Nifty Chart update

 

 

• Nifty bulls must move above the cloud and the falling resistance lie to avoid correction. Weakness may return if price starts to trade below 7400 levels.

Nifty support and resistance levels

 

 

• Nifty daily chart with immediate support and resistance levels.

GOLD Weekend update

 

• 4 Hour chart shows immediate support levels. Weakness if price starts to trade below these levels. 
• Weekly chart shows crucial resistance line. Gold bulls must sustain above this line for bigger up moves to happen.

CRUDE oil Bottom formation and Resistance levels

 

• Daily time frame is trying to show a V shaped reversal or bottom formation in crude oil. But price need to sustain above 38 levels and move above 200 Day SMA to confirm a bottom formation. Last 2 attempts at 200 SMA resulted in good gains for Bears. 
• One hour cloud acting as good support so far.

Gold Support and Resistance levels

• Weekly chart look strong as price sustains above cloud. 
• First chart shows strong support line of gold. current trend would become weak only if this line is broken.
• Immediate resistance level at 1300 levels.

ES Chart update

• ES Daily shows weakness at 200 Day SMA.
• 4 Hour chart shows immediate support levels. Weakness below 1966 levels. Up trend of this time frame will be challenged if price falls below 4 hour cloud.

Nifty trend update

• Nifty month chart is trading near the Down trend line and the up trend line. For the next big move price need to close above or below these lines.
• 2nd chart weekly line which shows weakness near 20 Week SMA. So for bulls price has to close and sustain above 20 Week SMA to avoid the trend.
• Daily chart is trying to stay above 50 Day SMA. Price closing back below 50 Day SMA will strengthen bears again.