SPY Chart analysis

• SPY 15 Minutes chart shows negative divergence. But price is not showing any weakness yet.
• Price sustaining above the cloud will not give bigger falls.

CISCO Chart analysis

• CISCO Daily closes above 50 Day SMA.
• Price testing the daily cloud.
• If the daily cloud does not stop the bulls of CISCO then price could move towards 38.2% Fib level as shown in last chart with fib levels.
• ES CHART ANALYSIS

ES Chart analysis

 

• ES One hour in a small channel.
• Break below the channel and 50 Hour SMA may give good correction.
• ES four hour chart is also showing a resistance line.
• for the up move to continue price must breakout above the channel and resistance line.

NIFTY Chart analysis

 

• Nifty is testing the triangle resistance line in daily chart.
• Last chart shows price above 5 Week High EMA (5256). Sustaining above 5256 level should extend the current up move towards the weekly resistance line.
• Week trading or closing below 5256 level will be negative.
• RELIANCE CHART UPDATE

RELIANCE Chart update

• Reliance has given a breakout above the resistance line discussed in yesterday's post.
• Price moved above 50 Week SMA.
• Now bulls need a weekly close above 50 week SMA for the momentum to sustain. 
• Weekly stochastic is nearing overbought zone so one should make sure that the stock sustains above crucial support levels.

CITIGROUP Chart analysis

• Citigroup has given a trend line breakout. But stock will face resistance near recent swing high of 29.23 and 200 Day SMA at 29.90.
• Daily close above these levels may result in a bigger up move.
• BANK OF AMERICA CHART ANALYSIS