February 28, 2018

GOLD Chart Analysis

  • Gold daily chart shows price nearing support zone.
  • Hour chart looks like it will give another low towards 1300  -  1310 zone before a bounce can happen. Any fall below 1300 on closing basis means bigger trouble for Gold bulls.

ES Chart analysis after closing bell

  • ES Daily chart shows a bearish engulfing. This set up will look good only if price closes below 50 Day SMA in daily time frame.
  • 4 hour charts  are shown with crucial support and resistance lines. Price for now is  testing the support line of the rising wedge pattern. This pattern mostly resolves in favour of bears after an up move.

February 27, 2018

ES Chart analysis before opening bell

  • Month candle shows the 200 plus points recovery But with one more day for month close the month candle is likely to be a Doji one. If March month is going to be a bearish one, Month will complete a Bearish set up.
  • 4 Hour chart shows a possible rising wedge pattern. This mostly ends in favour of bears.
  • 30 Minutes chart shows price trending above the cloud. Bears need a cloud break in this time frame to see weakness.

NIFTY Intraday and Month chart Analysis

  • Nifty hour chart is testing resistance zone
  • Day is also struggling at 50 Day SMA. Bulls will gain more strength only if price closes above 50 Day SMA. Day close at the current levels or lower will be negative for bulls.
  • Month chart is shown with crucial price zone of 10530. Month close below this level will confirm bearish engulfing in Month chart. So with one more day to go for month close this price action is important.

February 26, 2018

ES Charts before opening bell

  • Week is trying to break into the bullish zone.
  • Daily is already back above 20 and 50 Day SMA. If today's candle closes stays above these lines bulls may gain further momentum. If today is a bearish close below 50 and 20 SMA then bears may resume the fall.

February 25, 2018

GOLD Weekend update

  • Gold month is near the resistance zone of the Big Ascending Triangle pattern. Day is showing some weakness But the bigger pattern in Month chart is bullish for Gold.
  • Support in daily chart is near 1305 levels. If price stays above this level Bulls are safe from a bigger correction. 
  • 4 hour chart shows a small range between 1323  -  1335. This range should give direction for next week.

February 24, 2018

NIFTY Weekend update

  • Week candle managed to come back and close above Middle bollinger band. The bullish shadow of the weekly candle is giving hope of a bigger up move.
  • Although week is trying to turn up the Month candle is still in the grip of bears. Price need to move back above 10530 levels to avoid the Bearish engulfing pattern in Month time frame.
  • One hour has moved above the cloud. If sustains above the cloud a bullish move is possible.

ES Weekend update

  • ES one Hour is putting up a Bullish pattern as shown in first chart. Its a bullish V. Price is likely to correct from the current levels and if the correction is limited to the support line of the pattern an Upper breakout is possible.
  • Daily has closed above 20 Day SMA.
  • Weekly chart shows candle recovering from the lows But closed at the resistance zone. Bulls need to do more and stay above 2760 levels to erase the weakness completely.

February 23, 2018

GOLD Chart Analysis

  • Gold 4 hour chart shows a bearish M shaped correction. Next level to watch is 1322. Below 1322 price should fall to the Main support zone between 1305 - 1310. For the Day bullishness above 1334 levels.

CRUDE Oil daily chart update

  • Crude oil daily is testing previous broken support zone(63) which may act as resistance now. Daily close back below 20 Day SMA will also be negative for crude oil.
  • Crude bulls need price to sustain above 63. 

ES Chart analysis before opening bell

  • ES one hour is in a triangle contraction. After the noise of the hour if Daily gets a close above 20 SMA then a bigger up move is possible. But 20 SMA is consistently acting as resistance for the past 5 Daily candles So bears too has a hope on this line. As far as numbers goes strong bulls above 2736 and 2750 For bears its below 2682.

February 22, 2018

ES One hour support resistance levels

  • ES One hour cloud is getting tested again.
  • Hour cloud and the zone between 2736 - 2750 are immediate resistance levels in this time frame. For a bigger breakout in favour of bulls these two levels must be taken out on closing basis.
  • Getting resisted at the cloud will resume correction as it did yesterday.

ES Chart Analysis after closing bell

  • Week candle got resisted near the top of the range. Now if price stays below 2700 then it should fall towards 2620 levels.
  • For bears hour must stay below the cloud for a trending move towards 2620 levels. Immediate resistance at 2700 levels.

February 21, 2018

ES Chart analysis before opening bell

  • ES Week chart shows the broad range between 2620 - 2760. Price near the top of the range. Price will remain negative to neutral within this range.
  • Immediate support zone for the day is 2700 - 2705. Break below this means a trending down swing in hour chart.
  • Price remaining below the hourly cloud will favour a down swing in this time frame. Negative below 2700 - 2705. Bulls may also use this price zone to do an Intraday bounce.

February 20, 2018

NIFTY Chart update

  • Nifty daily chart shows the small candle just below 100 SMA. Twice in the recent past this price action was followed by good up move. But this time price is trying to consolidate after a big correction, which is good for bears.
  • If price stays below 10276 then 200 Day SMA is possible.
  • Weekly chart shows price below 20 Week SMA.  Bulls must try to get back above this moving average to avoid bigger falls.

State bank of India chart Analysis

  • State bank of India month chart shown with crucial support resistance levels. Price is in a big range between 150 to 330. Chart shows crucial support zone at 240. Bigger weakness for the stock only if 240 levels are broken. Till then bulls are safe to do a bounce. Look for bounce trades only when price reaches 240 levels.

February 19, 2018

S&P 500 Futures intraday update

  • Price testing 50 Day SMA.
  • Bears need a close below 50 SMA To resume correction.
  • Daily staying below 2688 should result in a Down swing again.
  • Strength above 2754.

February 18, 2018

APPLE Weekend update

  • APPLE Month chart shows price moving into resistance zone.
  • Weekly chart is showing big momentum in favour of bulls.
  • Only time frame that's giving some hope for bears is the Daily one which has a Pin Bar candle. The placement of the PIN BAR is not ideal. It will be good always if the PIN BAR forms above the previous candle, But still if price closes lower on Monday a bigger correction may start.
  • ES Weekend update

ES Weekend update

  • ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
  • Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
  • Hour is in a nice bullish channel. If channel lines holds bounce will extend.
  • My Preferred view will be to look for a close below 50 SMA to go short. 
  • ES Hourly bullish "W" Pattern