October 11, 2017

ES one hour chart update

  • ES Hour continues to be in a range.
  • Hourly cloud acting as support for ES Bulls.
  • If the Cloud does not break on closing basis A Bullish move out of the range is possible. Break below 2541 can give 10 to 15 points on the Down side.

NIFTY Chart update

  • Nifty Week shows price in a 450 Plus range. Weekly MACD Has a sell signal. So any up swing inside this range should be watched cautiously.
  • Hour up swing is getting tested.
  • Up move may resume if price gets support at 30 Minutes cloud. Otherwise a bigger correction is possible.
  • NIFTY Weekend update

NIFTY Hour and Weekly charts

  • Nifty hour shows a steady up move.
  • Up swing will be safe till price stay above 30 Minutes cloud.
  • But bulls must be cautious as the current up move is happening against the MACD Bearish cross in Weekly chart