SLV Breaks the trend line

• SLV has broken the trend line in hour chart.
• Price is trading close to 50 Hour moving average.
• If price gets support near 50 Hour moving average we may see an up move.
• Price breaking below 50 Hour moving average can give another correction.

ES Negative Divergence

• ES Hour and MACD is showing negative divergence.
• Now price has to help the bears as well. Price should confirm by giving a correction.
• Recent track record with Divergence has not been good. Most of the Divergence shown recently has not worked because price did not help. Lets see how this one goes

ES Near resistance level

• ES Hour chart shows resistance at 1337.50 level.
• ES Daily candle shows good upward momentum But price is approaching a cluster of resistance between 1337.50 - 1342.50.
• Unless the above mentioned level is taken out by the bulls price will continue to correct from current levels.
• SLV CHART ANALYSIS
  

NIFTY EOD Update

• Nifty hour is showing weakness at the top
• We have a Pin bar reversal candle which will put pressure on index.
• Price has again gone back into the range in which it was trading in for the last two days.
• Failing to cross 5913 will favor bears. Trading below 5857 will give another chance to go short.

RESISTANCE LINE OF SBI

• State Bank Of India daily time frame with Resistance line.
• Price is finding resistance every time it hits this resistance line.
• Price should stay above this line for good long trades to happen. Till then Stock will continue to fall from this level.

Nifty Intraday Update

• Nifty Hour chart is shown with Fib level for the rise from 5693 to 5913 level.
• Nifty Broke 50% and took support above 61.8%. More downside move can be seen if Golden ratio is broken.
• Moving passed 5830 may take nifty to the broken range that is near 5857 level were it will find resistance .

Nifty's Bullish Crossover

• Daily chart with 20 and 200 day moving average has given a bullish crossover. If price given an upper breakout we shall see nifty moving towards 6100 and above.
• Lower breakout may take it below 5500.
• Yesterday's Intraday pos Updated: CLICK HERE