- APPLE Daily chart shows a bullish Engulfing pattern which will be effective only on price closing above 423.5 levels today with High Volume
- Price has managed to close above 20 Day SMA. Sustaining above this line will help bulls to move higher. Weakness on price trading below this level.
- One hour chart shows price still in a range. Any weakness near 423 levels may lead price lower towards range bottom.
- ES CHART ANALYSIS
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- ES 4 Hour chart shows price testing crucial resistance area between 1645 - 1650.
- Hour chart shows immediate support and resistance levels.
- Bank Nifty daily chart is trying to move up after forming a Hammer Candlestick pattern. But price has to cross 5 Day High EMA and 20 Day SMA on closing basis for a bigger up move to happen. Unable to cross these levels may lead to weakness.
- Weekly chart is trying to form a base, Here price has to move above the weekly cloud soon to avoid a bigger fall.
- Weekly stochastic is looking good, Price has to make a Higher Close for a bullish cross on stochastic to happen. Reversal is yet to confirm for this setup.
- Gold gave a breakout from the triangle in four hour chart. Price is now retesting the triangle resistance line which may act as support for this correction.
- Fib levels shows resistance at 38.2% Fib level which must be crossed for a bigger up move to happen. Weakness on price falling below 23.6% Fib level.
- Strength on price closing above 50% Fib level and 423 level.
- Weakness below 50 Hour SMA and Hourly cloud.
- ES nearing its resistance level in daily chart.
- Sustaining above 50 Day SMA should lead to a breakout above the resistance level shown in first chart.
- Fib levels shows price between Golden ratio and 78.6% Fib level this area is a possible reversal level so Bulls must move above 78.6% Fib level sooner to avoid a correction.
- INTEL CHART ANALYSIS
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- SBI Testing crucial support zone in weekly chart.
- Weekly indicator is in oversold zone but price shows no reversal yet.
- For the daily strength above yesterday's High(1881) and previous support of 1892. Weakness on sustaining below 1850. Trend in daily chart will weaken only on price closing above 5 Day High EMA Which is currently at 1929.
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