NIFTY WEEKLY CHART
- Nifty fall pausing at 50 Day SMA.
- Breaking day low and 50 SMA could fill the GAP shown in 2nd chart completely and may target 38.2% Fib level at 5188.
- For bulls price must get back above 23.6% Fib level to avoid a bigger fall.
- Shooting start shown in weekly chart has been doing well so far.
- TATA STEEL CHART ANALYSIS
- Tata Steel daily chart shows a Head and shoulders breakdown.
- Weekly chart shows price violating crucial support at 382.
- Bulls of tata steel badly need an intra week rally to close the week above 382.
- Next major support at 331 levels. 78.6% at 367 levels may act as a support.
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NIFTY WEEKEND UPDATE
- EURUSD Weekly chart continues to get resisted at 20 Week SMA
- Daily chart shows price moving up in a channel. There will not be big falls as long as price continues the up move in the channel. Holding the channel support line up move may continue to till 1.27 levels.
- Major resistance at 200 Day SMA.
- ES Four hour chart shows price contraction which may give a bigger move soon.
- Second chart shows the support and resistance levels.
- Last chart shows fibonacci levels and target areas.
- ES Daily chart with price inside a channel. Price is trading near the upper side of the channel.
- Closing the day below 20 SMA could extend the call.
- 4 Hour chart shows crucial support and resistance lines which has to be broken for a bigger move to happen.
- Silver hourly chart will continue to trend up on sustaining above 50 Hour SMA and Hourly cloud.
- Turnaround in daily chart too will be safe on sustaining above 200 Day SMA. Daily close below 200 day SMA may turn things in favor of Silver bears.
- CRUDE OIL CHART UPDATE
- Crude oil falling towards the support line of the rising wedge.
- Price is correcting from the golden ratio.
- Trading below 20 Day SMA and 93.22 levels would extend correction.
