- Nifty one hour chart shows price in a consolidation. Recent consolidations during this up move has resulted in upper breakouts.
- Price testing Hourly ichimoku cloud. Price falling below the cloud may turn the trend in this time frame.
- Weakness below 5843 and 50 Hour SMA.
- SBI Continue to show weakness at golden ratio. Further fall only if price closes below 50% Fibonacci level.
- Support levels are 100 Day SMA and 5 Week High EMA.
- Weekly close below 5 Week High EMA will resume the fall.
- TATA MOTORS CAHRT ANALYSIS
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- Tata Motors is sustaining above the channel in daily chart.
- Price has closed above 100 day sma. Sustaining above this level will lead higher targets.
- Immediate resistance at 78.6% Fib level. For bigger up moves price must trade above 78.6% Fib level.
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- Hewlett Packard Weekly charts shows price testing the up trend line.
- Price is also at 38.2% Fib level and Near 20 Week SMA.
- If these levels held we may see an up move towards 100 Week SMA. For a bigger up move Price must sustain above 100 Week SMA. Correction will extend if price closes below 20 Week SMA.
- S&P 500 WEEKEND UPDATE
- APPLE WEEKEND UPDATE
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