ES 100 SMA and bollinger band Updates

• ES Daily chart shows price moving towards 100 Day SMA.
• 2nd chart also shows a possible support in Lower Bollinger band.
• Bigger correction only if these levels are not held. Close below 100 SMA can be very negative for bulls as it may take price towards 200 SMA again.
• Another point to highlight is the strength of PIN BAR at crucial levels. This one at upper bollinger band has given good results.

ES 4 Hour chart analysis

• Price testing crucial support resistance zone in 4 hour time frame.
• Price if sustains below 100 SMA can lead to bigger correction. 

NIFTY Violates 200 SMA

• Nifty falls below 200 SMA.
• Bears need a daily close below this line to strengthen their position. If an intraday bounce takes price back above 200 SMA then that will keep the hope of a bounce for bulls alive.
• 4 Hour chart shows a possible falling support line. If held an intraday bounce is possible.