CHART-II
- Breaking 1278.50 will extend gains for bears. This level may act as a support area as well.
CHART-I
- ES hour chart is showing a triangle shaped consolidation.
- This one can give more than 10 points towards the breakout provided there is no false breakout.
- Price in daily chart is trading near its 200 DMA, So if price touches the 200 DMA we may see a bounce from this moving average.
- Price in weekly did violate the trend line, But has managed to stay above it form now.
- Daily chart is trending down in a channel. So a change in trend may be visible once the resistance line of the channel gets broken on closing basis.
- First chart shown is the range of bank nifty in weekly Time frame. This range should be resolved for a convincing move to happen.
- 2nd chart shows a possible Diamond pattern in daily chart. This pattern is know to be bearish. But Remember A Diamond can make a bottom formation as well. So go short only if the support line of the Diamond breaks.
- Google weekly chart shows support near 560 levels.
- Price closing below this level may push the stock down to the support line in weekly chart.
- If price does not break 568 we may see an up move in google
- Apple daily chart will confirm a bullish engulfing pattern on its up trend line.
- If price closes today above 350 the pattern will be completed.
- And the pattern is more important because it has come at a trend line. So closing the day and week above 350 will favor bulls in the coming weeks.
- SPX DIAMOND PATTERN
- ES Hour chart is trading near 50 hour moving average.
- Maximum this bounce can go is till 61.8% fib level.
- For now price has to sustain above 50 hour moving average and 38.2% Fib level.
- SPX DIAMOND PATTERN
- There is a band of support for NF between 5400 - 5420.
- This area was violated once and NF went below 5300.
- Next big correction can happen only if This support area gets broken.
- TATA STEEL CHART
