April 8, 2011

MSFT Near 50 day moving average

  • Bulls of MSFT are facing 50 day moving average as resistance.
  • Broken Trend line of Weekly chart may also act as resistance as shown in second chart.
  • Upward momentum can continue only if price can sustain above 50 day moving average.
  • Resistance level of Dow Jones:DOW CHART

QQQ Hour chart in a channel

  • QQQ Hour chart is moving in a channel.
  • Breakout or breakdown from the channel can give bigger moves.
  •  previous hour candle Having got resisted at the top of the range price is moving towards the bottom of the range.

S&P 500 Futures before opening bell

  • ES One hour chart is approaching resistance area.
  • 1336.25 should be taken out by bulls on closing basis for bullishness to sustain. Price is likely to get resisted here.
  • Yesterday's Dip was bought exactly at the 200 hour moving average and Bulls steadily started moving up and has reached the top of the range now.
  • Since price is near support or resistance line we will get a good move soon.
  • Dow is near an important resistance level: CLICK HERE TO SEE THE CHART

Nifty Futures 5 Minutes chart

  • 5 Minutes may turn bullish only above 61.8% Fib level.
  • Till that level is crossed NF will face selling pressure.
  • Flag in 5 minutes also favor bears till now. Only an upper breakout from this flag pattern can save the intraday bull

Nifty Futures Intraday update

  • Nifty futures is showing a Descending channel.
  • Price action is favoring bears in shorter time frame charts.
  • For bulls to pickup momentum NF should close above 5920 - 5930 level again.

Nifty Daily Analysis

  • Weekly charts are keeping options open for both bulls and bears.
  • Things may get resolved with today's closing. at least i am hoping it gets resolved because sideways market does not give much profit.
  • MACD in weekly chart will give hope for the bulls. 
  • A bearish looking candle is developing on the resistance line which is keeping the bears interested.
  • Nifty has maintained its position above 5 day EMA till now. Closing below this moving average and 5830 level will favor bears.
  • Breaking above the recent high will favor bulls and then the weekly MACD will show its effect.
  • A possible resistance level for DOW JONES

DOW JONES Near Important Resistance level

  • Dow Jones is trading  near an important resistance level.
  • Bigger up moves for Dow might happen only on clearing 78.6% level.
  • But for now if price hits 78.6% level we may see good correction in Dow Jones.