APPLE Tests 50 Day Moving Average

• First chart is the apple daily chart with 50 day moving average. Price has violate 50 day moving average after many months. So the initial fall will be backed by some buying. If price manages to close below 50 dma things will favor bears.
• Hour chart too has violated the cloud in four hour time frame after a long time. If price manages to close below the cloud this too will favor bears.
• ES FIBONACCI LEVELS
  
  

ES Fibonacci levels

ES WEEKLY CHART WITH FIB LEVELS

• ES Weekly chart shows price violating 23.6% level.
• If price makes a weekly close below this level We will see 1210 - 1220 level which is the 38.2% fib level in weekly chart.
• ES DAILY CHART ANALYSIS
  
  

ES Trend line break

ES DAILY CHART WITH TREND LINE

ES DAILY CHART WITH DMA

• ES Daily chart is about to give a bearish cross. 20 day moving average crossing below 50 dma will turn the trend completely in favor of bears.
• Trend line break in daily chart looks convincing. 1292 level will act as resistance now.

Nifty Daily Analysis

• First chart shows the likely resistance lines for nifty in daily chart.
• Price is also approaching its other resistances like 38.2% Fib level and the 50 day moving average.
• So further upsides will be possible only if nifty manages to stay above these crucial levels.