- Weekly chart shown with fibonacci levels shows price stuck in a range between 50% and Golden ratio. So a weekly close outside this range will give a clear direction for SBI.
- For the day crucial levels are 2266 which is the 20 SMA in weekly chart and the resistance line drawn in daily chart. Close above the resistance line may give an up move.
- Apple Hour chart shows a bearish cross with 20 and 50 Hour SMA.
- Hour time frame will extend gains for bears if price falls below 100 Hour SMA. For now 100 Hour SMA is acting as support level.
- Crucial support is shown in daily time frame. Confluence of support at 50 day SMA and 38.2% fib level.
- For Chart shows price testing the resistance levels.
- Four hour chart shows a possible Bullish "W" pattern.
- One hour chart shows price getting support at the cloud. Only a close below the cloud of this time frame can weaken the up trend of ford.
- 4 Hour chart of crude oil shows a possible rising wedge being formed.
- Getting support at the rising support line may give another up move before the big correction may start.
- ES Hour chart shown with crucial support and resistance levels.
- 4 Hour chart shows negative divergence developing. For this one to be effective price must break below the support levels shown in one hour chart.
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- Immediate support levels for nifty is the 23.6% Fib level and 100 Hour SMA shown in chart 2.
- If this fall extends then the target zone could be the 38.2% Fib level and 100 Day SMA area. Another support is possible at 20 Week SMA at 5870.
- RELIANCE INDUSTRIES CHART ANALYSIS
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- Reliance industries getting resisted at 38.2% Fib level shown in daily time frame.
- Second chart shows a Bearish Death cross in daily chart. with 50 SMA falling below 200 Day SMA. Price has also closed below 50 and 200 Day SMA.
- Now hope for bulls is the support line shown in 2 hour chart which needs to be held to avoid a bigger fall.
