Double top in nifty futures

• There is a potential double top formation in nifty futures line chart.
• If the index stays below 5452 will work well. Break of 5426 will give momentum for the down move.
• If price goes above 5471 the pattern is invalid.

RELIANCE INDUSTRIES Support Line

RELIANCE INDUSTRIES WEEKLY CHART

• Reliance Industries is trading close to an important support line.
• It is a good opportunity to go long with a small stop loss. 
• One should also consider the opportunity of going short if the support line breaks.
• Both trades are possible Safe entry above 1025 go long. Below 975 go short.

Nifty Hourly chart update

• Nifty futures has resistance at 5471.
• For the up move to sustain nifty futures should trade above 5471.
• An hourly close above this level will be good for the bulls. 
• Failing to cross this level will be bearish in the short term.

S&P 500 Analysis after closing bell

HOURLY CHART

• The daily candle has given a doji showing indecision.
• The hourly chart has been doing a side way's consolidation for quite sometime now.
• The hourly line chart shows the importance of a trend line.
• If there is a correction from here the trend line may  support the index again.