October 27, 2015

APPLE chart analysis

  • Apple week shows price continues to move inside the right shoulder of a bearish head and shoulders pattern.
  • 4 Hour chart shows price getting resisted at 200 SMA. Bulls need to keep price above 117 and 119 levels to avoid bigger corrections from happening.

Bank nifty chart analysis

  • Bank nifty daily has given a bearish engulfing pattern at the golden ratio. Bears need further confirmation with another bearish candle with good volumes to confirm the engulfing pattern.