Stock Market Chart Analysis

March 7, 2013

Bank Nifty Daily chart shows bearish cross with 20 and 100 Day SMA. These two moving averages may act as resistance levels.
Week is bouncing from near the Up trend line. One should be careful with longs as weekly chart has a MACD Sell signal.

Daily chart has given a Bearish Dark cloud cover pattern.
Negative divergence in daily chart with RSI is also looking good for bears. Crucial point to note is that there is no trigger yet for bears.
Hourly chart shows a big bearish engulfing pattern and followed by a small range. For bears trigger could be price falling below the GAP which may give a bigger fall.
APPLE RESISTANCE LEVELS

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ONE HOUR CHARTS

DAILY CHART

Hourly charts shows immediate resistance levels at 100 Hour SMA and 23.6% Fib levels.
Daily chart shows resistance at 50 Day SMA.
APPLE RESISTANCE LEVELS

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ES 4 Hour chart shows a possible resistance line.
30 Minutes char shows negative divergence. But price yet to show weakness.
If price gets resisted at the resistance line of four hour chart then negative divergence may play out well.

Bank of America getting resisted at 50% Fib level and 20 Day SMA.
Price has also failed to close above 50 Day SMA.
BAC continue to trade in a range. Price getting resisted at the middle of the range.
S&P 500 ANALYSIS AFTER CLOSING BELL

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DAILY CHART

WEEKLY CHARTS

Daily chart of silver shows price above a possible support line. Silver bulls need a daily close above 20 Day SMA for a bigger pullback to happen.
Weekly charts are not looking good for bulls Price has violated the long term trend line as shown in second chart. Price trading or closing below 27.89 could lead to 26.02 levels.
S&P 500 ANALYSIS AFTER CLOSING BELL

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Nifty bounce has resistance near 20 and 100 Day SMA. 20 Week SMA is also near this level. So bulls need a weekly close above 20 Week SMA for a bigger up move to happen.
TATA MOTORS CHART UPDATE

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