Dow Jones analysis after closing bell

• The rally that happened after the death cross ends at the 200 DMA
• The index closes more than 2% below its 50 and 200 DMA's
• The next support will be 10000 below that the index will test at least 9900 in the short term
• Some drama has to play out if the index has to go above 50 and 200 DMA's in a hurry.
• THE ABOVE CHANNEL BREAK POSSIBILITY WAS SHOWN IN YESTERDAY'S END OF DAY ANALYSIS
  

Dow Jones Futures before opening bell

UPDATED CHART

• RIGHT NOW TRADING BELOW THE SUPPORT LINE.
• DAILY CANDLE CLOSE BELOW THIS LINE SHOULD GIVE GREAT JOY FOR THE BEARS.

• Dow Jones Futures 4 hour chart
• The index tried to go above 10360 area but faced resistance and came down.
• Now any upside targets are possible only on a strong break of this level.
• DOW JONES ANALYSIS AFTER CLOSING BELL

Nifty futures support line

• Nifty futures support line in daily chart.
• Break and close below it will strengthen the bears.

Nifty 30 minutes line chart

UPDATED CHART

• At present nifty is trading in a neutral area with daily trend up.
• But closing above 5400 can give another push towards 5450.
• And close below 5360-5350 will be the first warning for the up trend.

Nifty 10 minutes chart with a flag

• FLAG in 10 minutes chart.
• This one is a bear flag but since it has come at a small time frame the failure rate is very high.
• We had a similar bear flag yesterday in U.S Markets which broke on the upside

State Bank Of India support and resistance

• The resistance and support lines for SBI has been working well.
• For SBI if the stock breaks out and closes above 2505 will give good upward momentum.
• But as of yesterday the stock got resisted at the top, so may go into correction mode for some day's.
• The trend line support also looks quite strong. As the stock has respected it so far a breach of the trend line could lead to a large correction.
• BANK NIFTY ANALYSIS

Bank Nifty Chart analysis

• Bank Nifty is showing a break out from resistance.
• Now it has started to  retrace to the break down point.
• Don't try to enter at higher levels. Have clear entry points like Break of yesterday's high during intraday for going long. If your entry signal does not come skip the trade.
• STATE BANK OF INDIA TECHNICAL VIEW