Resistance levels of nifty futures

• Nifty Futures four hour chart with resistance lines.
• For nifty to continue this upward momentum it should cross the black trend line and the resistance at 5975 area.
• Looking at the resistance around 5975 area i feel a daily close above this level is what's required for a sustained up move to happen

Nifty Daily Analysis

• The falling wedge and the descending channel has given price action in favor of the bulls.
• But as shown in the 3rd chart the Fib levels of 38.2% to 61.8% are good resistance areas.
• 4th chart shows 20 and 50 Day Moving Average doing a bearish cross. But Nifty is getting support from 100 DMA which has to break for the bearish cross to work.
• DOW JONES EOD ANALYSIS
  
  

Dow Jones analysis after closing bell

• Dow jones closes below 50 DMA once again. 
• Bulls may try to find support below 50 DMA for an up move.
• If yesterday's low is not broken this week, we may see a bounce from here.
• Price is showing a falling wedge pattern which is a bullish reversal pattern. But breaking the recent low would result in continuation of the trend and an invalid pattern which will work in favor of the bears.

S&P 500 Triangle pattern

• S&P 500 Thirty minutes chart in a triangle pattern
• Price is trading near the apex of the pattern.
• Breakout from this pattern can give good direction if the levels mentioned in the chart are taken out.
• Good upward momentum above 1190. Breaking below 1180 will favor bears.

Nifty Futures intraday update

CHART-II

• The broken resistance level of 5855 - 5870 is acting as support now.
• Bulls are safe as long as NF does not go below 5855

CHART-I

• Nifty Futures should trade above the resistance band of 5855 - 5870.
• Price should sustain above the black trend line for this up move to continue.
• Dip below 5855 will be negative.

Nifty Daily analysis

• First chart shows nifty taking support near 100 DMA. But we have to see for how long this support last. If price consolidates here without making new lows an up move is possible.
• Second chart shows a narrow down trending channel of nifty spot. Breakout of the resisting trend line can give an up move.
• DOW JONES EOD ANALYSIS
  
  
  

Dow Jones Analysis after closing bell

DOW JONES 5 MINUTES CHART

DOW JONES HOUR CHART

DOW JONES DAILY CHART

• Range in 5 minutes chart gave a good entry today when it gave an up side breakout as shown in the first chart.
• Range in hour chart was Violated but Price went back into the range before closing. But the fact that the range was violated should be a negative factor unless price decides to breakout above the range.
• Daily chart shows price violating the 50 DMA. Despite price coming back to close near the high of the day closing was a just below the 50 DMA.