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.