July 18, 2016

  • First chart shows price below 50 Day SMA.
  • Chart 2 and 3 shows price testing crucial support zone. Close below 100 SMA may lead to bigger correction. For Crude Bulls price must move back above 50 SMA For resuming the bigger up moves.
  • One hour chart moving sideways in a range between 2140 and 2170. This range must resolve for bigger moves to happen.

  • Tata Steel is moving up from its long term support of 190 levels. Price in weekly chart is out of another bullish pattern. Daily chart has a golden cross in place. There can be corrections in between But an up trend is clearly in place. Next big hurdle for this up trend will be the falling resistance line from 737 as shown in chart 2. For a bigger up move price must move above this line.


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.


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