October 24, 2017

ES Intraday update

  • ES One hour shows support at 2561 and 100 Hour SMA.
  • Immediate resistance at 50 Hour SMA.

ES Support and resistance levels (Hour chart)

  • Hour chart with immediate support and resistance lines.
  • Strength extends above 50 Hour SMA. Correction towards 2550 levels only if price closes below 100 Hour SMA.

NIFTY Intraday update

  • Bulls are safe above 10200 levels.
  • Bears need price to close below the GAP shown in chart 1. That is around 10100 levels approx. In-between its Neutral.
  • One hour shows 50 SMA acting as support for now. Close below this line may give the first signs of weakness.