- Google Weekly chart shows price moving within a channel. Price for now is moving towards the resistance line.
- Daily chart shows immediate resistance at 560. Daily close above 560 should take price towards the upper resistance line.
- Weekly MACD is looking positive. This setup will gain strength if price is able to sustain above 596 levels
- APPLE SELL SIGNAL
February 28, 2015
- Facebook weekly chart shows weakness near range top
- Daily candle shows a Bearish engulfing pattern. It is not a complete engulfing. Real body of the previous day's candle is engulfed which is enough to be considered as an engulfing pattern. This is significant because of the weakness near Weekly range top.
- To confirm bearishness though price has to close below 78 levels. Its a sell only below 78 for a possible visit to the Range Bottom near 73 levels.
- APPLE SELL SIGNAL
February 27, 2015
- No Sell signal Yet in MACD Indicator But it looks like we may get one soon. Weakness can only be confirmed if price breaks below 126 level. On seeing yesterday's price action it looks like price will remain in this range with positive bias for today.
- Weekly candle looks interesting for bears. If it closes like this or closer to the current price then there is a possible Doji reversal candle in the making.
- Bank nifty at crucial levels. It may move up after testing these levels or bigger weakness can be seen if the levels are not held.
- Bears need a weekly close below 20 Week SMA for bigger falls to happen.
- Bulls may try to defend the rising support line.
- PIN BAR OF BANK NIFTY
February 26, 2015
- Nifty Daily chart shows immediate support and resistance levels. Weakness if price stays below 8726 levels.
- 2nd chart shows Diverging price and RSI Channels. This is a negative setup which needs confirmation. Price needs to break below this pattern for this one to work well for bears.
- Another support is the the Rising 100 Day SMA. Attempts by bears to stay below this line has failed so far. Bigger weakness if price stays below this line.