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.