Bank Nifty chart update

• Bank nifty daily in a squeeze between 50 and 200 Day SMA. Weekly chart shows 50 Week SMA stopping a bigger fall.
• The pattern shown in first chart looks Topish But it can work for bulls as well. 
• SILVER Triangle pattern: CLICK Here

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Silver triangle update

• Silver triangle discussed yesterday has broken in favour of bulls. Price is moving away from 200 Day SMA.
• Next hurdle for silver bulls is the weekly cloud. To change the larger trend of Silver price must move above the weekly cloud.
• SILVER Triangle pattern: CLICK Here

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NIFTY Chart analysis

• Nifty for now is in a range between 7961 and 8355.
• Last chart shows the Anatomy of a Swing trade. If one had taken a long trade close to 7900 levels his longs are safe for now as the Stop loss is hidden below the strong support zone. But the 200 Point fall will scare away many traders. Now here comes the Main part and Why trading is tough -  If there are not enough shake outs, price may come down further and violate the support zone before going up again. So one has to remain Dynamic and have enough Capital to Re-enter. 
• If one watches patiently they can see Many shake outs in Intraday charts and they give the best trading opportunities as well.

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CRUDE Oil chart analysis

• Crude oil triangle which was discussed yesterday has moved in favour of crude oil bulls. Now Bulls need a daily close above 200 SMA.
• Price is yet to violate crucial support levels like 20 Day SMA or 4 Hour cloud.

Nifty chart update

• Two weekly candles at 7960 amd 7997 levels looks almost like two pillars holding a building. Although this up move looks bullish the pattern that is forming is a possible bearish head and shoulders. If 8355 is taken out up move may target the Golden ratio for the entire fall from 9119 level and thus completing the HNS pattern. Its only a possibility.
• Immediate resistance at 20 day sma and 8355 levels as shown in daily chart. Daily close above these levels will keep the bulls stronger.  

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CRUDE Oil chart update

• Crude oil 4 hour chart price contraction in a triangle pattern. Price is stuck between 200 and 20 day sma. Daily close above or below these lines may give good direction for Crude.

Silver triangle pattern

 

• Silver daily and weekly chart shows price contraction and may result in bigger moves soon. 200 Day SMA is the immediate resistance line in daily chart. Silver bulls need a close above this line for a breakout in their favour.