January 24, 2016

APPLE Support and resistance levels

  • Apple bounces from 95 level which acted as support as shown in chart. Broken head and shoulders neck line at 105 may act as stiff resistance for the current bounce. A bigger bounce if price closes beyond the neck line. 

Nifty positive divergence and Resistance level

  • Weekly candle suggests possible reversal formation provided price stays above 7241 levels. At the same time price has broken below crucial support level of 7550 which has to be crossed for a bigger bounce to materialise. 
  • Daily chart shows bounce after positive divergence as shown in first chart.