BANK Nifty Weekend update

• I have tried to make the spot chart as close to the futures chart. Haven't included the wild price action of Friday.
• Daily chart looks like a Dark cloud pattern with support at 11321. 10 Day EMA too is yet to be tested so weakness only on breaking these two levels.
• Weekly chart too looks bearish with the large upper shadow showing weakness at top. Weekly chart has support at 11226 levels. Breaking this level may turn weekly chart bearish again.

RIMM Weekend update

 

 

• RIMM is moving up after the bullish engulfing pattern of weekly chart with big volume.
• Price managed to close above 20 Week SMA or Middle Bollinger band.
• Price has broken above a down trend line. It has to sustain above 8.44 for a bigger up move to happen.
• S&P 500 ANALYSIS AFTER CLOSE

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Broadening Top of ORACLE

 

• Oracle has closed below 50 Day SMA again.
• Daily chart is showing a bearish engulfing pattern 
• Weekly MACD is getting ready for a sell signal.
• Daily chart is also showing a possible broadening top pattern which should favor bears.
• APPLE WEEKEND UPDATE

APPLE Weekend update

• Apple weekly chart shows crucial support at 644. Falling below this line may take price towards middle bollinger band.
• Daily chart shows price closing below 50 SMA. Breaking the support line shown in 2nd chart may extend correction.
• Last chart shows Correction after RSI and price Negative Divergence. RSI has fallen below 70% line a bigger correction only if the up trend line gets broken.
• S&P 500 ANALYSIS AFTER CLOSE

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S&P 500 Analysis after closing bell

 

• SPX One hour chart shows the possibility of a double top pattern. 
• Second chart shows possibility of an Ascending triangle if the correction is limited to the black line.
• Daily chart shows a range between 1422 - 1474. For next week trading above 1474 SPX is likely to hit 1500 levels and Falling below 1422 could test 1380 - 1390 zone. Daily time frame is likely to see sideways move till this range is resolved.
• APPLE CHART ANALYSIS

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INTEL at Weekly support line

• Intel Hits the long term support line from 12 - 19 - 22 levels.
• Price is below 20 Day SMA and the down trend line.
• Daily close above the trend line and 20 SMA should start an up move from weekly support line.
• APPLE CHART ANALYSIS

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APPLE Chart update

 

• 4 Hour chart shows price testing 100 Period SMA.
• 4 Hour chart also shows a contracting pattern which should give good direction once price moves out of it.
• Weekly chart shows price yet to test crucial support level of 643 and the weekly up trend line.