Stock Market Chart Analysis

March 19, 2018

Nifty falls below 200 SMA.
Bears need a daily close below this line to strengthen their position. If an intraday bounce takes price back above 200 SMA then that will keep the hope of a bounce for bulls alive.
4 Hour chart shows a possible falling support line. If held an intraday bounce is possible.

Weekly triangle shows price nearing the apex off the pattern. Multiple attempts to close out off the triangle has failed with price getting back into the pattern. This may change in one or 2 weeks.
Second chart shows price testing the broken support zone.
Last chart has the falling resistance line from 1.60 levels. This has historically acted as strong resistance. Usually its an easy sell from here BUT when price tests a line too many times it can snap..

Bearish descending triangle in 4 hour chart has turned in favour of bulls for now.
Daily chart is yet to give a clear breakout from the contraction triangle as shown in second chart.
Equation is quite simple for crude bulls. Stay above 50 SMA on closing basis in daily time frame for bigger up moves to follow.

Price moving in a narrow range as shown in 30 Minutes time frame.
4 Hour chart shows the small range within a Larger Ascending channel. If the support line of the channel is held then price is likely to remain sideways to bullish.
Bears tried and failed 3 times to close below 50 Day SMA. If bears manage to close below this line then the channel support line will be tested.
AMAZON.com Descending triangle and Bearish engulfing

Amazon Hourly Descending triangle has resolved in favour of bears.
Now day must stay below 1578 for bigger correction to follow.
If day closes below 1578 it will add more strength for the Bearish engulfing in Daily time frame.
AMAZON Intraday update