ES Trend update

• ES continues to trade below 50 Hour SMA and Ichimoku cloud in hour time frame.
• Daily need to stay above 200 SMA for a turn around to happen.
• Price sustaining below 200 SMA and breaking last week's low could give another breakdown.
• SPY WEEKEND UPDATE

MCX Copper Chart analysis

• All three time frames have changed positive.
• Buy signal is not yet confirmed in daily chart.
•  A Higher close today will add strength for bulls of MCX Copper.

USDINR Chart analysis

• USDINR Weekly chart is showing negative divergence with MACD Indicator.
• But Month chart is showing a breakout above the multi year Resistance line. Bullish traders of this pair need price to sustain above this resistance line on month closing basis for bigger up moves to happen.

NIFTY Chart Analysis

• For bulls a daily close above 5 day high EMA should result in a bounce. 
• Weekly chart shows price bouncing from Lower bollinger band. If last week's lows are held then a channel is likely to play out as shown in the last chart.
• Crucial resistance levels if nifty decides to move up are 
• 5 Day High EMA 4934
• 5 Month Low EMA 4937
• 5 Week Low EMA 4975
• SBI CHART ANALYSIS

SPY Weekend update

• SPY near an important support resistance line. Price has bounced from this line in the recent past. There is also a chance for a bigger breakdown.
• Price is approaching lower Bollinger band and 50 Week SMA as shown in the weekly charts. If a consolidation happens at the current level without breaking below 50 Week SMA we may see a bounce. Trading below 50 Week SMA will favor bears.
• QQQ WEEKEND UPDATE

SILVER Weekend update

• Silver weekly chart is showing a weekly candle with long shadow. The support zone at 26 levels seems to have held for now. So an up move towards the falling resistance line of weekly chart is possible.
• Daily chart is moving towards 20 Day SMA and 23.6% Fib level which needs to be crossed on closing basis by silver bulls to extend this up move.
• Hour chart has to sustain above 20 and 50 SMA and the Ichimok cloud of one hour to sustain the up move. 
• QQQ WEEKEND UPDATE

SBI Chart Analysis

• SBI Gave good up move with increasing volume.
• MACD formation is also looking good for bulls.
• But price has to move above the all important 200 SMA for continuing this up move.
• 200 SMA AT 1986
• 20 Day SMA AT 2010
• BANK NIFTY WEEKEND UPDATE