BANK NIFTY ,SBI and VIX Analysis

BANK NIFTY DAILY

STATE BANK OF INDIA DAILY CHARTS

INDIA VIX

• Bank nifty is slowing down near 200 DMA. 
• Price has given a doji candle near 200 DMA. Doji shows indecision and when it comes near moving important moving averages or trend lines it usually lead to a good move in either direction.
• SBI is pausing at 38.2% Fib resistance level and near 50 Day moving average. Price should sustain above these levels for this up move of SBI to continue.
• India Vix seems to be making a bottom. If stochastic starts to move up then we may see the VIX move up.

APPLE Hits the resistance line

• AAPL on Friday closed at the resistance line.
• Indicators have reached overbought levels.
• Overbought indicator reading near this resistance line has given good short trades as of now.
• So if price gives negative candle near the resistance line then its time to go short again.
• DOW JONES WEEKEND UPDATE
  
• S&P 500 WEEKEND UPDATE
  

NIFTY Hidden trend line

• Nifty daily chart with the broken trend line
• Price is not able to sustain above this hidden trend line.
• For bulls if they are not move towards 200 DMA they have to stay above this trend line.
• Staying below it will favor bears.

BANK NIFTY Analysis

• Bank nifty near 200 DMA and the trend line.
• It will find it tough to cross the confluence of resistance.
• If it manages to cross this level then the next logical target would be the 50% Fib level shown in 2nd chart which is 11660 level.
• Indicators in daily time frame has reached overbought levels which can give some negative or sideways action before the next up move.
• NIFTY WEEKEND UPDATE
  

DOW JONES Weekend Update

• Weekly charts shows Bullish medium term out look.
• But the Volume and overbought stochastic is showing some hope for bears only if price confirms by showing some negative price action. 
• Price is expected to hit the upper Bollinger band in weekly time frame soon. A minor hurdle at around 12658 if price sustains above this level price will hit the upper Bollinger band.
• S&P 500 WEEKEND UPDATE
  

S&P 500 Weekend update

• From the above charts the conclusion is that price is moving towards 1370 level.
• Next small hurdle in daily chart is 1344. Above 1344 price will test 1370.
• Weekly stochastic is favoring bulls. Stochastic in daily chart is highly overbought which can result in a correction.
• As long as 1300 is protected on closing basis by bulls price will continue to move up.
• RESISTANCE LINE OF AMAZON
  

NIFTY Weekend update

• Nifty after breaking out above 5604 is giving confusing signals.
• But the above charts suggest a trade between 50 and 200 Day Moving Averages. 
• A bigger move can be expected when either of these levels get violated.
• For levels one should watch out 5604. If price stays above this level Bulls are clearly strong. They should cross 200 DMA @ 5750 and head higher.
• Closing below 5604 will favor bears.
• DOW JONES WEEKEND UPDATE