March 7, 2013

CISCO Support and Resistance levels

  • Weekly chart shows resistance level at 22.33
  • Above mentioned weekly resistance is also the Golden ratio in weekly chart which will make it tougher to cross.
  • Daily chart shows price moving up from 50 Day SMA. Recent up moves from 50 SMA has resulted in good moves so this move may target 22.33 level soon.

EURUSD Trend update

  • 4 Hour charts shows 50 period SMA and 23.6% Fib level as crucial resistance levels. Sustaining above 23.6% Fib level may lead to a bigger pull back. 
  • Second chart shows daily chart with 200 DAY SMA. Price yet to test this level. A bottom formation at these levels may lead to a trend reversal.

ES Chart analysis

  • ES 30 Minutes shows a range.
  • One hour chart shows price testing 50 Hour SMA. Price has to sustain above this level for a breakout to happen. 
  • Target for range breakdown is shown in the last chart were price may test previous resistance level or 23.6% Fib level shown in 4 Hour Time frame.

NIFTY Intraday update

  • Nifty violating crucial fib levels as shown in four hour time frame.
  • Price testing 100 Day SMA.
  • Bulls need day to close above 100 SMA for sustaining this up move. Remember last fall started from this level So closing above this level should signal strength for bulls.

BANK NIFTY Chart update

  • Bank Nifty Daily chart shows bearish cross with 20 and 100 Day SMA. These two moving averages may act as resistance levels.
  • Week is bouncing from near the Up trend line. One should be careful with longs as weekly chart has a MACD Sell signal. 

Dark cloud cover of GOOGLE

  • Daily chart has given a Bearish Dark cloud cover pattern.
  • Negative divergence in daily chart with RSI is also looking good for bears. Crucial point to note is that there is no trigger yet for bears. 
  • Hourly chart shows a big bearish engulfing pattern and followed by a small range. For bears trigger could be price falling below the GAP which may give a bigger fall.