S&P 500 futures before opening bell

CHART-II

• S&P 500 has made a negative break down in hour chart. Negative for the bulls.
• Things are looking good for the bears as of now

CHART- I

• S&P 500 Futures hour chart with a pennant formation.
• When a pennant occurs in up trend it is called as a bullish continuation pattern.
• The rules of the pattern suggests upside breakout from here. Let's wait and see how this one goes.
• SPY WEEKEND UPDATE

Broken channel

• The trend line of the broken channel acting as resistance.
• Up move is possible only if NF comes back into the channel. Till then the broken area will act as resistance.

Nifty Intraday Update

CHART - II

• An Up move is possible only if NF trades above 6057.
• Trading below 6042 will be negative for the bulls.

CHART-I

• NF is showing a high of 6091 and a low of 6058.
• Below 6058 NF may try to fill the Gap.
• Above 6072 NF will get closer to the day's high at 6091.

RELIANCE INDUSTRIES analysis

• Reliance has given a spinning top near the support area of 993. If this level holds we may see a rally towards 1030.
• The stock has also done a breakout above 50 DMA and a classic retest of the DMA, This should be followed by a rally to break the recent high made.
• Above scenario possible only if Reliance trades above the range of 993 - 1007. Below 993 it will favour the bears.
• INTRADAY LIVE CHART FOR RELIANCE INDUSTRIES
  

NIFTY climbing to the top

• First chart shows Nifty's steady climb to the top. As i have said in the chart it seems the top or the destination is not yet reached.
• Second chart shows the amount of profits someone would have made if he or she had decided to trail his position with 5 day low ema. As i said in the chart if 6037 breaks today, the meeting of nifty and 5 day low ema will get extended.

STOCK CHARTS POSTED DURING WEEKEND

• ANALYSIS ON STATE BANK OF INDIA
  
• TATA CHEMICALS ANALYSIS
  

Russell 2000 Weekend Update

• Russell 2000 had good resistance at 670 region.
• This area happens to be the 50% retrace level for the index.
• On Friday the index made a good close above the 50% Fib level.
• Now if the index manages to trade above 670 it should target 685 and 695 as targets.

AMAZON Breakout

UPDATED CHART

BELOW CHART POSTED ON 21ST SEPTEMBER

• Amazon had good resistance at 151 as shown in the weekly chart.
• It crossed the resistance on 21st of this month as shown in this POST.
• Stock closes near its high last week. So the momentum can take the stock to more high's during next week.