September 29, 2016

  • Nifty is testing the support line of the broadening pattern. Last time price failed to close below this line and a big up move followed towards 8900 levels. 
  • Month chart looks like its going to give its 1st bearish candle after 6 Bullish ones in a row. Provided there is no made reversal in the remaining day of the Month.
  • Weekly chart is falling from the bearish PIN BAR. Next crucial level for bears to break is the zone between 8515 and 5545. This is a possible support zone in weekly chart. If this is not held then nifty could fall below 8300 levels.
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September 28, 2016

 
  • 4 Hour chart shows immediate support and resistance line.
  • Daily chart shows the rising hidden support line. This blue line and the pink horizontal line around 2117 are crucial supports for ES Bulls. 
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September 27, 2016

  • Crude oil testing crucial support line in 4 hour time frame.
  • Bigger weakness if 44 levels are not held.
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September 26, 2016

  • Price approaching crucial support levels for ES. If held an up move from the current levels are possible.If not held price may move towards 2130 levels and lower. 
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September 23, 2016

  • Twitter Moves above 50 Week SMA.
  • Week candle if close near the High's will extend the bullish momentum towards the falling resistance line.
  • But the stocks major trend will remain bearish till price stay below the falling resistance line.
  • In the short term if week stays above 50 Week SMA then stock may target 28 levels.
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  • ES bulls managed to move above crucial resistance levels. Weakness only if price falls back below the levels mentioned. Staying above them Bulls may target 2180 levels again.
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  • 46 - 47 Levels area is acting as resistance for crude bulls. 
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September 22, 2016

  • Week is moving towards the resistance line as shown in first chart. Price is moving up from the Middle Bollinger band. If the resistance line shown in first chart is broken a bigger up move is possible in Gold.
  • One can track the strength of this up move with 20 SMA in 4 hour time frame. If price stays above this a bigger up move is possible
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  • ES Bulls testing crucial support and resistance at 2156.
  • Up move could not stay above Golden ratio. But bulls has not fallen much from the resistance zone which may give them another chance to move above this level. Bigger risk bulls only if price falls below 2146 level.
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September 21, 2016

  • ES 4 hour chart shows the immediate range between 2126 and 2146.
  • Crucial resistance number for bulls to cross is 2156
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September 20, 2016

  • ES back to the resistance levels discussed yesterday.
  • Bulls will remain weak below Golden ratio or 2156 levels.

September 19, 2016

  • Gold near resistance line and 100 Hour SMA. last chart shows price contraction which may lead to bigger move soon.
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  • Immediate resistance level at 200 Hour SMA. Bulls may get some strength if stays above this line. 2156 and golden ratio will be tough to cross if gets tested.
  • GOLD WEEKEND UPDATE
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September 17, 2016

  • The Primary direction of weekly chart is up and within this up move price moved sideways towards the up trend line. Gold likely to decide if the trend is to continue or to break the rising support line within a week or two.
  • 4 Hour chart shows price moving sideways in a channel of 70 points. This channel is likely to resolve soon. Mostly these patterns go in favour of the prevailing trend which is bullish for Gold.
  • TRIANGLE OF S&P 500
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  • Crude oil one hour chart shows a potential reversal pattern provided price stays above 43 levels and the support line of the pattern.
  • 4 Hour chart and daily chart shows price resting near 43 level which is an important support level.
  • Daily close below 43 may take price towards 200 Day SMA.
  • TRIANGLE OF S&P 500
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September 16, 2016

 
  • First chart the 4 hour time frame shows price contraction in a triangle pattern.
  • Daily chart shows Bulls trying to hold above 100 Day SMA. ES Bears need price to close below this line to extend the fall from 2190 levels.
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September 15, 2016

  • Daily chart shows price trying to stay above 100 Day SMA.
  • The round number of 2100 is crucial for bulls to defend. For the next big down move this level must go.
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  • Crude oil one hour chart shows price moving down in a bearish channel. Price is heading towards the recent swing low of 43.01. This level has to be held to avoid a bigger fall in crude oil.
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  • ES one hour charts with Immediate resistance levels.
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September 14, 2016

  • Last chart shows price in a broad range between 1300 -  1377 level. Within this range price is moving in a bearish channel. Immediate resistance at 50 Hour SMA. Sustaining above this line may result in a bounce.
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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