December 30, 2014

  • ES 30 Minutes chart shows price trying to put up a support zone in place.
  • 4 Hour chart shows price is pausing at a crucial pivot zone. Previous resistance level is trying to act as support.
  • Last chart shows price below Hourly cloud. More weakness here if price continues to stay below the cloud.





  • NIFTY Daily stuck in an ascending wedge like pattern as shown in first chart. Till price stays within the boundaries the steady up move is likely to continue
  • Ichimoku cloud shows price testing it twice in the recent past. Bears need price to sustain below the cloud for bigger breakdowns to happen.
  • MACD Shows a possible buy signal coming But this can be a trap for bulls. Its better to look at the price levels to confirm strength and weakness.
  • Last chart shows immediate resistance levels in 20 and 50 Day SMA.



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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore