- Nifty bulls managed to close the day above the Golden ratio.
- Now for bulls price has to close back above 100 Day SMA and 23.6% Fib level shown in second chart.
- Last chart shows price violating 20 Week SMA. A weekly close back above 20 Week SMA should add strength for bulls. Closing the week below Middle BB will be negative.
- IFCI TRIANGLE PATTERN
-->
- IFCI Weekly chart shown with the big triangle pattern. breakout from this pattern should result in a 15- 20 point move.
- Daily chart shows Golden cross But price for now is below 50 and 200 Day SMA.
- Last chart shown with crucial support and resistance levels.
- First chart shows price moving inside the range. Until price takes out the Highs on closing basis this one can be treated as a bearish range at the top.
- Last chart shows price inside a bullish channel. This one too need price to take out the swing high of 1530 to extend the trend.
- Unable to make newer highs on closing basis may lead to a breakdown.
- Gold showing resistance near 23.6% Fib level in daily chart.
- Weekly chart also shows resistance around the support resistance zone between 1620 - 1635.
- Above mentioned zone has to be closed above on weekly closing basis for gold bullish momentum to return. Sustaining below these levels may lead to retest of the lows.
- Blackberry near 50% Fib level.
- Daily chart is also near 100 Day SMA and Testing Daily Ichimoku cloud.
- Up trend line from 6.19 levels is also near 100 Day SMA Which is likely to be held for an up move to start.
- First chart shows hour chart with the recent fall from 78.6% Fib level
- Second chart shows resistance levels for the current up move with 200 Hour SMA near Golden ratio.
- Last chart shows same fib levels shown in second chart but with 4 Hour time along with Ichimoku cloud. Confluence of resistance at 4 Hour cloud the Golden ratio and 200 Hour SMA may try to stop bulls from making a bigger up move.
-->
- PCLN Bouncing from 50 Day SMA.
- Second chart shows a rounding bottom kind of price action which has immediate resistance at 721 levels.
- For a complete reversal towards 775 price has to trade above 721 and 78.6% Fib level.
