Nifty intraday bounce

CHART-II

• As expected the bounce did not last long.
• Got resisted before reaching 5550 level.

CHART-II

• Nifty will face resistance near 5545 - 5550 level.

NIFTY Trending down below the cloud

• Nifty 15 Minutes chart with ichimoku cloud.
• Price after giving a triangle breakdown has not touched the cloud even once.
• So in shorter time frame charts its trending down in favor of bears.
• Today's GAP is also crucial if that is not faded soon things will continue to favor bears.

NIFTY Daily chart analysis

• Nifty may break 5600 today morning because of the global markets.
• Fib levels shows 5531 as the next support level.
• Bearish candlestick of Friday is being supported with follow up selling. 
• Closing below 5 day low ema will make bears more powerful.
• If the GAP is large we might see a bounce to partially fill the GAP.
• S&P 500 EOD ANALYSIS
  

S&P 500 Analysis after closing bell

• Price has fallen below the cloud in daily time frame which is negative.
• More Steep falls might occur if 38.2% and 50 day moving average gets broken.

SPY Trend Update

• Fibonacci levels shows the break of 38.2%  Fib level. If price sustains below this level this will lead to at least 50% retrace. Price moving back above 38.2% may give an intraday up move.
• 30 Minutes time frame shows price falling below the cloud and 50 Period moving averages. Any rise from here towards the cloud will face selling pressure.
• SPY MOVES AWAY FROM THE ISLAND
  

SPY Moving away from the Island Top

CHART-II - (UPDATED)

CHART-I

• SPY is moving away from the island top formation.
• Price staying below 133.30 level will favor bears.

NIFTY hits the support level again

• For bears above shown level has to break.
• For bulls price fall should stop here for another attempt towards resistance levels.