July 30, 2016

  • Apple bulls managed to close another day above 200 Day SMA. Recent attempts like these has failed to sustain above this moving average.
  • Weekly chart also shows a falling resistance line which may stop bulls from a bigger up move from happening. 
  • For a bigger rise price need to sustain above the weekly falling resistance line.

  • Nifty Month chart shows price completing another bullish month. Question is will Nifty bulls form the 6 the Bullish candle.
  • Weekly chart continues to show divergence But price yet to show a lower low. Price continue to inch higher.
  • For next week last candle high 8674 is crucial. Staying above it is bullish. For bears need to do more. For a possible reversal or weakness to confirm price must trade below last weeks candle.


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