July 22, 2016

 
 
  • Nifty daily shows a bearish engulfing pattern But price continues to remain in a range. Only if price trades below the range the bearish engulfing pattern will be effective.
  • MACD and price is starting to diverge negatively. This also need price confirmation by breaking below the range.
  • Month chart continues to remain strong But price is trading near strong resistance zone near 8654
  • GOLD SUPPORT AND RESISTANCE LEVELS
-->

  • 4 Hour triangle has resolved in favour of bears But for them price need to stay below 44.40 levels on closing basis.
  • Daily chart too shows price at 100 SMA. Crude bears need a daily close below this line to avoid a reversal from this moving average.
  • GOLD SUPPORT AND RESISTANCE LEVELS
-->

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