April 26, 2017


  • Tata motors daily shows oversold indicator levels. Price is moving into a crucial support zone. If the level is held a reversal is possible. That is a Big IF and one has to trade with caution.
  • Week and Month shows the support levels. Bigger weakness for the stock on closing below 420 levels in Higher time frames.
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April 24, 2017

  • Crude oil one hour chart continues to favour crude bears below the cloud. But price is approaching 200 SMA in daily time frame. This could be a make or break level for intraday traders. Break below this line could give 47 levels. If 200 SMA is held then a big reversal is possible.
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April 23, 2017

  • Daily chart shows price trying to move back above 20 Day SMA and closing back below this line. Now More weakness in daily chart if 9075 levels is broken.
  • Bigger falls or a Top in weekly chart can form only below 8990 levels. There is small GAP in weekly chart around this zone. Weekly close below this level may lead to a trending move in this time frame.
  • Having said that If bulls manage to close back above 20 SMA then bears will be at a disadvantage again.
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April 22, 2017

  • CRUDE Oil Weekly chart shows price falling to the up trend line.
  • Daily chart is testing 200 Day SMA. Last 3 closes below this line gave good reversals. But risk of a bigger fall exists on closing below this line.
  • One hour chart shows a trending move. Hour staying below the cloud will favour bears to extend the down move.
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April 20, 2017

  • Bears managed to close below 50 Day SMA. If price sustains here then next target could be the 200 SMA around 49 levels. 
  • Hour chart need to stay below the cloud to keep the momentum in favour of bears.
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April 19, 2017

  • Crude oil daily chart shows price near crucial moving average of 50 Day SMA. Right now the line is at 51.45 levels. For bigger correction price should close the day below this line.
  • Hour is staying below the cloud. A trending move is possible if price sustains below the hourly cloud. Hope of a reversal for Crude bulls if price moves back above Hourly cloud.
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April 18, 2017

  • Netflix daily shows an Ascending channel. If bullishness sustain price likely to hit 149 plus levels to reach channel Top.
  • 20 SMA is positioned bullishly above 50 Day SMA. For bears need to close daily time frame below 142 levels.
  • Staying above the cloud will keep the bullish trend intact.
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April 17, 2017

  • ES Daily shows possible support level at 2317. Rising 100 SMA too may reach this level soon. Immediate resistance is the broken 50 Day SMA. Bears need to keep price below 50 Day SMA. Bigger weakness only on price closing below 100 Day SMA.
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  • Nifty daily is testing 20 Day SMA after a long GAP. It was at 8100 last when price met 20 Day SMA Which shows how smooth and strong this up move was.
  • Weekly MACD is poised for a sell But this is based on price action. So bears need price to stay below 8950 - 9000 levels for bigger correction to follow. Bulls remain safe above this zone.
  • Daily time frame has been diverging for a long time now. Bears hoping for bigger things to follow in the coming Days.
  • INFOSYS Technical Analysis
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April 16, 2017


  • Infosys nearing crucial support zone around 900 levels. If not held on closing basis will take the stock towards the Rising support line shown in Month time frame.
  • If 900 is held then stock will remain range bound in weekly chart and a move towards 1044 levels is possible.
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April 13, 2017

  • ES Closed below 50 Day sma. Now bears need to break below 2330 levels for bigger falls to follow.
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April 12, 2017

  • Daily chart shows a triangle contraction. 
  • Possible trend change on closing below the cloud. As its a triangle false spikes are possible before the bigger directional move can happen.
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April 11, 2017

  • ES Daily shows price testing support zone. Daily has made another dip below 50 Day SMA. Bears unable to get that close below this crucial moving average. One has to see if bulls is able to make another up move to close back above 50 Day SMA.
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April 10, 2017

  • Apple daily shows price trend above 20 Day SMA. 
  • Weekly chart shows possible bearish candle. This one needs confirmation.
  • Weakness in daily on closing below 142.8 and 20 Day SMA.
  • Bulls will remain strong above 20 Day SMA


April 8, 2017

  • Convergence of 20 and 50 Day SMA shows that a breakout or breakdown is imminent. Levels to Watch on closing basis are 2365 and 2335.
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April 7, 2017

  • Nifty week shows a negative candle. This needs confirmation though in the following weeks.
  • Weekly chart also shows Negative divergence.
  • But bears May not expect big returns unless price fall below 8900 levels. Month chart shows Bulls making New high's. So bears need price to fall back below 8900 levels on closing basis which will confirm the current move as just a spike above new high's.
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April 6, 2017

  • ES Daily shows a resistance line and 20 Day SMA which is acting as stiff resistance on closing basis.
  • Daily is violating 50 Day SMA again. Bears need a close below this line to gather further momentum.
  • CRUDE OIL WEEKLY SUPPORT LINE
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April 5, 2017

  • NIFTY Weekly chart shown with possible resistance line. For this week and the next this line is around 9350 - 9400 levels.
  • The divergence chart shows Triple negative divergence for the previous top. There is divergence now also, Not as prominent as the previous one. The fact that price is making all time highs is also against bears. Hope for bears only if price falls back below 8900 - 9000 zone, Probability of happening this in the short term is low.
  • If divergence is negated nifty is likely to target 9300 - 350 and 400 levels in the short term.
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  • Weekly up trend line helped bulls with a Bounce.
  • Daily chart shows resistance zone near 51.50 levels. Close above this zone may take price towards 54 - 55 levels in the coming weeks.  Weakness may resume if unable to stay above 51.50 levels.
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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