My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
June 2, 2014
NIFTY Chart analysis
- Friday's up move from the lows was good for bulls as price managed to get back above 38.2% Fib level. In spite of that up move nifty Weekly chart shows a bearish engulfing pattern.
- Immediate weakness if price falls back below 38.2% Fib level again.
- Bigger fall only if last week low and 20 Day SMA is taken out on closing basis.
EBAY Chart analysis
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVjzxWaiD7jxCp-0vOBqNLMvW0Q4WtI42IYlSUSk3SHzCPMnEKcHTWVqUvs5cLdiF-gVUXqxZCeCEvNhkE8o8cAWCxktdMariqd8oAIyUd9dDLfEAbLp9zU1nez6skudbkHscCuLd7QizD/s1600/EBAY+Support+zone.png)
- EBAY is getting rejected at the broken 100 Week SMA. Bulls of EBAY Must do a weekly close above this level for an up move to happen.
- 2nd and 3rd chart shows price getting support near the support zone of the weekly range. For bears these levels must break on closing basis for a bigger fall to happen.
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