ES SUPPORT LEVEL

• ES Finds support near 1294 level. Price did broke 1294 But could not sustain below it. For bears they should try to close and sustain below 1294 for bigger correction to happen.
• 50 Day Moving Average is an important level. For now price is below it. Bulls will be comfortable to hold longs only if price stays above 50 day moving average.

NIFTY in a Triangle pattern

• MACD in daily has given a sell There is a conflict there because MACD week is still favoring bulls.
• Price resting at 38.2% and 200 DMA So breakdown from here will push nifty below 5700 towards 5650 levels.
• Nifty Week is showing a big triangle pattern. Rules of the triangle gives a breakout target of 1549 points. If price moves down towards the support line of the triangle We will get a perfect triangle pattern. 

SPY Intraday update

• SPY is trading in a range after giving a gap down opening.
• 129.51 was the intraday low and above 130.59 the Gap will start to fade.
• Getting resisted at 130.59 will give another correction

ES Hour chart analysis

• ES Hour chart show1319 as resistance level.
• 200 Hour moving average also shows a bearish alignment.
• 1298 is the next level for bears to break.
• IWM WEEKEND UPDATE
  

Nifty Daily Analysis

• Daily chart is shown with a possible support and resistance line.
• Fibonacci chart of weekly time frame shows price not able to close outside 50% and 61.8%. So closing outside this range can give good direction.
• 3rd chart shows weekly trend line resisting nifty. But stochastic has not reached over bought levels So a sell is not yet confirmed.
• CNX - IT CHART ANALYSIS
  

IWM Weekend Update

• First chart is the weekly chart of IWM shown with support and resistance lines. Having taken support near the supporting trend line price is moving towards the resistance line shown in Weekly chart.
• Daily chart shows price bouncing from 50 day moving average.
• Price has closes above 82.35 which was a resistance level. Sustaining above this level can target 85 level in IWM.
• GOOGLE CHART ANALYSIS
  

QQQ Bull Flag and a Diamond

• QQQ has  a Bullf flag pattern and a Diamond pattern in daily chart.
• 50 DMA  is moving flat for sometime now So a big breakout on either direction is possible soon.
• If price sustains above 50 DMA we will see the Bull Flag Breakout. 
• If price stays below 50 DMA we will see the Diamond breakdown.
• GOOGLE DESCENDING TRIANGLE BREAKDOWN