- First chart shown with a falling wedge pattern. Usually falling wedge breakout happens in favor of bulls. This one has given a breakdown. If the range in daily chart gives an upper breakout this can be classified as false breakdown which may result in a bigger up move.
- For bulls price need to close above 20 SMA Which is above 479 for a possible target of 50 Day SMA.
- For Bears Unable to close the days into the GAP should lead price towards 435 and followed by a range breakdown.
- FACEBOOK CHART UPDATE
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
February 7, 2013
APPLE Trend update
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NIFTY 07-Feb-2013
ReplyDeleteCurrent Market Situation :
NIFTY current close : 5939
NIFTY resistance level : 6158
NIFTY support level : 5912
NIFTY sentiment : positive
NIFTY dominant cycle period : 17 days
Levels Tomorrow :
NIFTY intraday resistance 1 : 5964
NIFTY intraday resistance 2 : 5992
NIFTY intraday resistance 3 : 6034
NIFTY intraday support 1 : 5914
NIFTY intraday support 2 : 5885
NIFTY intraday support 3 : 5844
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