Stock Market Chart Analysis

February 21, 2018

ES Week chart shows the broad range between 2620 - 2760. Price near the top of the range. Price will remain negative to neutral within this range.
Immediate support zone for the day is 2700 - 2705. Break below this means a trending down swing in hour chart.
Price remaining below the hourly cloud will favour a down swing in this time frame. Negative below 2700 - 2705. Bulls may also use this price zone to do an Intraday bounce.

Nifty daily chart shows the small candle just below 100 SMA. Twice in the recent past this price action was followed by good up move. But this time price is trying to consolidate after a big correction, which is good for bears.
If price stays below 10276 then 200 Day SMA is possible.
Weekly chart shows price below 20 Week SMA. Bulls must try to get back above this moving average to avoid bigger falls.

State bank of India month chart shown with crucial support resistance levels. Price is in a big range between 150 to 330. Chart shows crucial support zone at 240. Bigger weakness for the stock only if 240 levels are broken. Till then bulls are safe to do a bounce. Look for bounce trades only when price reaches 240 levels.

APPLE Month chart shows price moving into resistance zone.
Weekly chart is showing big momentum in favour of bulls.
Only time frame that's giving some hope for bears is the Daily one which has a Pin Bar candle. The placement of the PIN BAR is not ideal. It will be good always if the PIN BAR forms above the previous candle, But still if price closes lower on Monday a bigger correction may start.
ES Weekend update

ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
Hour is in a nice bullish channel. If channel lines holds bounce will extend.
My Preferred view will be to look for a close below 50 SMA to go short.
ES Hourly bullish "W" Pattern

Nifty falling back to its 100 Day SMA again. Another test of this line may work in favour of bears to close below it. Then price may fall to the 200 SMA. Bigger trend or the Daily trend will not change unless price close below 200 Day SMA.
Week has closed right at 20 Week SMA. Difficult to know the direction from here. A bigger bounce may happen or a breakdown below 100 SMA is also possible.