July 18, 2013

GOOGLE Chart analysis

  • Google hour chart testing crucial support levels.
  • Close below 910 and 23.6% Fib level may extend the fall towards the rising trend line shown in daily time frame.
  • Daily chart looks overbought But for a bigger fall needs price to break below the rising trend line. Up move will resume if price sustains above the trend line.

APPLE Support and Resistance levels

  • Apple four hour testing falling resistance line.
  • Daily chart is at 50 Day SMA. Unable to close above 50 Day SMA may lead to correction.
  • Weakness on price trading below 50 Hour SMA.  

Bank of America testing Golden ratio

  • Bank of America Daily chart shows a rising resistance line which may give a pullback for the stock.
  • Weakness in daily chart only on price falling below 13.99 levels.
  • Weekly chart shows price testing Golden ratio. BAC Bulls need a weekly close above Golden ratio for moving towards 15.28 levels.

CATERPILLAR Bearish Engulfing

  • Caterpillar daily chart shows a bearish engulfing pattern.
  • Bearish price action is happening with overbought indicator levels
  • But for bears 100 Day SMA at 86 and 50 day SMA at 85.44 are crucial support levels to break. Daily candle trading below these levels will extend the fall.

NIFTY Intraday update

  • Nifty one hour chart shows price in a range.
  • Higher time frame like 4 Hour continues be in up trend. 4 Hour chart shown with 20 and 50 Period SMA shows price yet to close below 20 period SMA.

AXIS Bank Chart analysis

  • Weekly charts shows price testing crucial support levels.
  • 100 Week SMA at 1174 should be held for bulls to avoid a bigger breakdown.
  • For the day weakness below 1193 and 1177, Strength above 1236 levels.

IBM Chart analysis

  • IBM weekly chart is in a range and price near the bottom of the range.
  • So tomorrow a daily close above 195 to 198 levels should favor bulls of IBM. On the other hand trading below 191 levels may lead stock towards 188 and lower levels.
  • Today price has managed to close above 20 Day SMA. So if price sustains above 194 it may do a triangle breakout in favor of bulls.

COCA COLA Resistance levels

  • Coca cola daily chart shows price nearing resistance levels.
  • Coca Cola Bulls need a daily cloud breakout to extend this pullback.
  • Strength on closing above 50 Day SMA. Unable to cross this level means weakness for Coca cola.