BIDU Chart analysis

• Bidu testing the falling resistance line. Price is also closing in on 200 Day SMA.
• Stock will stay bearish below 200 Levels. Hope for bulls only if price sustains above 200 Day SMA.

Nifty Trading levels

• Nifty shows first signs of weakness at 200 Day SMA. Bears need a close below 8334 which is the 2 day low to extend weakness. Bulls will continue the up move above 8421 towards the 8500 resistance zone shown in last chart.

Apple chart update

• Daily chart shows price moving above the resistance line. Bulls need a close above this line. But the last One hour time frame shows weakness at top. Price need to sustain above 200 Hour SMA For bigger up moves to happen. For now bulls seems to loose momentum. Sustaining above the hourly cloud will keep the bulls interested.

CRUDE Oil Chart analysis

 

• Crude oil daily chart shows a possible ascending triangle pattern. Price is moving in a range. If the rising trend line is held an upper breakout is possible. If the trend line is broken price will remain inside the range. Weakness only if the cloud and 23.6% fib level gets broken. 

Apple chart analysis

• Apple near the apex of a contraction pattern. Price likely to make a big move soon.
• 100 Day SMA is the crucial support. Apple bears need price to sustain below this line and the pattern support line shown above.

Using RSI indicator with Nifty

• Trying to explain how New and experienced traders look at an indicator. 
• First chart shows RSI reaching oversold zone Here new traders anticipate a reversal without seeing or confirming one Then Price makes a new low. New traders stop loss hits here and smart money makes a buy. If you see the second chart the oversold RSI trade did give profits but not before shaking out new traders.
• Having Said that in a down trend if you Jump in on a new low thinking smart Money is going to come in your pain will increase as in a trending market the oversold or overbought condition sustain for a longer time. That's why you need to confirm reversals always with price action.

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Nifty Weekend update

 

• The daily cloud, 50 Day SMA and the falling resistance line are possible resistance zone for the current up move. Bearish case will stay alive till the bearish engulfing in Monthly chart stays valid. 
• Bulls are hanging on to 7961. Weekly close below this level will further weaken the bulls.