December 18, 2013
- ES one hour time frame shows price trying to stay above the cloud.
- Four hour continues to stay below the crucial 200 Period SMA. Four hour time frame will favor bears as long as price stays below this line.
- Daily chart has a bullish setup as price stays above the crucial line which is acting as support.
- Immediate supports for nifty is the Daily cloud, Golden ratio and the channel support line.
- Price has closed below 20 Day SMA, Yet to break below 50 Day SMA convincingly which may give hope for bulls of Nifty for a comeback.
- Price falling into the daily cloud on closing basis will favor bears to extend this down move further.
- AXIS Bank Intraday update >