- Nifty daily is moving towards crucial support resistance zone.
- As discussed earlier this zone is also the neck line of a Bearish head and shoulders pattern.
- Fib chart shows 7891 at 50% Retrace level.
- So bulls need to stay above 7890 to 7920 zone to avoid a bigger breakdown.
- GOLD Month charts
-->
- Nifty bulls will remain weak below 8057. Daily close below this level will strengthen bears further. So bulls need to get back above this level if they can to avoid further bearishness.
- 15 Minutes continues to trend strong in favour of bears below the cloud. 15 Minutes cloud gave a good sell entry yesterday as shown in the chart. Cloud works well in trending phase.
- NIFTY BEARISH PATTERN
-->
- ES bulls must hold above 50 period SMA and rising support line to avoid a correction towards the range support zone.
- Bears need price to stay below 50 Period SMA.
- Staying above these levels a breakout above 2072 levels is possible.
- GOLD Month charts
-->
- Nifty one hour near crucial support zone of 8057.
- If the above mentioned level does not hold then price will slip below 8000 levels again.
- 15 Minutes chart with cloud shows a trend. If price moves above the 15 Minutes cloud a reversal is possible from the Hourly support zone of 8057.
- NIFTY Bearish pattern and Support levels
-->
- Gold month chart shows a possible support line rising from 681 levels through 1046. This support line for this month falls around 1096 for this month.
- If this line is not held then price may test 1046 levels.
- 4 Hour chart shows strong trend below 50 Period SMA. No reversal or bounce in sight as price continues to get resist at 50 period SMA
- SILVER Month Chart
- Nifty Daily shows a bearish head and shoulder pattern. Before discussing the Targets of the pattern we should see the immediate levels first. 8056 level should be broken for the pattern to progress further. Below 8056 bears should be able to test 7916 level to complete the pattern formation. So First bears need to stay below 8056 for the pattern formation to progress.
- Rules of the pattern suggests possible 700 points on the downside approximately. Since the pattern is so obvious its questionable how its going to work. But i am just showing what's there on the chart. What bears need to see is the Death Cross and break below 7900 levels.
-
CRUDE Oil chart update
-->
- Immediate resistance for Facebook is at the falling 50 Day SMA. If price is able to cross this line on closing basis then a test of 123 and the GAP is area is possible. This area may act as stiff resistance zone.
- Support is near 113 levels.
- Moving averages is showing a possibility of a Death cross.
- For bigger moves price must resolve the range between 113 and 123.
-
CRUDE Oil chart update
-->
