December 31, 2015

  • ES Bulls need price to stay above 200 Hour SMA to avoid bigger correction. 2035 level shown in 4 hour chart is a crucial support zone to hold. Strength only if price stays above 2075 levels.



December 30, 2015

 
  • ES 4 hour chart shows price near the apex of ascending triangle. One hour chart shows price near support line, If holds an upper breakout is likely.

December 29, 2015

  • 4 Hour chart shows a bullish "W" pattern. The W is just the saucer part of a big cup and saucer pattern shown in daily time frame. But the bigger time frame is still favouring bears as price still stands below the broken trend line from 2011 lows. As long as price stays below this line bears will be interested in that big correction.



December 25, 2015


  • EURUSD 4 Hour chart shows price in a range. Daily chart is also approaching 200 Day SMA. 1.11 Levels shows Golden ratio as resistance. EURUSD bulls must stay above 1.11 levels on weekly closing basis to extend this up move.

December 24, 2015

  • ES 4 Hour chart continues to stay below the resistance levels discussed Yesterday. Bulls need to cross these levels to extend gains.


December 23, 2015

  • Crude oil weekly chart shows price trying to stay above the falling support line or the support line of the falling wedge pattern. Current up move is moving towards a possible resistance zone between 38 and 40 and shown in chart 2 and 3. For a bigger up move price must sustain above 40 levels.
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  • ES approaching possible resistance levels in 4 hour chart.


  • Nifty bulls need to sustain above 7852 levels for extending gains.
  • Intraday weakness below 7840 levels. If the support line shown in 15 minutes chart is not held bigger falls can be seen.


December 22, 2015

 
  • First solar weekly chart shows a broad range between 39 and 74. Within this zone 66 is a crucial resistance area. Daily chart shows a golden cross but this one will perform well only if price is able to close above 66 levels. Previous golden cross did not perform well because of resistance at 66 levels. For bears immediate strength if price closes below 62 levels.



  • First chart shows the Month time frame with its MACD Sell signal. Price is trying to put up a Topping pattern. Bears need price to stay below 1850 to gain further momentum. 
  • Next 2 charts shows price pausing above the Immediate support level of 1890 - 2000.

December 21, 2015

  • ES 4 hour chart shows price near support line. Bulls need price to stay above 50 Hour SMA for a decent bounce to happen from the current levels. Week is testing 100 Week SMA, Bulls need to stay above this line too to avoid bigger correction.
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  • Nifty month chart shows price getting support @ 38.2% Fib level for now. 
  • Weekly chart too shows the bounce from recent swing low, But the bounce is happening below the falling resistance line from 9119. As long as price stays below this line weakness can resume.
  • 4 Hour chart shows immediate resistance levels. Price for now is pausing at 38.2% Fib level. If bulls manage to cross this area then the swing high of 7972 along with 50% retrace zone may act as stiff resistance level.

December 20, 2015

  • Crude oil month chart shows price testing multi-year lows. Weekly chart shows a possible support line which is getting tested. If this line does not hold then CL should test 32 levels soon. If the support line holds then the positive divergence may come into play to give a decent bounce for crude oil.
  • S&P 500 WEEKEND UPDATE
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  • SPX Weekly chart shows price bulls trying to hold above 100 week sma.
  • Fib levels and support zone shown in other charts also shows crucial price level around the same area. So its crucial for bulls to defend this 1990 - 2000 price zone.


December 19, 2015


  • ES bulls need price to move back above the cloud for a reversal to happen from the current levels.

December 18, 2015


  • Apple weekly chart shows a descending triangle pattern. It also looks like a Head and shoulders pattern. The right shoulder got resisted at 50 Week SMA. Now price is likely to test 104-105 zone which is a crucial support. For bigger correction this level must break on closing basis. 4 Hour chart shows immediate support level at 107.30
  • S&P 500 Futures after closing bell
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  • ES Daily chart is approaching crucial support zone and Round number near 2000 levels. For a bigger fall bears need to stay below 1980 - 2000 zone on closing basis. 



December 17, 2015

  • ES One hour charts shown with immediate support levels.


December 16, 2015

  • Tesla if closes at high's today may extend the move towards the resistance lines shown in chart 1. For bigger up moves price must sustain above 200 SMA which is shown as resistance in chart2.

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