March 17, 2018

ES Chart analysis after closing bell

  • Price moving in a narrow range as shown in 30 Minutes time frame.
  • 4 Hour chart shows the small range within a Larger Ascending channel. If the support line of the channel is held then price is likely to remain sideways to bullish.
  • Bears tried and failed 3 times to close below 50 Day SMA. If bears manage to close below this line then the channel support line will be tested.
  • Descending triangle and Bearish engulfing Descending Triangle and Bearish Engulfing

  • Amazon Hourly Descending triangle has resolved in favour of bears.
  • Now day must stay below 1578 for bigger correction to follow.
  • If day closes below 1578 it will add more strength for the Bearish engulfing in Daily time frame.
  • AMAZON Intraday update

March 16, 2018

ES Chart analysis before opening bell

  • ES 4 Hour charts with immediate support and resistance levels.

Bank nifty Daily and hour chart update

  • Falling 200 SMA is a concern for Bulls in one hour chart. For the day price has to stay above 50 Hour SMA or bigger correction is possible.
  • Daily shows bearish price action at 24800 levels. Bulls need to cross this level to avoid correction.
  • NIFTY Intraday update

NIFTY Intraday update | One hour charts

  • Bulls unable to cross above 200 SMA was negative for the bounce. 
  • Now breaking below 10320 and 300 levels will add strength for bears. More strength for the day if price sustains below 10280 levels.
  • For Intraday bulls price must get back above 50 Hour SMA to regain today's lost ground.

March 15, 2018

AMAZON.COM Intraday update | One hour charts

  • One hour shows a possible descending triangle with support at 1578. Price tested the level earlier and Bulls managed to stay above it. If it gets tested again bigger falls are possible. 
  • Hour close below 50 Hour SMA will give more momentum to Amazon bulls.
  • Bearish engulfing

ES Chart analysis before opening bell

  • ES 4 hour charts with crucial support levels.
  • Bearish for the day if price falls below 2740 - 2745 levels.
  • Bulls safe till price hold above the cloud in 4 hour time frame.

CRUDE Oil Descending triangle | Daily cloud update

  • Crude oil staying below the cloud will favour crude bears, But price is not showing any momentum for bears.
  • 4 Hour chart shows a descending triangle. This pattern is mostly bearish But can go in the opposite direction as well.
  • Bears need price to fall below 60 levels for a bigger down swing to follow.
  • Bullish above 61.60 and bearish below 60 levels.

AMAZON.COM Bearish engulfing | One hour charts

  • Amazon daily chart has a bearish engulfing pattern. As of now there is no momentum or followup price action for bearish engulfing.
  • Bigger weakness for the stock only if price starts to stay below 1578 levels. Bearish engulfing will stay intact till 1617 is not taken out.
  • Hour as of now is looking weak at the top.

ES Chart analysis after closing bell

  • Bearish PIN BAR continues to give good results for bears. Next stop is at the 20 Day SMA. Bulls is expecting a bounce at the 20 Day SMA. If 20 SMA does not give support then price may fall towards the 100 SMA as shown in chart 2
  • 4 hour chart shows a possible channel support line for the correction. 

March 14, 2018

NIFTY Resistance zone | 4 Hour Ichimoku cloud update

  • NIFTY Day shows price stopping at 100 SMA for now.
  • 20 Week SMA and 4 Hour charts doing the same for Nifty bulls.
  • Bulls need a weekly close above 20 Week SMA Failing to do so may result in a fall towards the lower bollinger band, Which means another test of 200 SMA.
  • One positive for bears is that if too many feel the resistance is strong then the counter trade is possible.

ES PIN BAR and 50 Day SMA | One hour cloud update

  • PIN BAR at the upper bollinger band is followed by a bearish candle. But it was not easy for bears, The long upper shadow of the Daily candle did hit some stop losses.
  • Now bears need follow up by breaking below 50 Day SMA. For a bigger bearish swing to happen price must fall below 50 Day SMA on closing basis.
  • One hour is trying to protect cloud base. More weakness for the day if price stays below 2762 levels. 

Bank Nifty Channel | 50 Week SMA and Bollinger band

  • Bulls can attempt a bounce trade with small stop loss. 
  • Bears are hoping for a close below 50 Week SMA.
  • Crucial price level for both sides. Break below this level on closing basis will confirm a Medium term Top in Leading Indices. Bulls are desperate to avoid such an event.

March 13, 2018

ES One hour trend line | Ichimoku cloud update

  • One hour trying to hold above the trend line.
  • Ichimoku cloud too is trying to give support for bulls.
  • Hourly candlestick is a bullish Doji. Current candle must close in green to confirm strength.

ES Charts after closing bell | Channel cloud and PIN Bar

  • One hour is in a bullish channel. For now price has fallen to the bearish part of the channel.
  • Daily candle is a PIN BAR. This candle does need confirmation with a lower opening and a red candle for a possible down swing to start in Daily time frame.
  • 30 Minutes continue to stay on the cloud. If price does not fall below the cloud another bounce above 2800 levels can happen.

March 12, 2018

ES Daily Fibs and Upper bollinger bands | 30 Minutes cloud support

  • ES Daily time frame shows price pausing at the 78.6% Retrace level and the upper Bollinger band. These 2 levels may act as resistance.
  • For bulls the 30 Minutes cloud is acting as support. For the bearish set up discussed above to work they need to break below the cloud. For now though bulls trying to do a lift off from the 30 Minutes cloud.
  • SILVER Multi Year support line and weekly triangle

NIFTY Reversal from 200 SMA | Daily cloud and Bollinger band

  • Nifty bulls found enough velocity to move away from 200 SMA. But price is approaching crucial resistance zone between 50 and 100 SMA.
  • Nifty weekly chart shows Middle bollinger band at 10483. This is the next resistance zone for nifty bulls to close above. Weekly close above this zone may confirm strength. An intra week violation is not enough...
  • GOLD Support zone and Rounding Top

SILVER Weekly triangle | Multi-Year support line and H&S

  • Silver weekly chart shows a bearish descending triangle. But one look at the Month candle shows price near the Multi year support line. So a breakdown from the triangle could end up as a false one and price may take support at the Monthly support line.
  • One other view is very bearish. Month chart is showing a Head and Shoulders pattern starting at Year 2005 to 2018. So a breakdown from this pattern may lead to a melt down in silver prices.
  • GOLD Support zone and Rounding Top

March 11, 2018

Nifty Month symmetry | Price near 200 SMA

  • Price is staying near 200 SMA. No big reaction yet from 200 SMA. If price stays around here without a fast bounce then it increases the chance of a breakdown.
  • Add to that price is staying below crucial moving averages. Any bounce will find it had to cross 50 and 100 SMA. So the bounce which if happens should happen with big momentum for bulls to back in control.
  • Month is trying to form a symmetrical pattern. I hope for the sake of small investors that the left hand side is not equal to right hand side. Bulls can change this scenario by changing the colour of the current month candle, which is going to be difficult.