ES Update

• ES 4 Hour cloud continue to act as stiff resistance
• One hour cloud is acting as support for now
• Last chart shows price trying to stay above 38.2% Fib level.

S&P 500 Futures chart analysis

 

• ES 4 Hour time frame shows weakness near Ichimoku cloud. This level and 80% Fib level needs to be cleared for bigger up moves to happen.
• Price staying Below golden ratio or the Hourly cloud may lead to bigger weakness.

TCS Chart analysis

• TCS Weekly chart shows price near previous resistance zone which may continue to act as support
• Daily chart is testing 200 SMA. Staying above 200 SMA will favor bulls.
• Bears need price to sustain below 200 SMA for bigger correction to happen.

NIFTY Chart analysis

• Nifty tying to hold above 100 Day SMA.
• Another dip below the ichimoku cloud did not result in follow up selling. Bears need to keep price below the cloud for bigger falls to happen.
• Last chart shows a possible triangle contraction pattern. closing outside this pattern may result in bigger moves.
• NIFTY 50 STOCKS FREE LIVE CHARTS

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