January 12, 2017

ES support levels

  • ES 4 Hour chart shows price falling towards 200 Period SMA, This line acted as support recently.
  • Daily support levels are at 2228 and Rising 50 Day SMA. Price structure will turn bearish only if these levels are broken.

NIFTY Morning update

  • Nifty hour shows trend extension. Now the weakness level is raised to 8306.
  • Weekly chart shows 50% at 8431 and Middle Bollinger band or 20 Week SMA at 8435. Now this band becomes the crucial level of resistance for Bulls to cross above.