ES Hour chart analysis

• ES one hour chart shows immediate support at 50 Hour SMA. Price falling below 2529 and 50 Hour SMA will favour bears for the day.
• Trend change in hour will happen only if price falls below the cloud.

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Bank nifty technical analysis

• Weekly chart of BN shows bears trying to form a Top. Price need to stay below 23800 levels on weekly closing basis for bigger corrections to follow.
• Closing the week below 20 Week SMA Line may also strengthen bears. So BN bulls need to stay above both these levels.
• One hour chart shows a bullish inverted head and shoulders pattern. Last chart shows the bullish pattern and price positioned below the cloud which is bearish. Price moving below 24000 will favour bears in hourly chart. Hour will turn bullish above the cloud...
• NIFTY Weekend update

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