September 30, 2015

S&P 500 Futures trend update

  • ES nearing crucial support zone. Weekly trend line is broken but the bullishness will remain till price break below the shaded support zone shown in 2nd chart. Price staying below the weekly cloud will also keep the bears interested.
  • Resumption of the major trend if price moves back above the weekly cloud.

Nifty support and resistance levels

  • GAP and range high near 8100 levels will remain strong resistance levels. Supports are 100 Week SMA and 38.2% Fib level in month chart.

September 29, 2015

Tata Steel trend update

  • Trend of tata steel remains strongly in favour of bears But for bulls there is hope in 190 levels. Month chart shows price holding on to this level so far But there isn't any signs of strength yet which is a sign of worry for bulls.
  • There is positive divergence but the bounces are small and new lows continues to be formed. 190 levels if not protected will be big negative event for bulls of Tata steel. 

September 28, 2015

Gold daily Triangle pattern

  • Gold daily shows a triangle pattern. Volatility likely to increase as price is likely to move out of the triangle soon. Price sustaining below 200 SMA will favour gold bears. Any bullish moves are likely to be small as price in weekly chart is trading close to the cloud which has been acting as strong resistance for many months now.

Tata Motors trend update

  • Tata Motors daily chart continues to give new lows and staying below the cloud. no possibility of a bigger reversal till price stays below daily cloud.
  • There is hope for a reversal as price nears monthly cloud. But that will remain a hope till we see a monthly bullish candle at this level.
  • Weekly chart shows price testing crucial support zone at 300. Below this level bigger corrections are possible. Bulls need to stay above this zone.

September 27, 2015

Facebook Trend update

  • Facebook daily shows a bearish possibility. MACD shows a possible bearish cross in the making which may give a correction.
  • Weekly trend continues to remain intact above the cloud. Few weeks back the cloud was tested but it acted as strong support. So unless break below weekly cloud bigger corrections will not happen.

APPLE Weekend update

  • Apple near resistance levels in daily and weekly time frames. For apple bears price needs to stay below 50 week sma.

September 25, 2015

S&P 500 Futures Technical analysis

  • ES Daily in a small range between 23.6% And the golden ratio.
  • Week is consolidating below 50 Week SMA. As long as price stays below this line there is a chance of a bigger fall in favour of bears.
  • Month chart shows the possibility of a fall towards 1500 - 1600 zone if price breaks below 23.6% Fib level. 

September 24, 2015

Nifty trend update

  • Month is bouncing from 38.2% fib level as shown in 3rd chart, Only below this level bears can hope for bigger down moves to happen.
  • For the up trend to resume price must move above the weekly cloud.
  • Immediate resistance shown in first chart the GAP between the golden ratio and 50% Retrace level.

September 23, 2015

Apple Under cloud

  • Apple daily continues to stay below daily cloud.
  • Immediate resistance at golden ratio which is around 117 levels.
  • Month chart shows a topping pattern. weakness below 107 levels. Below 107 price likely to test 92 levels again. Structure will remain bearish below 122 levels.

September 22, 2015

EURUSD Chart update

  • Month chart shows previous support acting as resistance.
  • Weekly chart has cloud as resistance.
  • Pattern is a basing formation in week and daily chart but the above mentioned resistance levels will make it hard for bullish moves to happen.

Netflix bearish price action

  • Netflix month chart shows a bearish possibility. If the current month closes here or lower can confirm further bearishness in chart.
  • Trading below 90 and 85 levels can take the stock towards 70 levels. Daily too looks topish.

Bank of America in a range

  • BAC Weekly in a range between 14 and 18 levels. Daily chart shows the 200 SMA as the middle of the range. Price for now is in the bearish side of the range. Daily is moving between 23.6% and 50% Retrace levels. 

September 21, 2015

Gold trend update

  • Gold weekly continues to favour bears. Till price stays below the cloud and the falling resistance line there will not be bigger up moves. Staying below the weekly cloud new lows are possible

ES Chart update

  • ES Weekly and daily charts with immediate resistance levels. Crucial resistance level for bulls to cross above is 50 Week SMA. Till price stays below this level bears can hope bigger falls.

TCS Monthly triangle pattern

  • TCS Month chart shows a triangle pattern. Price need to close outside the boundaries of the pattern for bigger direction to happen. Bearish move must break below the weekly cloud for bigger falls to happen.

USDINR Trend update

  • Weekly chart shows weakness but staying above the weekly trend line will keep the bullishness of the pair intact.
  • Month chart shows a possible double top kind of pattern But the current month candle need to more on the bearish side and close lower for the bearish set up to confirm.

September 18, 2015

SBI Chart analysis

  • SBI Month chart shows good bounce so far. Month closing like this or higher may extend the up move. 
  • 2nd and 3rd charts shows possible resistance levels for the current bounce.