GOLD close to the resistance line

• Gold weekly chart with resistance line.
• Gold is trading close to its weekly resistance line.
• Current bull rally may not go above 1320. 

EURUSD Rounding bottom formation

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• EUR/USD pair break out of a rounding bottom formation.
• If the pair trades above 1.3266 it can target 1.37 and above that.
• Even the most convincing looking rounding bottom pattern can fail so have tight stop loss
• Stop loss at 1.3266.

S&P 500 has a broadening pattern

CHART-II

• Index is again approaching the support line of the broadening pattern, If gets support here another rally favouring bulls can be expected

CHART-I

• Hour chart of S&P 500 futures has a broadening pattern.
• Since the price is trading around the support line of the broadening pattern we can expect an up move to happen from here.

Nifty Intraday update I

• A Double top is possible in Nifty Futures at 6044.
• If NF starts trading below 5934 we can expect big correction.
• But for now i am expecting 5934  level to give support for the index.

Nifty Intraday update

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• Nifty futures hits 6045 the high made on monday and retraces. 
• More upsides are possible only when NF breaks and trades above 6044.

Nifty daily analysis

NIFTY SPOT CHART

NIFTY FUTURES CHART

• First chart is  the nifty spot daily time frame which shows the narrowest of channels. Nifty is moving up steadily without violating the channel. 
• Second chart is the 30 minutes time frame of nifty futures which was posted yesterday. This one shows how easy it is to make money in a trending market, provided you are going with the trend not against it.

S&P 500 Analysis after closing bell

• S&P 500 is trading above 1131 which is the recent breakout zone
• Immediate resistance for the Index is 1150.
• Today There was one attempt to go above 1150 which was met with resistance. Index went up till 1148 and then retraced back and closed at 1140 level.