NIFTY Ascending Triangle and trading levels

• Nifty one hour shows a bullish ascending triangle pattern. Price for now resting at the support line. 

•  Hour has to close and sustain above 15900 zone for bigger up moves to follow towards 16000 levels.
• Weakness will resume below 15790 levels. Bigger weakness if price falls below 15670 area. 

 

Bank Nifty Descending Falling wedge

 

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• Bank nifty hour shows a Descending Falling Wedge. This pattern mostly resolves in favor of bulls. Bulls need to stay above 35500 and 700 on closing basis for bigger up moves to follow.
• 15 Minutes chart shows Immediate support zone below which bears will regain strength.

Gold Top down analysis.

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• Gold bulls continues to struggle below the Daily cloud.
• Month chart shows the continuous falling from the triangle contraction. Possible support near the base of the triangle which is around 1130 levels. If that is not held then price may be heading down towards the swing low of year 2016 which is around 1050 levels.  

APPLE Weekend update

• Apple daily chart shows previous support lines acting as support. Bigger weakness for the stock if price closes below these lines.
• Month candle is showing weakness so far. Staying below 190 levels should lead to a bearish candle. Price getting back above 190 plus levels will be negative for Bears.
• MACD Shows recent failed cross in month time frame. A bearish candle here in Month time frame may lead to bearishness in the Indicator as well.

Sterlite Protest Gives a Monthly sell for Vedanta

• Vedanta Month chart with sell signals highlighted from year 2010.
• Past 2 sell signals along with MACD worked well.
• Current sell signals is accompanied by agitation against one of its plant in Tamilnadu.
• The buy signals in 2009 and 2016 have also worked very well with this set up. So its better to wait for such a signal to emerge to enter this stock. Till then its a sell.

NIFTY Chart analysis || 50 Day SMA and Bearish engulfing

• Nifty daily is trying to seek support at 50 Day SMA.
• Weekly time frame shows bears threatening with a Bearish engulfing pattern at the top. But this Bearish pattern needs help from 50 Day SMA. If 50 Day SMA does not hold in daily time frame then the Bearish engulfing in Weekly time frame will be effective.

Punjab National Bank Month chart Analysis

• Punjab National bank Month chart shows support at 69 levels if that is not held then 57 levels are possible. 57 Levels are last seen in Year 2009. For long term bulls of the stock crucial to stay above 57 levels.

BELOW ANALYSIS WAS MADE IN FEBRUARY 2018. A BEARISH "M" WAS SEEN IN CHART @ THAT TIME 

Previous Anlaysis of PNB: Link