Nifty support and resistance levels

• Nifty bears failed to take price below 20 Day SMA. Weakness only if price moves below the rising support line shown in first chart.
• Next hope for bears is the golden ratio shown in last chart. Bulls need to clear this for bigger up moves to follow.

NIFTY Chart analysis

• Correction seen after negative divergence with MACD Histogram and price. Chart 2 and 3 shows possible support zone which should be broken by bears to extend gains. Unable to move below 20 SMA should favour bulls.

ES Chart analysis

• ES one hour testing the cloud.
• 4 Hour chart shows price pausing at previous resistance zone.
• Daily chart is out of the range But price is pausing near the recent high's. Weakness here may take price back into the daily range again.

Bank nifty trend update

• First chart shows how bulls avoided a Death cross from happening with a powerful reversal from 17174 level. This up move is still intact but price is showing signs of weakness which is not confirmed yet. Weakness is seen at the Golden ratio along with negative divergence in MACD Histogram.
• Bears need a daily close below 18860 levels for a possible extension of weakness. 

BIDU Chart analysis

• Bidu weekly tries to re-enter the bearish pattern from which price gave a breakdown.
• Daily can confirm a reversal only if price is able to sustain above the falling resistance line and 200 Day SMA. Bearishness near the down trend line may result in another fall. 

Nifty chart analysis

• Last chart shown with the MACD Histogram shows Developing negative divergence. Price also near the Golden ratio for the fall from 9119 levels to 7940. First chart shows price hanging around a possible support resistance zone. So the current levels are crucial Break above it may give bigger up moves. More weakness here may result in correction towards 8300 and 8200 levels. 

CRUDE Oil chart analysis

• Crude oil trading in a broad range and price trading on the bearish side of the range. But crude oil bulls are looking at possible support in golden ratio shown in weekly time frame and the support zone in one hour chart.