March 31, 2015

  • First chart is 4 Hour time frame which shows price at 50% Retrace level for the current up move.
  • One hour chart shows price testing 200 Hour SMA.
  • Hourly cloud is seen as immediate resistance. To resume the up move bulls must break above the hourly cloud.
  • Death cross of MICROSOFT
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  • Microsoft has a death cross and a Bearish head and shoulders pattern in place. Daily chart is getting resisted at 50 Day SMA.
  • Crucial support zone between 40.23 - 40.61. Daily close below this zone will strengthen bears further for MSFT.
  • APPLE WEEKEND UPDATE
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  • First chart of Reliance Industries shows the Daily time frame with clear down trend in place. For now price has given a breakdown from a descending triangle pattern and is getting ready for another bounce towards the falling resistance line.
  • If 793 shown in weekly time frame acts as a major bottom or support zone a bigger bounce is possible. If this level does not hold Bears will further gain strength.





  • ES Charts show price testing the middle of the range. It is also the 200 Hour SMA and the Golden ratio which is stopping the bulls for now. If price crosses the levels, test of recent High's is possible. Weakness here may lead to range bottom again.



March 30, 2015


  • The fall from shooting star and 200 SMA in daily chart continues to look good for gold bears.
  • Now One hour and 4 Hour time frames are nearing possible support levels. If these are held gold may give a bounce within the shorter time frames.
  • Bigger correction if 200 SMA is not held.
  • GOLD ONE HOUR CHART ANALYSIS
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  • On closing basis crucial number on daily chart is 17830. Bulls need to stay above this level on closing basis to avoid a test of 200 SMA.
  • Price action in weekly chart is not looking all that encouraging for bulls as can be seen in 3rd chart.
  • Daily RSI is oversold, But if this is going to be a trending down move the oversold can remain oversold for long time. So its crucial for Bulls to stay above 200 SMA for an up move to happen.
  • NIFTY WEEKEND UPDATE
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  • Gold one hour chart shows price contraction between support and resistance levels.
  • Support for the time frame seen at 100 SMA. Crucial resistance in Hourly cloud.
  • There is weakness in daily time frame which can change if Hour breaks above the cloud. Bigger correction if 100 Hour SMA does not hold.
  • CRUDE OIL WEEKEND UPDATE
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March 29, 2015


  • Silver daily chart shown with a bearish shooting star candlestick pattern.
  • Price in daily chart is pausing at 200 Day SMA and Golden ratio. Silver bulls must cross 200 SMA to extend the bounce.
  • CRUDE OIL WEEKEND UPDATE
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  • Apple testing crucial support levels around 121-122 levels.
  • 50 Day SMA and 38.2% Fib levels must hold to avoid a correction.
  • Closing below 121 levels will favor apple bears.
  • CRUDE OIL WEEKEND UPDATE



 
 
  • EURUSD Daily chart nears 50 Day SMA and the cloud. Both these levels have acted as strong resistance levels for euro against us dollar.
  • Month chart shows a long lower shadow for the current month candle, Which suggest the pair is trying to form a reversal. Problem for this view is the remaining 2 day's of the Month. Bulls of EURUSD need a close at the current levels or Higher.
  • CRUDE OIL WEEKEND UPDATE
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  • Tesla weekly chart shows price below 100 Week SMA.
  • 185 and 177 are crucial levels for Tesla.
  • Month chart is looking good for bears. Price is forming a candle below 20 Month sma. Lower closing for the month may target lower BB in the coming months.
  • Oversold bounces in daily chart can be used to enter short trades.
  • CRUDE OIL WEEKEND UPDATE
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March 28, 2015

  • Google weekly chart shows another bullish attempt getting rejected at the resistance line
  • Daily chart shows price falling from a bearish engulfing pattern. Price has also closed below 200 Day SMA.
  • Levels which Google bears need to break are 38.2% Fib level, 50 Day SMA and 544 on closing basis. Below these levels bigger correction is possible.
  • CRUDE OIL WEEKEND UPDATE
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  • Crude oil up move got resisted at 100 Day SMA.
  • For crude oil bulls price needed to stay above the daily cloud instead price falls back and closed below the cloud.
  • As the second chart shows price is still inside the daily range. For bigger moves in crude oil this range must be resolved.




  • Nifty is near its 200 Day SMA
  • Daily chart shows Oversold RSI. This set up needs help from 200 SMA. If 200 SMA holds bulls may get a reversal.
  • But weekly chart is looking good for bears. As the weekly candle has closed well below 20 Week SMA after a long GAP. 
  • I have shown RSI as oversold. If this is going to be a trending market. The oversold indicator will remain oversold and prices may keep falling. So 200 SMA is crucial for longs.
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March 27, 2015

  • ES 4 Hour chart shows price moving around the recent support zone.
  • Bears need a daily candle to close below the support levels shown in chart 2 for bigger falls to follow.
  • All Big corrections that happened recently ended at or near 200 SMA. So bulls can expect this trend to continue.




 
 

  • Gold daily chart shows a bearish shooting star candle
  • Weakness is seen at 200 Day SMA
  • For gold bears price need to sustain below Hourly cloud. 
  • Possible continuation pattern in one hour chart.
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  • Immediate support levels for apple are 38.2% Fib level and 50 Day SMA. Recent swing low of 121.63 must hold on closing basis to avoid a bigger correction.
  • Stronger bulls on daily closing above 129.24 levels.
  • CRUDE OIL CHART ANALYSIS
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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