April 28, 2016

;
  • Weekly chart shows a strong trend in place. Price moved above the weekly cloud when it was at 25. After that Price tested the weekly cloud just once. Major trend of the stock will not be tested till price stays above the cloud.
  • Daily chart shows good correction in favour of bears but Bulls continues to manage new high's. One such new high and much more is likely to be seen today.
-->
  • Nifty and SP 500 Futures with similar charts. Both are testing crucial resistance level in daily time frame.  A big sell signal or a bigger breakout is possible from here. 
-->


  • ES Daily continues to stay near the resistance zone at 2110
  • 4 Hour chart shows price above the immediate support zone of 2071.
  • So this range must resolve for bigger moves to follow.

April 27, 2016

  • Weekly chart shows support at 92 levels But it can go lower if price decides to test the Monthly up trend line. Month up trend line is around 89 levels approximately.
  • Daily chart shows the failures of bulls to cross the 200 SMA and all this while the death cross was in effect. 


April 26, 2016

  • Crude oil 4 hour chart show s price moving in a range between 42 and 44. Bigger moves only when this range gets resolved.
  • Weekly chart shows resistance at 50% fib level Once and if crude bulls passes this level the Golden ratio at 48 is likely to get tested.
  • Immediate support at 4 hour cloud. Rising cloud must be broken for a possible down swing to start. 


April 25, 2016

 
 
  • Possible reversal pattern in one hour chart. Bullish if price moves above 200 Hour SMA and the falling resistance line.
  • Weakness below 2071 as shown in 4 Hour time frame. Bullish pattern shown in one hour will be negated if price stays below 2071 levels.
-->

April 22, 2016


  • ES Daily testing resistance zone.
  • ES One hour is at 200 Hour SMA. More weakness if price starts to stay below 200 Hour SMA.

 

  • Nifty Month chart looking bullish after price breaking above the falling resistance line. But a breakout may not mean price moving up in a straight line. It may happen rarely But many times price comes back to test the breakout line before moving up again. In this case it may take many months of sideways action before starting to trend again.
  • Daily chart shows resistance at 7980 levels. If price maintains the HIgher highs and higher lows then a breakout is possible above this zone. Immediate weakness if price falls below 200 SMA on closing basis. Bullish structure is negated if price starts to trade below 7500 and 7400 levels.
-->

April 20, 2016


  • Silver week has moved above weekly cloud. Price fell below the weekly cloud back in 2011. Weekly chart shows possible resistance between 18.60 - 19 level. For confirming a bottom formation in weekly chart price must sustain above this level.
-->

  • SPX Daily shows bulls fighting through resistance levels. 
  • Weekly chart shown with the long lower tails of weekly candles when price fell below 1900 levels. These long shadows suggest strong support near that levels, But for bears there are no big upper shadows which suggests advantage bulls. Bulls hoping to see one long upper shadow here.
  • Daily candle is showing slight negative divergence with Price and MACD. For this one to work price need to stay below the resistance levels discussed above.
-->

April 19, 2016

  • Crude oil daily chart shows price above 200 SMA. Crude bulls should sustain above 42 levels for bigger up moves to follow. Weakness returns if price falls back below 39 levels and 200 SMA. Month chart shows possible target of 47 in the short term if price stays above 42 levels.
-->

 
  • Resistance line in daily chart which has held from May 2015 has been violated today. Bulls may gain strength if price sustains above this line.
  • Next Target for bulls is the Resistance zone Mentioned in the Month Chart. Bears now hoping for this zone to work so that a bigger correction can start again.
-->
  • Chart above is SPX Month Time frame.
  • Price is inching closer to the All time high's again. Month chart shows candles giving several upper shadows between 2107 and 2134. Bulls were resisted here. Several attempts to move above this zone failed and a correction towards 1800 levels followed.
  • It could turn more bullish if the month candle spends more time in this zone without leaving another upper shadow. Bears hoping for the opposite to happen.
-->

April 18, 2016

 
 
  • First chart shows immediate support levels in one hour time frame. 
  • Daily chart is shown with the crucial resistance line. Bears of ES hoping for price to stay below this line followed by a breakdown.
  • Bigger weakness in one hour time frame if price starts to trade below 200 Hour SMA.

April 11, 2016


  • Crude oil testing 200 SMA possible resistance line
  • 4 Hour and Weekly chart shows resistance zone between 41 - 42. 

April 6, 2016

 
 
  • ES Daily chart shows a possible resistance line. Some more bullishness needed for price to hit this line.
  • Crucial support levels shown in 4 hour chart. Bears need to stay below these levels for the correction to start.

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