Stock Market Chart Analysis

April 1, 2013

Bank nifty back to 200 Day SMA. For bulls momentum will resume in their favor only if price is able to trade above 200 Day SMA.
Crucial levels in weekly chart for bulls to hold above on closing basis are 11125 - 11200 and the up trend line from 7766 level.
Sustaining above 50 Week SMA is also good for bulls of BN.
TATA STEEL TREND UPDATE

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Bullish engulfing and oversold status may lead to a bounce in Tata Steel. But price must break and close above the falling resistance line to confirm the bullish pattern.
One must be careful with longs as the stock is in strong down trend as can be seen from the second chart. Among the last 12 candles from 448 to 300 there was just one green candle and 11 bearish candles.

HP Closes above 100 Week SMA.
Price also closed back above Weekly Ichimoku clouds after many months.
Fib levels shows price closing above 61.8% and looking good for 78.6% Fib levels at 26 area.
BEARISH ENGULFING BANK OF AMERICA
APPLE WEEKEND UPDATE

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JPM Weekly chart has broken below 23.6% Fib level.
Immediate support levels are 46.85 and 20 Week SMA.
Daily chart with Ichimoku cloud shows the up trend getting tested. If the correction is limited to the cloud the up trend will be safe. For the trend to turn price must sustain below the cloud.
GOOGLE WEEKEND UPDATE

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Bank of america weekly chart shows a bearish engulfing pattern.
Daily chart is near crucial support levels like 20 and 50 Day SMA.
Bearish engulfing pattern will gain strength if price starts to trade below 50 Day SMA and the Golden ratio. So the level for bears to break is 11.73 on closing basis. For bulls they must protect 20 Day SMA for avoiding a bigger fall.
BLACKBERRY TRIANGLE PATTERN
APPLE WEEKEND UPDATE

Price managed to close above 200 Day SMA, This momentum may take price towards 38.2% Fib level or 100 Day SMA which may act as resistance in daily time frame.
Weekly chart shows a MACD Sell signal. Price sustaining below the channel will add strength for the sell signal.
APPLE WEEKEND UPDATE

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SLV WEEKLY CHART

SLV DAILY CHART

SLV WEEKLY CHART

SLV Weekly chart with fib level shows price trying to stay above 78.6% fib level.
Next is the daily chart shown with the recent range. Price is violating or threatening to break the range on the downside.
Last chart the weekly time frame shows the crucial levels and possible targets in case of a breakout or a breakdown.
APPLE WEEKEND UPDATE

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