June 17, 2018

APPLE Weekend update

  • Apple daily chart shows previous support lines acting as support. Bigger weakness for the stock if price closes below these lines.
  • Month candle is showing weakness so far. Staying below 190 levels should lead to a bearish candle. Price getting back above 190 plus levels will be negative for Bears.
  • MACD Shows recent failed cross in month time frame. A bearish candle here in Month time frame may lead to bearishness in the Indicator as well.

May 28, 2018

Sterlite Protest Gives a Monthly sell for Vedanta

  • Vedanta Month chart with sell signals highlighted from year 2010.
  • Past 2 sell signals along with MACD worked well.
  • Current sell signals is accompanied by agitation against one of its plant in Tamilnadu.
  • The buy signals in 2009 and 2016 have also worked very well with this set up. So its better to wait for such a signal to emerge to enter this stock. Till then its a sell.

May 23, 2018

NIFTY Chart analysis || 50 Day SMA and Bearish engulfing

  • Nifty daily is trying to seek support at 50 Day SMA.
  • Weekly time frame shows bears threatening with a Bearish engulfing pattern at the top. But this Bearish pattern needs help from 50 Day SMA. If 50 Day SMA does not hold in daily time frame then the Bearish engulfing in Weekly time frame will be effective.