April 18, 2011

ES Hour chart analysis

  • ES Hour chart show1319 as resistance level.
  • 200 Hour moving average also shows a bearish alignment.
  • 1298 is the next level for bears to break.
  • IWM WEEKEND UPDATE

Nifty Daily Analysis

  • Daily chart is shown with a possible support and resistance line.
  • Fibonacci chart of weekly time frame shows price not able to close outside 50% and 61.8%. So closing outside this range can give good direction.
  • 3rd chart shows weekly trend line resisting nifty. But stochastic has not reached over bought levels So a sell is not yet confirmed.
  • CNX - IT CHART ANALYSIS