Nifty charts and latest market updates

Caterpillar Looking weak at resistance levels

2012-02-12T16:48:00.000+05:30

Weekly resistance between 114 - 117.
MACD and RSI of daily charts showing weakness.
Closing below Crucial moving averages like 20 Day SMA may trigger a sell in daily time frame.
SPX WEEKEND UPDATE

Bearish Candle of DELL

2012-02-12T00:18:00.001+05:30

Dell weekly chart has a bearish candle at resistance line. MACD Histograms in daily is setting up good negative divergence. MACD lines is yet to trigger a sell. Price closing below crucial moving averages may result in a correction.
SPX ANALYSIS

Dark Cloud Cover of citigroups Inc

2012-02-11T20:24:00.000+05:30

Citigroup closed in red on Friday after a Dark cloud cover pattern. Week candle too looks bearish. Falling below 32.64 level will target the 20 Day SMA. Bigger correction possible only if price closes below 20 Day SMA.
Last chart is the weekly time frame shown with a resistance line which was broken last week. Bears need to break below this resistance line for a bigger correction to unfold. Price staying above this resistance line will favor bulls for an up move.
S& 500 ANALYSIS AFTER CLOSING BELL

S&P 500 Analysis after closing bell

2012-02-11T05:38:00.000+05:30

SPX Month continue to stay above the falling resistance line from 2007 High's. But price is yet to take out the horizontal resistance zone between 1360 - 1370 level.
Week candle is showing some doubts at the top. candles like these led to a correction as shown on the left side of the chart. SPX will be weak below 10 week EMA.
Weakness will be first visible in Four hour chart which is yet to happen. Price breaking below the 50 period SMA and the cloud will confirm a sell.

Dow Jones Chart analysis

2012-02-10T22:18:00.000+05:30

Dow Jones week and daily charts are showing weakness at previous resistance levels. Bears need the day and week to close at the current levels. Day closing below 20 Day EMA will be even better for bears.
An intraday rally and closing near day high's will help bulls to continue the trend.

ES Support levels

2012-02-10T20:56:00.000+05:30

Immediate support for ES is between 1329 - 1330 level and 50 Period SMA of four hour time frame. Candles closing below these levels may lead to an extended correction.

EURUSD Bearish price action

2012-02-10T20:08:00.000+05:30

Bearish candle at 100 SMA gives a correction.
Bigger fall only if 1.3080 and 50 Day SMA is taken out by bears of EURUSD.
Above mentioned levels may also act as support levels.

SILVER Range Update

2012-02-10T19:16:00.000+05:30

Silver four hour chart shows a range between 32.94 and 34.51.
200 SMA stands above the range which will act as stiff overhead resistance for silver.
Unable to break and close above 200 SMA will lead to a breakdown below 32.94 which may give 31 levels for bears of silver.
RANGE OF GOLD

NIFTY Range Update

2012-02-10T12:38:00.001+05:30

Weakness only if price breaks and closes below the range.
Day closing above 5400 or inside this range will continue to favor bulls as the trend is yet to weaken
Bears has to break multiple support levels in 50 Hour moving average and Range support line.
RANGE OF GOLD

NIFTY Analysis

2012-02-10T08:12:00.000+05:30

Nifty continues to close the days above important resistance levels. Today's weekly close if happens above the 50% Fib level then the next logical target should be the Golden ratio shown in the last chart. So today's closing is crucial.
USDINR TREND UPDATE

Range of GOLD

2012-02-10T01:38:00.001+05:30

First chart shows support and resistance lines of gold. second chart shows 100 Period SMA which may act as strong support in the short term. But a breakdown below these levels cannot be ruled out because of the bearish patterns in week and daily chart CLICK HERE TO SEE THE PREVIOUS POST ON GOLD

CRUDE OIL Channel resistance line

2012-02-09T23:53:00.003+05:30

CHART-II

Crude oil chart discussed below has given a correction. Price falling below 50 Period sma will extend correction towards 96 levels.

CHART-I

Crude Oil four hour chart near channel resistance line.
Bearishness here may take oil towards 97 and below.
Bulls of crude oil need a channel breakout to continue the up move.

RANGE OF GOLD

SPY Resistance levels

2012-02-09T20:46:00.000+05:30

SPY Month chart shows possible resistance level between 137 - 137.20 level.
Month fibonacci levels shows possible resistance at 78.6% Fib level.
COPPER CHART ANALYSIS

IBM Chart Analysis

2012-02-09T19:25:00.000+05:30

IBM Daily chart at previous resistance levels.
Daily closing above 194 levels may take the stock to 200 levels initially.
Close below 191 or 10 Day EMA may give a MACD sell signal which should target the GAP area near 184.
ES ASCENDING TRIANGLE

COPPER Support and resistance levels

2012-02-09T18:05:00.002+05:30

CHART-II

Range shown below has given a good breakout. If the current four hour candle closes near the high this momentum should take copper to 4.1077. Bears of copper need price to fall back into the range.

CHART-I

100 Period SMA of four hour time frame is an important support. Copper will be weak below this level.
Important resistance is at 3.9290. Range support is at 3.7503
ES ASCENDING TRIANGLE

ES Ascending triangle

2012-02-09T16:28:00.000+05:30

Hour closing above 1348 should give another 10 Points for bulls.
sustaining below the hourly cloud should give similar results for bears.

NIFTY Hour and India VIX Daily charts

2012-02-09T11:24:00.003+05:30

CHART-II

CHART-I

INDIA VIX AS OF YESTERDAY

Nifty continues to trade in a narrow range. An hourly close outside this range may give momentum for price.
VIX chart shows price near resistance line. It could go either way from here. Getting resisted at the down trend line will continue to favor bulls of nifty.

NIFTY Support and Resistance levels

2012-02-09T08:11:00.001+05:30

Line chart shows price moving around the 5360 mark. Daily chart too is making a small range here over the last 3 days. Once this range between of (5320 - 5414) gets broken on closing basis nifty will move away from this support resistance level. A bearish weekly candle at this level may give some relief for bears next week.
Important support is at 5260 levels which is the 50 Week SMA. Resistance is the 50% fib level as shown in 2nd chart.

ES Trend update

2012-02-08T22:26:00.001+05:30

CHART-II

First hit at the trend line shown below gave an up move. Price hitting the trend line again.

CHART-I

Above mentioned levels may prevent a bigger fall for now. Bears need hours to close below these levels.

EURUSD Support and Resistance levels

2012-02-08T20:32:00.000+05:30

EURUSD at 100 SMA and above 38.2% Fib level.
Daily closing above 100 SMA will give momentum for the Inverted Head and Shoulders pattern.
Falling below 38.2% may trigger a sell.

SPY Week and Daily chart analysis

2012-02-08T18:59:00.000+05:30

SPY Week on closing basis shows resistance level between 134 and 136.
week closing above 136.4 will keep the bullishness alive. Staying below 134 will keep bears interested.
Daily chart shows negative divergence But price need to close below 10 day EMA for triggering a bigger correction.
SILVER at 200 SMA

SILVER at 200 SMA

2012-02-08T17:44:00.000+05:30

Silver daily chart near 200 SMA.
For the up move to continue daily candle should close above 200 SMA.
Bearish Daily candle at 200 SMA will result in a correction. Staying below the horizontal support line at 32.94 may give a bigger fall in silver.

CRUDE OIL Channel update

2012-02-08T15:22:00.000+05:30

Crude Oil moving up towards channel resistance line.
Price is also moving away from 50 Day sma.
Up move will sustain on closing above the channel resistance line.
Getting resisted at channel resistance will take crude oil back below 50 Day SMA again.

NIFTY Futures intraday update

2012-02-08T12:55:00.005+05:30

CHART-II

False spike above the range. NF Falls back into the range

CHART-I

NF is in a range between 5332 - 5414
2nd chart shows price contraction in an ascending triangle like pattern. Breaking support or resistance line of this pattern may give good direction for NF.

SBI Resistance levels

2012-02-08T07:36:00.000+05:30

SBI pausing near 50 Week SMA.
This is also the Golden ratio level for the fall from 2529 - 1571.
So for bulls to continue this up move a week need to close at its high. A bearish weekly candle might result in a pull back.
MACD histograms in daily has started to diverge. But price yet to confirm weakness, It need to close below 10 Day EMA for an extended correction to happen.
CNX IT NEGATIVE PRICE ACTION

CNX IT Negative price action

2012-02-08T07:08:00.000+05:30

CNX - IT is showing negative price action at the top of the range. One good thing for bulls is that its happening closer to and above 200 SMA. So any correction may be limited to this important level.
2nd chart shows an overbought RSI turning down. Price closing below 10 Day EMA will extend this correction towards 200 SMA.

ES Week and Hour chart analysis

2012-02-07T19:33:00.000+05:30

ES Week candle struggling near previous resistance level.
Hour chart is showing a range between 1329 - 1343. we might see a bigger move when this range gets resolved.

COPPER Near Support levels

2012-02-07T18:47:00.001+05:30

Copper four hour near support line.
Price is also near 100 period sma.
Breakdown below this level may target 3.64 levels in copper.
Getting support here will target 3.86 level.
SILVER SUPPORT LINES

SILVER Support lines

2012-02-07T16:16:00.002+05:30

Price took support at the support line shown in the below chart and is back near the resistance line of silver at 34.40.

CHART-I

Silver four hour chart shown with up trend line and Horizontal support lines.
Breakdown and close below 32.94 may target 31.55 levels.
Getting support at 32.94 will result in an up move.

NIFTY Futures intraday update

2012-02-07T13:03:00.004+05:30

CHART-II

Channel line has broken. Next support at 5330 levels. Closing below this level will favor bears.

CHART-I

NF is not giving big corrections in favor of bears.
Overbought indicators are giving sideways corrections followed by upper breakouts.
Price continue to trend up above 50 Hour SMA as shown in 2nd chart.
Breaking the up trend line shown in first chart may give a correction in favor of bears.

NIFTY Analysis

2012-02-07T07:59:00.001+05:30

Price nearing 50% Fib level for the fall from 6335 - 4531 and it is also near previous swing high of 5399. If these levels manage to stop bulls bears might get some relief. But MACD lines and moving averages continue to shows strength.
USDINR CHART UPDATE

DOW JONES Analysis after closing bell

2012-02-07T05:44:00.000+05:30

Dow Jones still below weekly resistance level.
Day is trading well above 20 Day SMA which will favor bulls.
30 Minutes chart shows with rising support levels which may also give a breakout above last week's high soon.
Hope for bears only if they manage to break below 20 Day SMA. Trend will remain in favor of bulls as long as price stays above this sma.

GOLD Doji Week and Bearish Engulfing

2012-02-07T00:21:00.001+05:30

Gold weekly chart shows a Doji Candle.
Daily chart has a bearish engulfing pattern.
Bearishness of both these charts will be negated on a breakout above 1763 as shown in the last chart. Four hour chart also shows possible support at the cloud. Breaking below the cloud will extend the down move in Gold.
EURUSD TREND UPDATE

GOOGLE Chart Analysis

2012-02-06T23:00:00.001+05:30

Google filling the Gap in daily chart.
Price is also moving towards 50 Day SMA.
Getting resisted at 50 SMA and the close of the GAP may result in a down move. On the contrary price is in a range between 50 and 200 SMA. We may see good moves when this range gets resolved.
EURUSD IHNS PATTERN

QQQ Support and Resistance lines

2012-02-06T22:01:00.002+05:30

Breaking 62.12 will give the next up move for QQQ.
For bears price weakness is possible below the trend line
EURUSD IHNS PATTERN

EURUSD Trend update

2012-02-06T19:15:00.000+05:30

EURUSD Has a bullish pattern But price has to sustain above 23% Fib level and 50 Day SMA for the IHNS pattern to work in favor of bulls of EURUSD.
PCLN RESISTANCE LINE
ES TREND UPDATE

ES Trend Analysis

2012-02-06T18:22:00.000+05:30

ES sustaining above 1329 will favor bulls.
For bears weakness only if price falls below 50 Hour SMA or Hourly cloud.
QQQ WEEKEND UPDATE
SPY WEEKEND UPDATE

NIFTY Weekly Analysis

2012-02-06T08:12:00.000+05:30

For nifty's trend to turn, last swing high shown in second chart should be taken out. Price continue to move away from 200 SMA. Month chart shows higher possibilities but one should consider the time factor and a possible pull back to 200 SMA before looking at higher targets for the current month contract.
CNX IT NEAR RANGE TOP

CNX IT Near Range Top

2012-02-06T07:58:00.000+05:30

CNX - IT Moving away from 200 week moving average.
Weekly chart Trying to break the cloud If successful the up move of last two weeks will continue

PCLN Near Resistance line

2012-02-06T00:06:00.000+05:30

PCLN Weekly chart shows price hitting the resistance line.
Second chart shows a Buy signal with Weekly MACD indicator. So a short trade at this resistance line can be taken only after a confirmation.
Third chart shows price above 10 Day EMA and Daily MACD lines looking positive for bulls. So a short trade can be taken after a MACD Sell signal and a close below 10 Day EMA. If price sustains above 10 Day EMA it could lead to a breakout.
QQQ WEEKEND UPDATE
SPY WEEKEND UPDATE

QQQ Weekend update

2012-02-05T18:58:00.000+05:30

Month closed above the resistance line. February month candle is holding above the high of last month candle which will help bulls to extend the up move.
2nd chart shows the possible target for the range breakout if price holds above last month's high price.
3rd chart shows price closing above 10 day EMA and sustaining above this level till now. Weakness only if price falls below this level.
SPY WEEKEND UPDATE

SPY Weekend Update

2012-02-05T07:44:00.002+05:30

SPY Month chart shows price above the resistance line drawn from 2007 top. But price is also nearing a horizontal resistance line near 137 levels as shown in 2nd chart. Weekly charts also shows Horizontal resistance levels near 135 and 137. Four hour chart does not show any weakness yet may be we can expect weakness to be seen near 135 or 137 levels.
DOW JONES WEEKLY RESISTANCE LEVEL

GLD Weekend update

2012-02-04T22:51:00.001+05:30

GLD weekly chart showing a shooting star or an Inverted hammer pattern.
Price is still above the trend line as shown in daily chart. Breakdown below the trend line along with a MACD sell may give good downside for GLD.
If bearishness continues into next week possible retest of the broken resistance line and 200 Day SMA looks possible.
GOLD CHANNEL BREAKDOWN

CISCO Bullish Engulfing

2012-02-04T19:54:00.000+05:30

Daily chart shows price trending up above 50 Day SMA.
Weekly chart shows a bullish engulfing pattern which should help bulls to continue this up move.
Next resistance will be the 50% Fib level. Closing above 50% Level should take price to 22 Levels.
Month chart too is looking good for bulls with a closing above 20 Month SMA. Month chart Price action should take stock to 22 Levels which is golden ratio as shown in 2nd chart.
GOLD CHANNEL BREAKDOWN

DOW JONES Weekly resistance level

2012-02-04T02:11:00.001+05:30

Dow Jones weekly resistance level at 12875.
Week candle closing above this level would be perfect for bulls.
Closing below this level will keep bears interested.
GOLD CHANNEL BREAKDOWN

BIDU Triangle Update

2012-02-03T23:15:00.002+05:30

Bidu is moving away from the triangle resistance line and away from 200 SMA.
Closing above 200 SMA will confirm the bullishness.
First hurdle above 200 SMA for bulls of this stock is 137. Close above 137 will lead to a bigger up move.
DIAMOND OF DOW JONES
MICROSOFT RESISTANCE LEVEL

Microsoft Resistance level

2012-02-03T22:14:00.001+05:30

MSFT Monthly chart with triangle breakout and Resistance level.
Current up move will hit 30.50 - 31.50 Zone which will act as resistance.
This zone has acted as resistance many times in the past.
Bearish weekly candles at this zone may lead to a reversal. Week candles should trade above this zone on closing basis for a bigger up move to happen.
ES SUPPORT AND RESISTANCE LINES

ES Support and Resistance lines

2012-02-03T20:10:00.001+05:30

Daily chart of ES shows a rising wedge like pattern.
Four hour chart shows breakout above 1329. Holding 1329 price may target the resistance line in daily chart.
For bears price shall fall below 1329 and 1325 levels.
GOLD CHANNEL AND GOLDEN RATIO

GOLD Channel and Golden ratio

2012-02-03T18:34:00.002+05:30

CHART-II

Channel discussed below has given a breakdown. Daily chart is getting resisted near Golden ratio.

CHART-I

DAILY CHART

Gold Hour chart shows an ascending channel.
Daily chart is near resistance levels like golden ratio and previous swing high 1763.
Break of channel support line may result in a correction.
TRIANGLE OF COPPER

Triangle of COPPER

2012-02-03T18:02:00.001+05:30

CHART-II

Copper triangle breakout has given good gains for bulls of copper. Price is nearing the golden ratio shown below in the daily chart, this level may continue to act as resistance.

CHART-I

Copper Four hour chart shows a triangle pattern
Support line of the triangle is the 50% Fibonacci level as shown in the second chart.
Breaking the resistance line of the triangle may give a rally towards the golden ratio shown in second chart.
DIAMOND OF DOW JONES

NIFTY Futures weekly chart

2012-02-03T15:20:00.001+05:30

Nifty futures weekly chart hits previous support level which might act as resistance.
It's an up trending market. So going short is advisable only when weakness is confirmed.

NIFTY Analysis

2012-02-03T08:21:00.001+05:30

Nifty Volume chart shows good addition in volume along with price increase.
2nd chart shows chance of a bullish crossover. If price sustains above 200 SMA crossover will be effective and the up move will continue.
Price Testing 5 Month High EMA. For bulls price shall sustain above Last month High and 5 Month High EMA to avoid weakness.
DIAMOND OF DOW JONES

Diamond of Dow Jones

2012-02-02T22:51:00.001+05:30

CHART-II

Was expecting a diamond top But ended up as a continuation pattern. Closing above 12841 will favor bulls.

CHART-I

Hour chart of Dow Jones is forming a diamond pattern.
For bears price has to fall below 100 Hour SMA and the support line of the diamond.
Taking support at the support line and breaking the resistance line will favor bulls for continuing this up trend .

EURUSD Support and Resistance

2012-02-02T20:05:00.001+05:30

50 Day SMA may act as support if price falls towards it.
1.3234 is the resistance line.
Closing outside these levels may give a bigger move for EURUSD.
SINA CHART ANALYSIS
ES BULL FLAG

ES Bull Flag

2012-02-02T19:23:00.001+05:30

Smaller time frame is showing a possible continuation pattern
Four hour time frame too is staying above the cloud which will help bulls to extend gains.
Price falling into the cloud will be negative.
Red horizontal lines may act as resistance levels, Breaking them will favor bulls to extend gains.
SINA CHART ANALYSIS

SINA Chart Analysis

2012-02-02T18:31:00.001+05:30

Price sustaining above 100 SMA will extend gains for bulls of SINA.
Week chart is above Middle bollinger band. Closing above this level will extend gains towards the dotted resistance line shown in 2nd chart.
Last chart weekly line chart which may act as resistance.

CRUDE OIL at 100 Day SMA

2012-02-02T16:48:00.000+05:30

Getting support here at 100 SMA will favor a bullish trade in crude oil
Price sustaining below it may push crude oil towards 200 Day SMA.
POSSIBLE TARGET LINE FOR US DOLLAR

Reliance Communication Chart Analysis

2012-02-02T13:25:00.001+05:30

For Rcom its a big volume day. Stock moved from 102 to 91 and its trading near 97 again.
10 Day EMA is at 94 Stock has managed to close above 10 Day EMA from 70 levels. Today being a high volume day a bearish close may give a pull back for rcom in the coming day's.
Any close above 98 means that today's action is just a shakeout of the weak bulls and to continue the up move.

NIFTY Weekly channel update

2012-02-02T08:08:00.002+05:30

Nifty closed above 200 SMA.
Price has violated weekly resistance line.
Staying above 5 Month High EMA will extend gains for bulls.
POSSIBLE TARGET LINE FOR US DOLLAR
BANK NIFTY CHARTS

BANK NIFTY Near resistance lines

2012-02-02T07:38:00.000+05:30

Daily chart managed to close above 200 SMA.
Weekly chart has the tougher task of breaking out of the channel.
Indicators have come to the overbought zone in weekly time frame. So there has to be a breakout for sustaining this up move.
Bears badly need a negative weekly candle at this level.

US Dollar Target Line

2012-02-01T22:14:00.001+05:30

US Dollar falling in a narrow channel
If the channel holds price may target the blue trend line shown in first chart.
Breaking below 38.2% Fib level will extend correction towards the trend line.

AUDUSD Resistance level and target zone

2012-02-01T20:43:00.000+05:30

AUDUSD Trying to move away from 200 SMA.
Resistance is seen between 1.0750 - 1.0763 level. Breakout above this level may take this pair towards 1.1010 - 1.1080 zone.

AMAZON Chart Analysis

2012-02-01T18:37:00.001+05:30

Week candles shows resistance at 50 Week SMA.
If a correction happens Weekly support line may act as support.
If weekly trend line breaks important support levels are 166 and 160.
Bullish structure of the stock will be tested below 160.
ES TREND ANALYSIS

SILVER Channel and Range

2012-02-01T16:12:00.000+05:30

Silver Four hour moving up in a channel
As long as the channel holds the consolidation ranges should result in up moves.
2nd chart shows important support and resistance levels in Hourly chart.

NIFTY Month End analysis

2012-02-01T09:53:00.002+05:30

Nifty does a Bullish month it narrowly missed the 5 Month High EMA like it has done many times during this down trend.
For a bigger move to happen price has to give a clear breakout from this descending channel.
Fibonacci fan's shows the beauty of Fib lines Nifty took support at Golden ratio line and rallied to close exactly at the 50% Fib line.
For bulls February candle shall trade above last month high price for the momentum to sustain or the larger trend will take effect.

NIFTY Chart Analysis

2012-02-01T07:51:00.000+05:30

In the last few attempts whenever 5 Day Low EMA approached 200 SMA it only managed to fall fast.
One more candle above 200 SMA will confirm a breakout. Bears badly need a close below 5 Day Low EMA.
If price manage to stay above 200 SMA price will move into the previous support zone as shown in 3rd Chart.

S&P 500 Futures Trend update

2012-02-01T03:55:00.001+05:30

CHART-II

Chart discussed below has given a good breakout in favor of bulls. candle closed outside the pattern and an up move followed. Price looks good to reach the recent high made in ES.

CHART-I

Next breakout from the above pattern should give good direction provided its on closing basis.
Price may test 100 Period SMA again which acted as support yesterday. Close below this average line may favor a bearish trade.

DELL Weekly Resistance level

2012-01-31T20:38:00.000+05:30

Dell weekly chart shows resistance between 17.50 - 17.60 level.
Daily chart looks overbought.
Week closing above this level can extend this up move. Weekly candle getting resisted here will result in a correction.
PROSHARES ULTRA SEMICONDUCTORS CHART ANALYSIS
RIMM RESISTANCE LEVELS

RIMM Resistance levels

2012-01-31T19:18:00.001+05:30

RIMM Weekly chart near Middle bollinger band
Next two chart shows the strong down trend of the stock.
Price has to close above the daily cloud and 100 SMA for a possible change in trend to happen. Till then consolidations will result in down moves.
PROSHARES ULTRA SEMICONDUCTORS
SPX ANALYSIS AFTER CLOSING BELL

USD - Ultra Semiconductors Chart analysis

2012-01-31T18:24:00.000+05:30

Support and resistance lines of weekly chart shows possible triangle in the making.
MACD may trigger a sell if price falls below 40.27.
Major support is the 200 SMA which is near 36 levels.
SPX ANALYSIS AFTER CLOSING BELL

CRUDE OIL Support and Resistance lines

2012-01-31T16:37:00.001+05:30

Crude Oil near the apex of a contracting pattern.
Price may breakout of the pattern soon giving good direction for crude oil.
SPX ANALYSIS AFTER CLOSING BELL

NIFTY Chart Analysis

2012-01-31T08:15:00.001+05:30

Hanging man has managed to stop bulls from crossing 200 SMA.
But price has to fall below 5 Day Low EMA or 10 Day EMA for triggering a sell.
Price stopped at 78.6% which will keep the bears interested. Price has to sustain below the Golden ratio for bears to strengthen more.
So we shall wait and see if a sell gets triggered or a retrace of yesterday's fall happens.
S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

2012-01-31T04:18:00.002+05:30

No breakout in month chart yet.the down trend line from 2007 was tested and rejected last week.
Weekly chart's breakout was tested today. Price violated the resistance line but came back to close the day above the line.
Daily chart shows price getting support near 20 Day SMA. Any weakness will be visible in this time frame. Closing below 20 Day SMA will strengthen bears.
ES FOUR HOUR CHART ANALYSIS

ES Update

2012-01-30T23:12:00.003+05:30

ES Four hour chart managed to get back above the support line.
Staying above this support level will favor bulls.
Price also took support at 100 Hour SMA.
For bears price has to close below the support line and 100 Period SMA.

ES Four hour chart analysis

2012-01-30T20:54:00.000+05:30

ES Testing 100 Hour SMA and the Cloud.
Bears need a close below the cloud to extend correction.
EURUSD TREND UPDATE

EURUSD Trend update

2012-01-30T19:50:00.001+05:30

EURUSD Getting resisted at the cloud.
price has fallen towards 50 Day SMA which may act as support.
Price sustaining below 50 Day SMA will favor bearish trades in EURUSD pair.
ES HOUR CHART ANALYSIS

ES Chart Analysis

2012-01-30T16:47:00.000+05:30

ES One hour sustaining below 200 Hour SMA will favor bears.
One hour chart in bulls has a falling wedge pattern.
Price in four hour chart is at a support line breaking which will strengthen bears.

Nifty intraday Update

2012-01-30T13:05:00.003+05:30

Price falling towards 50 Hour SMA. Price getting support there might result in an up move.
As of now daily chart shows a perfect setup for the hanging man. But an intraday up move may spoil the setup for bears.
MCX GOLD NEAR RESISTANCE LEVELS

TATA STEEL Resistance levels

2012-01-30T09:54:00.000+05:30

Tata steel moving towards the resistance line of a broadening pattern.
Till now the support and resistance lines of this pattern has held well as shown in the second chart.
Resistance line is expected to hold this up move. But momentum is with bulls which may lead to a breakout and test of 200 SMA.
BANK NIFTY WEEKEND UPDATE
NIFTY WEEKEND UPDATE
MCX COPPER WEEKEND UPDATE

SBI Chart Analysis

2012-01-30T07:58:00.000+05:30

SBI is trying to break the Weekly channel resistance line.
Daily is also testing 200 Day SMA. Price is showing some weakness here. We might see a consolidation here before the next big direction. Price closing above 200 SMA will be positive for bulls to extend this up move. For bears they should get closing below 10 Day EMA or 20 Day SMA.
BANK NIFTY WEEKEND UPDATE
NIFTY WEEKEND UPDATE
MCX COPPER WEEKEND UPDATE

GOLD Weekend update

2012-01-29T22:19:00.001+05:30

Daily chart shows Golden ratio and resistance levels between 1760 - 1770 levels.
Weekly chart too shows a channel resistance line between the above mentioned levels.
Problem for bears of gold is that this weekly channel was violated many times in the recent times. So another channel break and a bigger up move cannot be ruled out.
QQQ WEEKEND UPDATE

BIDU Triangle breakout

2012-01-29T06:53:00.000+05:30

Bidu has violated the triangle resistance line and closed outside the pattern.
Price will face resistance at 200 Day SMA. If the stock sustains above 200 SMA then price will move towards 137 and higher levels can be seen as shown in the last chart.
QQQ WEEKEND UPDATE

SLW- Silver Wheaton Weekly update

2012-01-29T00:11:00.000+05:30

SLW breaking above 200 SMA and unlike the last time price action is looking good for continuing the current up move above 200 SMA.
Weekly line chart shows bullish price action out of a consolidation pattern.
Last chart shows the possible resistance levels for next week.
QQQ WEEKEND UPDATE

QQQ Weekend update

2012-01-28T21:47:00.000+05:30

QQQ Violates the Resistance line which was expected to give a correction in favor of bears.
There is no Big volume increase during breakout. But It's a similar kind of breakout as the last one which is explained in the last chart.
Month chart shows the January candle breaking the resistance line. January if closes above the resistance line we may see bulls extending the current up move with smaller corrections.

NIFTY Weekend Update

2012-01-28T12:57:00.001+05:30

Everything looks bullish here except for the Hanging Man at 200 SMA
The Selling zone post showed recently may not work If the Hanging Man fails.
Hanging man pattern is not a strong indicator It need a Gap Down a Lower close and High volume to confirm the bearishness of this pattern.
Weekly line chart looks good for bulls. Bears shall hope that this is a false spike above the down trend line.
BANK NIFTY WEEKEND UPDATE

BANK NIFTY Weekend Update

2012-01-28T08:26:00.001+05:30

BANK NIFTY closed near the resistance levels in weekly chart.
Price is also nearing 50 Week SMA and channel resistance line. 50 Week SMA is near 10100 for now.
Daily chart shows two red candles near 200 SMA. But yet to close below short term moving averages. This up move has been a trend followers delight with close above 10 Day EMA Giving close to 1600 points till now.
NIFTY WEEKEND UPDATE

SPY Trend Update

2012-01-27T23:50:00.001+05:30

SPY Hour is testing 50 Hour SMA and cloud.
Sustaining below 50 Hour SMA will favor bears for extending correction.
If channel support line holds and price moves above 50 Hour SMA then bulls will be able to make an up move.
GOOGLE AT 200 SMA

EURUSD Trend update

2012-01-27T21:56:00.000+05:30

EURUSD Daily time frame is trying to stay above 50 Day SMA.
Cloud may act as resistance. If price stays above 1.3144 which was a previous support level then EURUSD may be able to continue this up move.
Daily candle closing below 1.3144 and 50 Day SMA again will be negative for this up move.

ES Testing 200 Hour SMA

2012-01-27T19:58:00.002+05:30

Staying below 200 Hour SMA will extend correction.
Breaking below the support line shown in four hour time frame will favor bears.

ES Testing 200 Hour SMA

2012-01-27T19:58:00.000+05:30

Staying below 200 Hour SMA will extend correction.
Breaking below the support line shown in four hour time frame will favor bears.

GOOGLE Falls to 200 SMA

2012-01-27T19:22:00.000+05:30

GOOG is testing 200 SMA.
Price is sustaining below 50% Fib level. Breaking below 561 may extend correction towards 547.
Oversold RSI and support at 200 SMA may give an up move.
SPX ANALYSIS AFTER CLOSING BELL

BANK NIFTY Futures Resistance level

2012-01-27T12:37:00.000+05:30

BANK Nifty Futures getting resisted at strong supply area.
This level has to be crossed on closing basis for continuing this up move.

NIFTY Resistance levels

2012-01-27T08:46:00.000+05:30

Like Bank Nifty, Nifty too is near 200 SMA.
Week chart also shows a possible resistance line.
Closing above 200 SMA may help bulls to continue this up move. Bearish candles here may give hope for bears.
BANK NIFTY RESISTANCE LEVELS

BANK NIFTY Resistance levels

2012-01-27T08:34:00.000+05:30

Bank nifty with 200 SMA near 10000 and Weekly chart too shows resistance levels in the same area. So this level should be crossed for this up move to continue.

S&P 500 Analysis after closing bell

2012-01-27T05:37:00.000+05:30

SPX hits the monthly resistance line and gave a small correction.
Daily chart shows a negative day. But the fall for now is limited the resistance line which is acting as support. Any fall and close below the resistance line in daily chart may give an extended correction.
Four hour chart too shows bearish price action at the top. But price is yet to breakdown below swing lows and important moving averages which will weaken the bullish structure.

ES Trend update

2012-01-26T23:33:00.001+05:30

ES Four hour chart shows weakness near the upper end of the channel.
short term top will only be possible if price falls below the support line in 2nd chart or the 50 Period moving average of four hour time frame.
Holding above these two levels will result in an up move after a small fall or a sideways correction.
GOLD WEEKLY CHANNEL UPDATE

SILVER Weekly Chart Update

2012-01-26T18:56:00.000+05:30

Silver weekly candle is moving up towards 50 Week SMA.
If price holds 38.2% Fib level it should target 50 Week SMA and the weekly down trend line.
Price falling below 38.2% Fib level or below 32.30 levels will be negative for bulls of silver
GOLD WEEKLY CHANNEL UPDATE

GOLD Weekly Channel update

2012-01-26T16:42:00.001+05:30

Gold has given a breakout above the slopping resistance line in weekly chart.
Price is moving towards the resistance line of the channel.
Resistance for the current week is around 1760 levels.
SPX ANALYSIS AFTER CLOSING BELL

S&P 500 Analysis after closing bell

2012-01-26T07:37:00.001+05:30

SPX Month chart shows price at the resistance line.
Consolidation in hour chart shown yesterday has resulted in another up move. Price is near resistance line of the channel again. If the monthly resistance line is to break then the current hourly structure will not change. another small sideways correction and the up move will continue inside this channel.
Price keep getting support at or near the hourly cloud. Bears need a cloud break to weaken the bulls.
APPLE WEEKLY RESISTANCE LINE

CRUDE OIL Fibonacci levels

2012-01-25T23:21:00.001+05:30

Daily fibonacci levels important low made at 38.2% Fib level. Price breaking 23.6% level may retest that support level again.
Weekly fib levels shows Crude oil unable to breakout above Golden ratio. Price if continue to get resisted here will result in good correction.
Golden ratio is also the neck line of a possible inverted head and shoulders pattern.
RESISTANCE LINE OF APPLE