GOLD Chart analysis

 

• Gold continues to trade below the resistance line and 4 hour cloud.
• Crucial support at 50% Fib level.

BANK Of America Analysis before opening bell

• Bank of America weekly testing confluence of support levels at 50 Week SMA, Lower Bollinger band and support and previous resistance at 15.03. Bulls of BAC are hoping for a bullish weekly candle closing above these levels for a possible bounce to happen.
• Weekly close below these levels may lead to bigger falls.
• APPLE BREAKING ABOVE RESISTANCE LEVELS

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AMBUJA Cements intraday update

• Ambuja cements 4 hour chart shows price testing crucial support zone. Closing the day below 197 levels will further weaken bulls of this stock.
• bearish engulfing discussed earlier continues to perform well.

BANK Nifty chart update

• Bank nifty pausing at weekly resistance levels till the news event is over.
• Price is likely to trade in a range in daily chart.
• 20 SMA is crucial, breaking below it can take BN towards the bottom of the range.

AMAZON Trend update

• Amazon weekly chart shows price violating the rising support line. Weekly close below this line may extend the fall. Amazon bulls hoping for a bullish weekly candle.
• Daily chart shows breaking support levels. 
• 4 Hour cloud may act as resistance on up moves.

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