY
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  • Crude oil is falling back to crucial support levels in 4 Hour time frame.
  • 200 Period SMA for this time frame has held for sometime now. If price manage to close below this level bigger falls are possible.



February 26, 2015

DAILY CHART
WEEKLY CHART
ONE HOUR CHART
  • Facebook weekly chart shows price in a broad range.
  • Daily chart shows price moving towards resistance level of 82.17
  • Weakness only if price falls back below 80.34 levels.
  • Bigger up moves only if price breaks out of the weekly range





  • Silver 4 Hour chart shows price testing down trend lines.
  • 4 Hour cloud too has acted as resistance so far. Silver bulls needs to stay above the cloud for bigger up moves to happen.
  • One hour chart shows price trying to move above a range.



  • Nifty Daily chart shows immediate support and resistance levels. Weakness if price stays below 8726 levels.
  • 2nd chart shows Diverging price and RSI Channels. This is a negative setup which needs confirmation. Price needs to break below this pattern for this one to work well for bears.
  • Another support is the the Rising 100 Day SMA. Attempts by bears to stay below this line has failed so far. Bigger weakness if price stays below this line.

February 25, 2015


  • Crude oil one hour chart shows a descending triangle with a false breakdown.
  • 4 Hour chart shows crucial support levels. More weakness if these levels are broken on closing basis.


  • Gold 4 hour chart shows price falling in a channel.
  • 4 Hour cloud is the Immediate resistance level in this time frame.
  • Price in Daily chart is trying to stay above the golden ratio. If this level is not saved then bigger falls are possible. 



February 24, 2015

  • Weekly chart shows the bounce of crude oil loosing strength even before reaching 23.6% Fib level.
  • Daily chart shows price in a range
  • Price continues to stay below daily cloud. More strength only if price is able to stay above the cloud.





  • ES Daily chart shows price above the Big rang.
  • One hour chart shows previous resistance level acting as support. These levels must hold for bulls to gain more strength.
  • Weakness if price falls back below the One hour cloud.



February 19, 2015


  • Gold daily chart shows price at possible support line and Golden ratio.
  • Bulls are slightly weaker for now as price stands below 200 and 50 Day SMA. More weakness if the above shown levels are not held.
  • Possible bounce if price moves back above 50 and 200 SMA from the current levels.



February 11, 2015

 
 
  • SBI Took support near Golden ratio.
  • Price is also near 200 Day SMA.
  • Bulls need not fall below 275 levels and 200 SMA on closing basis. Bears would become stronger only below these levels.
  • BEARISH PIN BAR - BANK NIFTY
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February 10, 2015

  • Gold up move was stopped at 100 Week SMA.
  • Daily chart continues to look weak. It will turn weaker if price starts to trade below the cloud.
  • 4 Hour Time frame will remain weak below the cloud. 




Disclaimer

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.

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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