June 30, 2015

ES Chart analysis

  • ES Hour is trending below the cloud. 
  • Recent swing low in daily chart is shown as possible support zone
  • Weekly chart is near 50 Week SMA Which may act as support.

S&P 500 Futures chart analysis

  • ES Falls below 200 SMA, Recently this event has led to sharp reversals in favour of Bulls. Now bears need price to sustain below 200 Day SMA. One or Two daily candles below this level will favour bears to extend gains. 
  • Negative divergence has been there for quite some time now without any big corrections. 
  • Price is testing the lower bollinger band. A Weekly close below this line may extend the fall.
  • Bulls just need to make a close back above 200 SMA to avoid bigger falls.

June 29, 2015

EURUSD Chart analysis

  • EURUSD Month chart shows price unable to close above the broken golden ratio.
  • Daily cloud is acting as support.
  • 4 Hour cloud is acting as resistance.

Nifty chart analysis

  • Nifty testing strong resistance zone. Bulls need a cloud breakout on daily closing basis to extend this up move.Price for now is in a range between 8300 - 8400 levels. This range must resolve for bigger directional moves to happen.

June 28, 2015

Apple weekend update

  • Apple daily and weekly chart shows two support lines for bulls. For now bulls are lacking momentum. Bigger worry for apple bulls only below the weekly up trend line and the 123.1 level shown in monthly chart. Month chart shows a 3 month range. This range must break and weekly and Monthly closing basis for bigger directional moves to happen.

June 26, 2015

CRUDE Oil Month tries for a bottom formation

  • Crude oil month trying to form a bottom. Week is in a range. Bulls need price to do an upper breakout from the range to confirm the bottom formation. Week continues to stay above the weekly cloud which is acting as crucial support level. range breakdown and close below the cloud may help bears to come back.

Bank nifty support and resistance levels

  • Bank nifty moving up from the weekly cloud. Bulls need to close the day above 100 SMA and the resistance line to extend this up move.18700 and 18900 levels are possible resistance zones.

June 25, 2015

BIDU Chart analysis

  • Bidu testing the falling resistance line. Price is also closing in on 200 Day SMA.
  • Stock will stay bearish below 200 Levels. Hope for bulls only if price sustains above 200 Day SMA.

Nifty Trading levels

  • Nifty shows first signs of weakness at 200 Day SMA. Bears need a close below 8334 which is the 2 day low to extend weakness. Bulls will continue the up move above 8421 towards the 8500 resistance zone shown in last chart.

June 24, 2015

Apple chart update

  • Daily chart shows price moving above the resistance line. Bulls need a close above this line. But the last One hour time frame shows weakness at top. Price need to sustain above 200 Hour SMA For bigger up moves to happen. For now bulls seems to loose momentum. Sustaining above the hourly cloud will keep the bulls interested.

June 23, 2015

CRUDE Oil Chart analysis

  • Crude oil daily chart shows a possible ascending triangle pattern. Price is moving in a range. If the rising trend line is held an upper breakout is possible. If the trend line is broken price will remain inside the range. Weakness only if the cloud and 23.6% fib level gets broken. 

Apple chart analysis

  • Apple near the apex of a contraction pattern. Price likely to make a big move soon.
  • 100 Day SMA is the crucial support. Apple bears need price to sustain below this line and the pattern support line shown above.

Using RSI indicator with Nifty

  • Trying to explain how New and experienced traders look at an indicator. 
  • First chart shows RSI reaching oversold zone Here new traders anticipate a reversal without seeing or confirming one Then Price makes a new low. New traders stop loss hits here and smart money makes a buy. If you see the second chart the oversold RSI trade did give profits but not before shaking out new traders.
  • Having Said that in a down trend if you Jump in on a new low thinking smart Money is going to come in your pain will increase as in a trending market the oversold or overbought condition sustain for a longer time. That's why you need to confirm reversals always with price action.

June 21, 2015

Nifty Weekend update

  • The daily cloud, 50 Day SMA and the falling resistance line are possible resistance zone for the current up move. Bearish case will stay alive till the bearish engulfing in Monthly chart stays valid. 
  • Bulls are hanging on to 7961. Weekly close below this level will further weaken the bulls.

June 19, 2015

EURUSD Resistance levels

  • EURUSD Testing crucial resistance zone in daily time frame. Price also near 200 Day SMA. Pair should either do a big breakout here or a Double top like correction. 

Reliance Price and Volume spike

  • Reliance moves above the 940 resistance zone with good volume increase. As can be seen from the weekly line chart price is moving into a bullish zone out of a weekly range. Last time it did this the stock moved past 1100 levels easily before falling again. This time too if resistance levels like 1000 and 1030 are crossed chances for a bigger up move exist. 
  • Ascending triangle of REIANCE INDUSTRIES

June 18, 2015

SILVER Triangle update

  • Silver spike got resisted at 200 Day SMA. Price continues to stay above the triangle support line. Hope for silver bulls till price stays above the triangle support line.
  • ES Descending broadening pattern breakout

Descending Broadening pattern of ES

  • 4 Hour chart shows a Descending broadening formation breakout. According to Bullowski's pattern site target for a bullish breakout is the Highest point within the pattern. ES likely to test the recent high's again.