CRUDE Oil chart update

• Crude oil 4 hour chart shows price holding above crucial support zone. Weakness only if price sustains below this zone.
• More strength for bulls if price sustains above 200 Day SMA.

TATA Steel Chart update

 

 

• Tata steel bearish price action. Staying below 50 day SMA will continue to favour bears. Next level to watch is 333. Minor strength if price is able to get back and close above 50 day SMA. Bigger falls possible if 333 is not held.
• Weekly candle looks bearish. Bulls need to change the structure of the candle but they have only one session. Price if closes at the current levels or lower will lead to more falls in the coming weeks. 
• Chance for bulls to come back is above 351, More strength for bears below 333.

ES Chart update

• ES one hour and 4 Hour chart shows bulls hanging on to crucial support resistance zone. Bears need to close below this zone for bigger correction to follow.

Nifty support and resistance levels

• Price is moving up steadily but its approaching crucial resistance zone 8505 - 8550. Immediate support zone is at 8332 level.
• RSI is has not reached overbought zone and price too yet to shown bearish price action.

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SILVER Weakness at weekly cloud

• Silver weekly chart shows weakness at the cloud.
• More strength for silver bulls if price falls below 200 Day SMA.
• 4 Hour chart shows retrace levels as immediate support zones.

ES IHNS Update

• The IHNS Breakout continues to stay valid. Bears need to fall below the yellow shaded zones in first chart to question the validity of the pattern.
• One hour is testing the rising support line. 100 Hour SMA too is crucial for bulls to stay above to continue the momentum. 

Bank nifty chart update

• Bank nifty bulls needs to close above 50 day SMA and 38.2% Fib levels to extend this bounce.