- Nifty month shows bigger bulls continues to be strong. Bullish structure will remain intact till price stay above 9100 levels.
- Hour is trying to form a bearish Ascending broadening wedge. This is mostly a bearish pattern, The levels for weakness is shown in 15 Minutes chart.
- 15 Minutes chart shown with immediate support levels. Weakness starts below 9600 and 9560 levels.
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- Price having closed below 50 Week SMA is finding it hard to move back above this line. 50 Week SMA line and 200 Day SMA on daily chart may continue to act as resistance for the current bounce.
- Immediate strength and weakness can be seen in one hour chart. For now price is staying below One hour cloud which suggests strength for crude Bears.
- S&P 500 Testing resistance zone
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- Infosys week chart shows a possible bearish pattern forming. Since the Megaphone is forming at the top of an up trend this is likely to be a bearish one. Having said that price is trading close to a crucial support zone so a larger bounce from here cannot be ruled out.
- Bears will gain strength if the support line shown in second chart is violated on closing basis.
- Infosys bears also need to keep price below 200 SMA to keep the weakness intact.
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- ES testing resistance zone 2400 level.
- 2375 and 20 Day sma are immediate support levels. Bulls need to keep price above 20 Day SMA. Closing below this level may start a down swing.
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- Nifty weekly MACD shown the good smooth signals in first chart and the Second chart shows the challenging part of trading with MACD. The second chart shows choppy signals this is when trader should use other tools or techniques to select good trades. Trading with the trend or the current direction may help traders to select the right trades.
- Nifty daily yet to confirm weakness. Only once price moved below 20 Day SMA. Next close below this line may give bigger gains for Bears.
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- ES Daily chart testing the High's. Weakness only if price falls below 2375 levels. Closing below 20 Day SMA will also help ES bears with a correction.
- Bulls may continue the up run, in the same way the Double top possibility too exist. Bears may make a comeback below 2375, Bulls remain strong if price does not close below this level.
- GOLD Trend update
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- Gold 4 Hour and Weekly charts shows the current down swing. This could last till 1200 levels.
- Weekly chart also shows a possible Triangle contraction. If 1200 is not held on closing basis price may slide further towards the rising support line.
- CRUDE OIL Chart Update
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