US Dollar Near Support line

• US Dollar near the support line of the Ascending triangle pattern.
• If price holds the line we may see an up move in US Dollar.
• Breaking the support line will be negative for USD
• Bigger up move will be possible on crossing 200 DMA.

SILVER Head and shoulders

• Silver hour may form a head and shoulders pattern if price gets support near 37.80 - 37.90  level.
• Price is sustaining below 50 Hour moving average which will favor a bearish trade.
• Price breaking 37.80 level will make the HNS invalid and lead to a deeper cut in silver
• SILVER - Negative Divergence
  

ES Negative Divergence

CHART-II - UPDATED

• ES has given a correction followed by negative divergence.
• Now price has taken support @ 1320 level. Price has to stay below this level for bears to extend this fall.

CHART-I

• ES 30 Minutes chart with Trend line and negative divergence.
• Price will move higher if the trend line is not violated.
• MACD and price showing negative divergence But price has to confirm for a correction to happen
• May be if the trend line is broken negative divergence may play out.
• SILVER - Negative Divergence
  

NIFTY EOD UPDATE

• Nifty has formed a bearish engulfing pattern.
• Engulfing patterns need confirmation
• But good thing for bears is that it has come near the resistance line.
• Still price has to open lower and a Good volume black candle can confirm the pattern.

NIFTY Intraday Update

CHART-III

• Head and shoulders have given good correction in favor of bears.
• Now correction may continue only if nifty break below 5550 level

CHART-II

CHART-I

• Nothing much has changed from the start of the series.
• We are still hovering around the 5600 level.
• Bears and Bulls are not being allowed to pull away from this level.
• Below 5600 - 5604 its the bearish zone. above 5604 Bulls have a chance to breakout.
• Bigger breakouts are either below 5496 or above 5740.

RELIANCE chart analysis

CHART-IV

• Triangle of reliance is broken

CHART-III

CHART-II

• Price is getting resisted at the trend line shown below.
• For bulls price has to break and close the day above this line
• For bears if price stays like this it will be easy for them to push it down to the support line

CHART-I

• Reliance is trading close to its support and resistance lines in daily chart and should break one way or the other.
• Price has given a bullish engulfing pattern in daily time frame. But We need confirmation in the form of follow up buying for confirming the bullishness.
• Price is getting support from 20 Day Moving Average. But crossing 50 DMA will be a hard thing to do.
• 20 DMA @ 865
• 50 DMA @ 900 Note: Yesterday's Values

Cloud of APPLE

• AAPL Hour chart moving up in a channel.
• Trend looks strong in hour time frame.
• Price yet to touch the cloud span in hour time frame.
• One can hold on to long position as long as price does not close below the cloud span.