January 30, 2017
- ES 4 hour chart shows price nearing previous resistance line which may act as support
- 38.2% and 2280 level is the immediate level for bulls to defend.
- If falls below 2280 Price may target 2277 and 2272 levels.
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- Nifty 15 Minutes nearing the cloud. When the trend is strong cloud in this time frame usually acts as support.
- One hour chart shows a Bearish candle at the top and the current move against the trend happening. Bulls will remain strong above 8600 levels.
- Last is the 5 minutes time frame which shows crucial levels for the Day.
- ICICI Bank Price Volume Action
- Nifty month closing above or near November month candle high's will keep the bullishness intact. This can also complete a possible morning start pattern Although this is not the appropriate place for the pattern It shows further bullish possibility.
- But one warning for Bulls is the Overbought RSI in daily time frame. So further bullish bet from here would be risky one.
- ICICI Bank Price Volume increase before quarterly results.
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