March 20, 2018

NIFTY @ 50 Week SMA | Price near 10000 Round number

  • Nifty week shows price at crucial support resistance zone near 10100. 
  • Traders also look at 10000 as crucial round number. 
  • But most important here is the bounce happening from 50 Week SMA. If Week manage to hold above this line then a bounce is possible. Daily did violate 200 SMA. Weekly equivalent of 200 SMA is the 50 Week SMA. So bears need a weekly close as well below 50 to confirm bigger bearish scenario.As of now 50 Week SMA is holding for bulls.

March 19, 2018

ES 100 SMA and bollinger band Updates

  • ES Daily chart shows price moving towards 100 Day SMA.
  • 2nd chart also shows a possible support in Lower Bollinger band.
  • Bigger correction only if these levels are not held. Close below 100 SMA can be very negative for bulls as it may take price towards 200 SMA again.
  • Another point to highlight is the strength of PIN BAR at crucial levels. This one at upper bollinger band has given good results.

ES 4 Hour chart analysis

  • Price testing crucial support resistance zone in 4 hour time frame.
  • Price if sustains below 100 SMA can lead to bigger correction.