ES Near resistance line

CHART-II

• Support areas for ES is at 1327.75 and 1322.22
• Resistance line mentioned below has given good correction. Break of 1327 level may push price down to 1322 area.

CHART-I

• ES Four hour chart near its resistance line
• Breaking above the line will continue the up move.
• If price looses momentum we can see a correction.

ES Bearish engulfing pattern

• ES Four hour chart has given a bearish engulfing pattern at the top.
• If support levels gets broken we can see an extended correction.
• Main support lies near 1322
• Trading above 1332.50 will negate the bearish engulfing pattern.

NIFTY Daily analysis

• Nifty has multiple resistance in daily chart.
• Fib resistance of 38.2 at 5562
• 200 dma and 20 dma. Price is already facing resistance at 20 dma.
• Weekly chart is showing resistance at 5530