Descending broadening wedge of QQQ

• QQQ Daily chart shows a descending broadening wedge. Pattern breaks mostly on the opposite side of the prevailing trend.
• Crucial support for qqq at 200 Day SMA.
• Resistance at Daily cloud and 50 Day SMA.

AMBUJA Cements Bearish engulfing and support levels

• Ambuja Cements daily chart shows a bearish engulfing pattern.
• Price has crucial support at 20 Day SMA and 205 levels. 20 SMA should break on closing basis for the bearish engulfing to work well.

SPY Weekend update

 

• SPY Weekly chart shows possible Bearish PIN BAR, But correction if happens is likely to be small because of the up trend line from 134 levels.
• Daily chart shows possible support at 20 day SMA and 38.2% Fib level.

NIFTY Weekend update

• Week and Daily charts candlesticks are showing some bearishness. Both these patterns need confirmation with follow up candles.
• Weakness can extend if daily starts to close below 20 Day SMA. Rising up trend line shown in last chart is also crucial for bulls to hold above.

CRUDE Oil chart update

• Crude oil daily chart near crucial support levels. Price near golden ratio and daily cloud.
• Hour is still falling in a channel. Breaking above this channel may lead to a reversal.

ES Chart update

• ES Hour charts looks weak as price falls below Hourly cloud.
• Next crucial support at 20 Day SMA.

TATA Steel Inverted head and shoulders

• Tata Steel daily chart is nearing crucial resistance zone between 431 and 435
• Weekly time frame has a Bullish Inverted head and shoulders pattern.
• For the Immediate term price has to stay above the up trend line shown in chart to avoid a short term correction. Longer term charts looks bullish. 
• ADANI POWER CHART ANALYSIS

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