December 12, 2017

ES One hour Trend update

  • ES Bulls continues the bullish move in a Bullish channel. 
  • Moving averages too shows no weakness for the bullish alignment.
  • Weakness for Hourly bulls only if price starts to trade below 50 Hour SMA.

NIFTY Chart analysis

  • Nifty daily is in a bearish channel. This could change to a Bullish flag as well.
  • Weakness may resume if price falls below 20 Day SMA.
  • Week took support at 20 Week SMA to avoid major weakness. Now major trend will resume if price sustains above 10400 levels.