January 9, 2015


  • ES 4 Hour cloud continue to act as stiff resistance
  • One hour cloud is acting as support for now
  • Last chart shows price trying to stay above 38.2% Fib level.



 
  • ES 4 Hour time frame shows weakness near Ichimoku cloud. This level and 80% Fib level needs to be cleared for bigger up moves to happen.
  • Price staying Below golden ratio or the Hourly cloud may lead to bigger weakness.




  • TCS Weekly chart shows price near previous resistance zone which may continue to act as support
  • Daily chart is testing 200 SMA. Staying above 200 SMA will favor bulls.
  • Bears need price to sustain below 200 SMA for bigger correction to happen.


  • Nifty tying to hold above 100 Day SMA.
  • Another dip below the ichimoku cloud did not result in follow up selling. Bears need to keep price below the cloud for bigger falls to happen.
  • Last chart shows a possible triangle contraction pattern. closing outside this pattern may result in bigger moves.
  • NIFTY 50 STOCKS FREE LIVE CHARTS
-->

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.

Followers

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