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.