S&P 500 futures in a channel

CHART - III

CHART - II

• S&P 500 futures hour chart has violated the support line.
• But it is not falling as expected. 1085 - 1088 region is crucial for bulls and bears.
• If 1085 breaks we can see good correction

CHART - I

• S&P 500 futures hour chart is trading in a down trending channel.
• It is close to a breakout point. The index can give good direction soon. 
• Break of the support line will favour bears.
• Hourly stochastic is showing some positive divergence. But it seems there will be another down move before the positive divergence in hour chart shows its effect.
• Wait for a clear direction before taking a trade.

FLAG of S&P 500

RANGE IN 10 MINUTES CHART

• There is a bear flag developing in S&P 500's 10 minutes chart.
• But the indicators in bigger time frame like hour is in oversold territory which can give a small bounce from here.
• We can get a clear direction if the range of 1092.85 - 1097 in 10 minutes gets broken.

Dow Jones futures hour chart

CHART - II

• Weakness in Dow Jones Futures was evident from the below chart.
• If the correction is limited to 10360 another up move possible today.

CHART - I

• Dow Jones futures is showing some weakness at the top.
• If it comes below last weeks breakout area things could turn in favour of the bears.
• Breakout area is around 10360 so buying may come in before the index reaches there.

Nifty Futures Intraday Update I

CHART - III

• NF Showing some weakness at the top

CHART - II

CHART - I

• Nifty futures is trading in a small range today from 5570 - 5593
• Break of  5593 can take the index higher.
• The support line break of 5570 may get support near 5562. Break of 5562 can give a decent correction.
• DOW JONES FUTURES IS LOOKING WEAK
  

Nifty Futures Intraday Update

• Nifty futures 5 minutes chart is showing support at 5562 Resistance is marked at 5593.
• The index may trade within this range for sometime.
• Since we are at historic high one has to wait for clarity to emerge before taking a decision

Reliance industries support and resistance points

• 958 is immediate resistance for reliance industries. 
• Above 958 reliance will march towards 993.
• Stock should get some help from its 20 DMA. A Break above 20 dma and trading strongly above it can give the stock good upwards momentum.
• LIVE CHART FOR RELIANCE INDUSTRIES
  

Nifty end of day analysis

CLICK THE CHARTS TO ENLARGE

• Nifty's weekly chart is yet to give a breakout.
• daily chart has closed at the resistance line.
• Stochastic indicator is showing good negative divergence despite the good up move we had yesterday. Same with RSI too.
• Trading above 5600 would be great news for the bulls.
• Trading below 5479 will keep the bears happy.