February 18, 2018

APPLE Weekend update

  • APPLE Month chart shows price moving into resistance zone.
  • Weekly chart is showing big momentum in favour of bulls.
  • Only time frame that's giving some hope for bears is the Daily one which has a Pin Bar candle. The placement of the PIN BAR is not ideal. It will be good always if the PIN BAR forms above the previous candle, But still if price closes lower on Monday a bigger correction may start.
  • ES Weekend update

ES Weekend update

  • ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
  • Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
  • Hour is in a nice bullish channel. If channel lines holds bounce will extend.
  • My Preferred view will be to look for a close below 50 SMA to go short. 
  • ES Hourly bullish "W" Pattern

February 17, 2018

NIFTY Weekend update

  • Nifty falling back to its 100 Day SMA again. Another test of this line may work in favour of bears to close below it. Then price may fall to the 200 SMA. Bigger trend or the Daily trend will not change unless price close below 200 Day SMA.
  • Week has closed right at 20 Week SMA. Difficult to know the direction from here. A bigger bounce may happen or a breakdown below 100 SMA is also possible. 

February 16, 2018

CRUDE Oil chart analysis

  • Crude bulls trying a Bullish swing
  • Bulls need to stay above hourly cloud and the 20 SMA of 4 hour time frame. Closing below these levels will negate the bullish attempt by crude bulls.

ES Chart Analysis after closing bell

  • We saw the Second long shadow at the 200 SMA and discussed the possibility of 2700 again But i was not expecting a complete reversal. Its not yet a complete reversal, Week need to close above 2760 for bulls to confirm strength in Weekly time frame. Today's close being a weekly one is crucial for Both bulls and bears. 
  • Fall below 2689 may trigger a correction today. Staying above the hourly trend line will continue to favour bulls to extend gains.
  • ES Hourly bullish "W" Pattern which worked well

PUNJAB National Bank chart Analysis

  • PNB Month chart shows price at crucial support level of 128. If this level is not held then price may fall towards 112.
  • Month chart also shows the possibility of a Big Bearish M pattern. For this one to come good price must sustain below 128 and 112 levels.
  • Bulls need to sustain above 128 levels to avoid the bearish scenario. 

February 15, 2018

ES Chart analysis before opening bell

  • ES 4 Hour and Daily is back to recent resistance zone. During the fast fall price bounced from 200 SMA to this zone. If this zone acts resistance another visit towards 200 SMA is possible But for now Bulls are showing some strength.

INFOSYS Chart Analysis

  • Infosys daily chart shows support line at 50 Day SMA. Bigger weakness for the stock only if price closes below this line.
  • For now Daily Lower Bollinger band is acting as support. Bigger up move above 1142 levels. Weakness only on closing below 50 Day SMA.

February 14, 2018

IWM Month breakout and Weekly support

  • IWM Month chart shows the Breakout from the pattern and Price retesting the pattern resistance line. The resistance line of the pattern is now acting as support. This breakout will be invalidated if price falls back into the pattern.
  • IWM Week shows support at 50 Week SMA. Bulls are safe if price stays above this line. Next bigger fall when and if price closes below this line. 

TATA Consultancy Services Chart Analysis

  • Month chart shows the big breakout and Correction which has erased half of the gains for bulls. 
  • Now weekly chart shows previous high's as possible support zone for this correction. If that zone is not held and price falls back into the pattern then its worse for bulls. Bulls must stay above 2800 levels to avoid bigger bearish possibilities in the coming months.

February 13, 2018

GOLD Chart update

  • Gold 4 hour possibly moving in a bearish flag into the resistance zone.
  • Resistance level around 1333 - 1337 zone.

CRUDE Oil chart update

  • Crude oil continues to respect the support line and Moving average discussed in weekend update. Till price stay above them a Chance of a bigger bounce exist from the current levels.

February 12, 2018

NIFTY Trend update

  • Nifty Daily is testing 100 SMA and the cloud. Trend will become weaker if bulls are unable to hold on to these levels. But the rule of Bull market above 200 SMA continue to be alive. Major threat to the trend only if 200 SMA gets broken on closing basis.
  • NIFTY Weekend update

February 11, 2018

GOLD Weekend update

  • 4 Hour chart continues to look bearish as price stay below the cloud.
  • 1325 is a crucial number in 4 hour time frame. Moving above this level a bounce towards 1340 or the 4 hour cloud is possible. Staying below 1325 price will test the 50 Day SMA of daily time frame. Next bigger move of Gold depends on how price is about to react from 50 Day SMA.
  • APPLE Weekend Update
  • ES Weekend update
  • CRUDE Oil Weekend update

CRUDE Oil Weekend update

  • CRUDE Oil one hour chart shows price trending down below the cloud.
  • Daily time frame is at crucial support zone. Crude bears need to close below the cloud to extend the fall. 
  • ES Weekend update

APPLE Weekend update

  • Apple weekly chart shows bounce from support zone 148 - 150. Despite the bounce price continues to stay below 200 Day SMA.
  • Hour cloud shows price trending below it. Friday's bounce will have more meaning if it moves past the cloud. Next hurdle will be the 200 SMA in daily time frame. Unable to take out these levels will keep the weakness intact for Apple.
  • ES Weekend update

February 10, 2018

ES Weekend update

  • ES daily chart shows another candle bouncing from 200 Day SMA. Bullish candles at 200 SMA With long lower shadow means possible test of 2700 again.
  • Cloud at 4 hour chart may act as immediate resistance zone.

CRUDE Oil support and resistance levels

  • Crude oil month candle shows the weakness. But with many more days to go for the close of the month Only a close at the current level or lower can confirm weakness in this time frame.
  • Daily chart shows immediate support and resistance levels. 

ES Weekly target levels

  • Price likely to visit the weekly trend line and Lower bollinger band of the same time frame. Lower BB is around 2450 for the current week.
  • Pause at the lower BB may result in a bounce. 

February 9, 2018

ES Falling back to 200 Day SMA

  • ES Daily is falling to 200 Day SMA. Daily has also closed below the cloud after a long GAP. For any bounce from here daily cloud may act as resistance. But for a bigger fall 200 SMA must break. Close below 200 SMA will confirm the weakeness of Bull Market.