August 29, 2011
- ES Hour is staying above 50 Hour moving average and cloud.
- Important numbers for today are 1188.50 and 1206.25
- One the way down it is the 50 Hour moving average.
- Price for now is in the bullish area But it remains inside the trading range. Trending move will happen after the range breakout.
- S&P 500 WEEKEND UPDATE
- MSFT BUY SIGNAL
- TRIANGLE OF US DOLLAR
NIFTY HOUR CHART
- Having crossed the 50 Hour moving average if nifty manage to close this day above it bulls may target 4946 and 4965 levels. Bulls shall stay above these levels for changing the bearish structure in hourly chart.
- Nifty spot is moving towards the 50 Hour moving average line.
- Bulls have tired and failed many times at this level.
- They have to an hourly close at least to show some strength.
- SBI is testing important support level.
- Support level is between 1868 - 1905.
- There are no reversal signs yet so we have to wait and see if we are going to see a reversal candle here.
- The channel of SBI shows some more down side for the stock before it can hit the bottom support line of the channel.
- If it hits the channel bottom we can definitely see a reversal trade from there. If it is going to turn before hitting the support line then we have to look for daily reversal candles to initiate trade.
- NIFTY WEEKEND UPDATE
- BANK NIFTY WEEKEND UPDATE