June 11, 2012

APPLE Daily chart analysis

  • Apple daily trying to stay above 50 day SMA.
  • Daily closing above 50% Fib level and 50 Day SMA will help bulls to target the golden ratio.
  • Falling below 50 day sma on closing basis will favor bears.

NIFTY Chart analysis

  • Nifty near 50 and 200 Day SMA. 
  • Weekly chart shows bullish engulfing pattern and need to trade above 50 Week SMA for the engulfing pattern to be effective.
  • Price trading above the falling channel resistance line and 5 Week High EMA will favor bulls.\
  • Immediate target on trading above these levels could be the Weekly mid bollinger band.