May 22, 2014

ES Chart update

  • Price nearing recent High's
  • Weakness for the day only if price starts to trade back below 78.6% Fib level.
  • 30 Minutes cloud may also act as support.

FACEBOOK Triangle update

  • Facebook one hour chart shows price above the triangle pattern.
  • 4 Hour chart shows 100 period SMA as next obstacle for Facebook bulls.
  • Price is staying above the 4 hour cloud. closing above 100 period SMA may extend the up move.

S&P 500 Futures chart update

  • ES 4 Hour chart with fib level shows price getting resisted at 78.6% Fib level.
  • More importantly price is trying to stay above the crucial resistance zone of four hour chart.
  • One hour chart shows the resistance zone and fib levels as immediate support zone.

NIFTY Intraday update

  • 5 Minutes chart shows trending move favoring bulls. 
  • 15 Minutes and 4 hour chart shows possible resistance levels for the up move.
  • Bears need to break the 5 Minutes trend line for a possible reversal to happen

TCS Chart analysis

  • TCS Trying to move back above its 200 Day SMA.
  • Price did not break below the weekly support zone between 1970 - 2011.
  • Price also took support near the weekly cloud.
  • Bullish for the stock if price is able to close above 200 SMA again. Bearish only on closing below 1970 levels.