CHART-II
- Range mentioned in the below chart has been violated.
- Break of 1231 gave 1227.25. Price has found support in this area for now.
- Sustaining below 1227.25 may give 1224.50
CHART-I
- ES is showing a range of 1231 to 1238 with 1234 as the mean.
- Breakout or breakdown from this range can give good direction.
- 1224.50 is an important support area in case of a correction from these levels
- ES Chart is showing support at 1224.50
- This area acted as resistance so any correction may get support here.
- Trend line in daily chart may support the trend line in case of a large correction.
- Nifty Futures five minutes chart showing today's price action.
- all intraday consolidations gave short selling chances.
- 5892 level acted as good resistance.
- Break of day low at 5860 was another short selling opportunity.
- Bank nifty daily chart is showing support near 11125 levels.
- We have a support area and a trend line near this level.
- another minor support exist between 11250 - 11260. Break of this level will extend the correction up to 11125 level.
DAILY CHART OF NIFTY
WEEKLY CHART OF NIFTY
- Daily line chart shows a support line broken which is acting as resistance now.
- Breaking above this line may give upward momentum for the bulls.
- In the weekly chart the resistance line line was tested many times so if this correction gets extended that line may act as support.
