June 30, 2015
- ES Falls below 200 SMA, Recently this event has led to sharp reversals in favour of Bulls. Now bears need price to sustain below 200 Day SMA. One or Two daily candles below this level will favour bears to extend gains.
- Negative divergence has been there for quite some time now without any big corrections.
- Price is testing the lower bollinger band. A Weekly close below this line may extend the fall.
- Bulls just need to make a close back above 200 SMA to avoid bigger falls.
June 29, 2015
June 28, 2015
- Apple daily and weekly chart shows two support lines for bulls. For now bulls are lacking momentum. Bigger worry for apple bulls only below the weekly up trend line and the 123.1 level shown in monthly chart. Month chart shows a 3 month range. This range must break and weekly and Monthly closing basis for bigger directional moves to happen.
June 26, 2015
- Crude oil month trying to form a bottom. Week is in a range. Bulls need price to do an upper breakout from the range to confirm the bottom formation. Week continues to stay above the weekly cloud which is acting as crucial support level. range breakdown and close below the cloud may help bears to come back.
June 25, 2015
June 24, 2015
- Daily chart shows price moving above the resistance line. Bulls need a close above this line. But the last One hour time frame shows weakness at top. Price need to sustain above 200 Hour SMA For bigger up moves to happen. For now bulls seems to loose momentum. Sustaining above the hourly cloud will keep the bulls interested.
June 23, 2015
- Trying to explain how New and experienced traders look at an indicator.
- First chart shows RSI reaching oversold zone Here new traders anticipate a reversal without seeing or confirming one Then Price makes a new low. New traders stop loss hits here and smart money makes a buy. If you see the second chart the oversold RSI trade did give profits but not before shaking out new traders.
- Having Said that in a down trend if you Jump in on a new low thinking smart Money is going to come in your pain will increase as in a trending market the oversold or overbought condition sustain for a longer time. That's why you need to confirm reversals always with price action.
June 21, 2015
June 19, 2015
- Reliance moves above the 940 resistance zone with good volume increase. As can be seen from the weekly line chart price is moving into a bullish zone out of a weekly range. Last time it did this the stock moved past 1100 levels easily before falling again. This time too if resistance levels like 1000 and 1030 are crossed chances for a bigger up move exist.
- Ascending triangle of REIANCE INDUSTRIES
June 18, 2015
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.