- Infosys nearing crucial support zone around 900 levels. If not held on closing basis will take the stock towards the Rising support line shown in Month time frame.
- If 900 is held then stock will remain range bound in weekly chart and a move towards 1044 levels is possible.
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- ES Closed below 50 Day sma. Now bears need to break below 2330 levels for bigger falls to follow.
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- Daily chart shows a triangle contraction.
- Possible trend change on closing below the cloud. As its a triangle false spikes are possible before the bigger directional move can happen.
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- ES Daily shows price testing support zone. Daily has made another dip below 50 Day SMA. Bears unable to get that close below this crucial moving average. One has to see if bulls is able to make another up move to close back above 50 Day SMA.
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- Apple daily shows price trend above 20 Day SMA.
- Weekly chart shows possible bearish candle. This one needs confirmation.
- Weakness in daily on closing below 142.8 and 20 Day SMA.
- Bulls will remain strong above 20 Day SMA
- Convergence of 20 and 50 Day SMA shows that a breakout or breakdown is imminent. Levels to Watch on closing basis are 2365 and 2335.
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- Nifty week shows a negative candle. This needs confirmation though in the following weeks.
- Weekly chart also shows Negative divergence.
- But bears May not expect big returns unless price fall below 8900 levels. Month chart shows Bulls making New high's. So bears need price to fall back below 8900 levels on closing basis which will confirm the current move as just a spike above new high's.
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