Stock Market Chart Analysis: 04/29/15

April 29, 2015

EURUSD Daily candle moves above crucial resistance levels. Bulls of this pair need a daily close above these levels to extend this up move.
Pair moves above daily cloud. Last time pair was above the cloud when it was trading around 1.37 levels.

ES 4 Hour chart shows price near rising support line and cloud. Bears need a close below these levels for bigger falls to happen.
Daily shows price taking support near 20 Day SMA. Long shadows at 20 SMA shows good support till now. Bears need a daily candle to close below this line for a correction to happen.
GOLD Testing 200 Day SMA: CLICK Here

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Gold testing crucial resistance levels.
Gold bulls need a breakout and daily close above these resistance levels to continue this up move.
Weakness here will take price back below 1180 levels again.

Apple daily has given a bearish engulfing pattern with Good volume increase. Now the pattern needs follow up price action to confirm weakness at top.
Price need to close below 127 levels and 50 Day SMA for bigger falls to happen. If price stays above 50 day SMA it will favour bulls to break above the swing high's.

Nifty daily RSI and price has given good signals lately. Right now RSI is at oversold zone But price is moving around 200 Day SMA.
Weekly chart shows price at 50 Week SMA and Testing up trend line. If these two holds the RSI long trade can work here. Risk Reward is also looking good, loss can be about 100 points while Reward if nifty bounces will be more than 300 points.
Nothing is certain here as bulls need to do more from the above mentioned support levels.
Bank nifty chart update: CLICK Here
INFOSYS Chart update: CLICK Here

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Bank nifty bulls trying to stay above 17500 - 17700 support zone.
Daily chart clearly has a Bearish or Topish pattern But for bulls there is hope in 200 Day SMA.
Weekly RSI is looking interesting. Weekly RSI is fast approaching oversold zone but price relatively has not fallen that much. If the support zone between 17500 - 17700 holds a reversal too looks possible.
INFOSYS Chart update: CLICK Here
NIFTY Chart update: CLICK Here

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Infosys has moved below 200 Day SMA. Bears are slowing down as they approach 1900 levels. Crucial support zone between 1890 - 1900 levels.
Right now price is resting at 50 Week SMA below this line price should test 1900 levels.
NIFTY Chart update: CLICK Here
Bank nifty chart update: CLICK Here

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