- Apple hour is moving up in an ascending channel formation
- But Stochastic indicator is hinting of a possible correction towards the support line of the channel.
- If price takes out the recent high another up move towards the resistance line can be seen
- CUP AND HANDLE PATTERN OF GOOG
- ES Hour chart with a rising resistance line that is acting as resistance at overbought levels. Break above 1330.25 will take ES to the resistance line once again.
- Support levels are at 1322.25 and 1308.50.
- GOOGLE CUP AND HANDLE PATTERN
CHART-II
- NF Closed above the resistance line mentioned below. NF may target 5510 levels from here.
CHART-I
- Nifty Futures swings in favor of bulls.
- But has it the resistance line. NF will face its first line of resistance at 5540 level.
- Closing above this level will keep the bullishness intact.
- NIFTY WEEKEND UPDATE
- Price of DLF is at a crucial place. It is near the down trend line which acting as big resistance for the stock.
- Breaking above this line can give a good bounce for this stock.
- But as shown in the next chart any bounce above 20 DMA is not sustaining.
- So once should watch the Fib level carefully. If price sustains above 38.2% (246.4) we may see an initial rally towards 256 (50%) Fib level and then towards the 50 Day moving average.
- Price action of DLF suggests that many people are long from 214 levels. They should keep trailing stop loss in order to lock in profits.
- NIFTY WEEKEND UPDATE
- There is a Cup and Handle pattern forming in Google's weekly chart.
- Price is getting support from 20 week moving average. Sustaining above this moving average will result in a breakout.
- Breaking above 630 and sustaining above this level may give the cup an handle effect to google.
- Considering the size of the pattern a successful breakout can give good upward momentum for the stock.
- CISCO WEEKEND UPDATE
