- 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
Posted by San at 6:43 PM
Posted by San at 5:46 PM
- 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
Posted by San at 7:40 AM
- 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.
Posted by San at 7:34 AM
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