Bank Of America Support and resistance

• Bank of America Daily chart shows price contraction which should result in a big move soon.
• Presence of 200 Day SMA should favor bulls for an upper breakout.
• Weekly chart shows middle bollinger band as crucial resistance point.

ES Chart analysis

• ES One hour moving into resistance levels.
• Hourly cloud and resistance line should favor bears for a pullback.
• Four hour chart shows price getting support near 200 period SMA. If the resistance line of the channel is unbreakable we should see a bigger fall below 200 period SMA.
• Bulls need a channel breakout for a long trade towards 1355 levels again.

NIFTY Diamond pattern

• If the Rising wedge performs well it may lead to a diamond pattern which should give a correction towards the support line of the diamond pattern.
• If the wedge fails to perform Diamond may not happen or we have to redraw the pattern.
• For bears they need to stay below 20 SMA and the GAP area shown in above charts.
• INFOSYS CHART UPDATE

INFOSYS Chart update

• Infosys daily gives another GAP.
• Price falling from a bearish flag pattern.
• Weekly support near 2160 has to be broken by bears to extend the fall. Price sustaining above 2161 should give an up move for the stock.