Nifty intraday Update

• Nifty Hour is getting resisted at 200 Hour SMA.
• Bulls need to close above 200 Hour SMA for continuing this up move.
• Price staying below 4730 will favor bears.

CNX IT Weekly chart

• CNX - IT Weekly chart with Horizontal resistance line and a falling resistance line which should act as resistance if this index gets there.
• Price should also sustain above 50 Week SMA Which is around 6300 for this up move to sustain and move towards the weekly falling resistance line.
• CNX IT LIVE CHART
  

NIFTY Analysis

• Nifty Moving up towards 4800 and the resistance line of the falling wedge.
• Bull will be tested near the resistance line if they get there because of  important levels like 38.2% Fib level, Week High EMA at 4857 Etc.
• Resistance line itself is around 4850 for today
• S&P EOD ANALYSIS
  

S&P 500 Analysis after closing bell

• Ascending triangle formation of SPX is showing a breakout. 
• Price has to stay above 1277 and 1292 levels which may act as resistance now.
• 50 Day SMA is rising towards 200 SMA for a bullish cross over to happen. For this the current resistance level 1292 has to be taken out easily. Failing to move above 1292 may give a bearish trade. Price closing below 200 SMA will be the first sign of weakness.

SILVER Support and Resistance levels

• Silver is bouncing from the recent low 26.02. Bigger correction only if price trades below this level.
• For a bigger up move to happen price has to sustain above 100 week SMA and the dotted resistance line.

CRUDE OIL Weekly Resistance levels

• Crude Oil Weekly chart is moving towards a resistance band of 104 - 105.
• If price hits 105 level it will be an opportunity to sell. Risk reward ration will favor bears of crude oil near the weekly resistance level.

NIFTY Resistance levels

• One hour chart shows 200 Hour sma at 4785
• Resistance in Four hour chart is at 4800 then the falling trend line which might act as resistance.