Nifty Hour chart analysis

• Nifty futures is trading near support and resistance lines as shown in the hour chart.
• Important intraday levels for today is 6140 and 6187.
• Important support for bulls is at 6093.
• Hour chart may give good direction soon

Nifty Intraday update

TODAY'S RANGE IN 5 MINUTES TIME FRAME

• NF 5 minutes in a 47 points range of 6140 - 6187. Combine this one with the larger range posted below before taking a decision.

CHART-II

• NF 6093 has given good support and an up move till 6187. More to come above 6187.

CHART - I

• Nifty futures is showing a large range of 5960 - 6246
• 6093 will be the midpoint.
• An up move is possible from 6093 levels.

Nifty daily analysis

WEEKLY CHART

• Nifty weekly chart showing first sign of weakness after 5 weakly green candles in a row.
• Nifty did not close below 5 day low ema despite the weakness.
• Staying above 6073 will favour the bulls.
• NIFTY FUTURES LEVELS
• TATA STEEL TECHNICAL ANALYSIS
• BANK NIFTY WEEKEND UPDATE
  

TATA STEEL analysis

WEEKLY CHART

DAILY CHART

WEEKLY CHART

• Tata Steel Weekly chart is showing Bearish engulfing candlestick pattern.
• MACD indicator for daily chart has given a sell signal. Price has confirmed a sell on rise scenario for this stock.
• Weekly line chart is showing support between the region of 607 - 619. If the stock gets here we can expect a bounce from here. But If it breaks stock will slip below 600.
• INTRADAY LIVE CHART FOR TATA STEEL
  

S&P 500 Weekend Update

• Daily line chart shows a steady up move. right now the index is at the top of the channel with chances of either a breakout or a reversal from the top of the channel which will be supported by the ascending channels support line. Line chart shows good support at 1158 - 1160 area.
• Trading above 1160 index can target 78.6% level at 1175.
• If a sell off happens the channel is positioned in such a way that it forms another higher low. Problems for the bulls happen if the higher low higher high structure gets broken. Till then slowly but surely this is going up. 

BANK NIFTY Weekend Analysis

• Main resistance for the index now is 12728 - 12738 area.
• Important support for the index is at 12320 area.
• There is a raising trend line which can also give support for the index.
• Important levels inside the range of 12320 to 12728 are 12414, 12550, 12650

SPY Weekend update

DAILY CHART

• SPY daily chart is showing negative divergence with the hlep of the RSI indicator.
• But unless the price confirms, the negative divergence can last for weeks without giving any results 
• 117.60 levels seems to be a resistance area as 78.6% Fib level also lies here. So one can see a  move towards 117.60 levels next week and a pause there to decide the next direction.
• EURUSD: TREND IS YOUR FRIEND