May 28, 2016


  • Apple daily trying to fade the result GAP. Price now is moving to crucial resistance levels. 50 Day SMA and Golden ratio may act as resistance if the up move continues. Even if these resistance levels are crossed the 200 Day SMA will be tough to cross for apple bulls. For a change in trend price need to sustain above 200 SMA, Last 2 attempts to stay above 200 SMA has failed.
  • ES ASCENDING TRIANGLE BREAKOUT
-->


  • Nifty Month continues to look good for bulls. 
  • Daily is doing a golden cross. Performance of this one depends on how much time price is going to trend above 50 SMA. Weakness comes back if price closes below 50 SMA again.
  • Next crucial resistance level is near 8300 levels as shown in last chart.
  • S&P 500 ASCENDING TRIANGLE
-->

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