May 28, 2018

Sterlite Protest Gives a Monthly sell for Vedanta

  • Vedanta Month chart with sell signals highlighted from year 2010.
  • Past 2 sell signals along with MACD worked well.
  • Current sell signals is accompanied by agitation against one of its plant in Tamilnadu.
  • The buy signals in 2009 and 2016 have also worked very well with this set up. So its better to wait for such a signal to emerge to enter this stock. Till then its a sell.

May 23, 2018

NIFTY Chart analysis || 50 Day SMA and Bearish engulfing

  • Nifty daily is trying to seek support at 50 Day SMA.
  • Weekly time frame shows bears threatening with a Bearish engulfing pattern at the top. But this Bearish pattern needs help from 50 Day SMA. If 50 Day SMA does not hold in daily time frame then the Bearish engulfing in Weekly time frame will be effective.

May 17, 2018

Punjab National Bank Month chart Analysis

  • Punjab National bank Month chart shows support at 69 levels if that is not held then 57 levels are possible. 57 Levels are last seen in Year 2009. For long term bulls of the stock crucial to stay above 57 levels.

Previous Anlaysis of PNB: Link

May 14, 2018

CRUDE Oil trend update | 200 SMA and Month resistance lines

  • Daily trend continues to favour bulls. 3 times price tested the cloud But bulls managed to hold one. Larger trend will remain safe till price stay above daily cloud.
  • Month chart with Fib levels shows a possible target between Golden ratio and 78.6% Retrace level. This level also coincides with some of the falling resistance lines from 147 levels.
  • But major event to look out is the move above 200 SMA. In Month time frame this event results in Major directional moves.

May 10, 2018

ES Chart analysis before opening bell

  • ES Daily shows triangle breakout. But Bulls must stay above some more hurdles to claim it as a genuine breakout. Bulls are also not showing enough momentum yet. Having said that staying above 2720 levels can given them momentum.  Bears may look at a double top opportunity around  2720 levels. 

May 8, 2018

ES Charts after closing bell | Triangle and Moving average

  • Price continue to stay in the apex of the pattern. Looks like it will move to the edge of the Apex before a breakout or breakdown could happen. Since its a triangle false moves are very much likely to be seen.
  • Overhead resistance at 50 and 100 SMA. Close above these lines may hint of strength. Remaining below it will favour bears.