June 1, 2015

Apple Triangle pattern

  • Apple one hour chart shows price consolidation in a triangle pattern
  • Breakdown from the pattern and break below the trend line shown in chart 2 may result in correction towards 126 levels. Upper breakout may give 133-34 levels

Nifty resistance levels

  • Not trying to be overly bearish here by showing only resistance levels. Bulls too are putting up a nice basing formation. Bulls are also looking at the price volume increase which may help them to continue this up move further. But as price moves back into the broken cloud it may face stiff resistance there. Golden ratio around 8520 levels is also crucial resistance zone.