Nifty intraday update

• Nifty daily chart shows price testing 100 Day SMA. Earlier price get resisted at 50 SMA and now its seeking support at 100.
• Hour chart shows price near crucial support zone near 8500 levels. A quick reversal or a bigger breakdown depends on this area.
• AXIS BANK CHART ANALYSIS

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TESLA Chart analysis after quarterly results

• Tesla after Hours action suggests price could test the 200 SMA when it opens tomorrow. For bigger up moves need Tesla bulls to close the day above 200 SMA which has acted as resistance recently.
• Month chart shows price staying near crucial support line. If price moves out of the pattern the first test could be at 235 levels. 
• But most important before 235 is to cross the 200 SMA on closing basis. 

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ES Chart analysis before opening bell

 

• ES Daily and 4 hour chart shows price near crucial support levels. 2115 to 2126 levels have held before so for a bigger fall this level must be broken on closing basis.
• Immediate resistance is seen at 15 Minutes cloud. A short term reversal possible if price moves back and stays above 15 Minutes cloud. 

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AXIS Bank Analysis after quarterly results

• Month chart of Axis bank is showing a possible Bearish M or a Double top with possible targets below 400 Levels.
• Daily falling below 200 SMA will further add to the bearishness of the stock. For Axis bulls they must get back above 200 SMA to avoid bigger falls in the coming days and weeks.

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Nifty Chart analysis

• Weekly chart is trying to put up a Topping pattern, For this one to succeed price need to stay below 8500 levels as shown in chart 1.
• Weakness can be confirmed if price starts to stay eblow 20 Week SMA.
• Immediate resistance at 50 Day SMA. Closing above 50 SMA may give an up move towards 8750 and 8800 levels again.
• CRUDE OIL CHART ANALYSIS

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ES Chart analysis after closing bell

• ES 4 hour chart shows price testing crucial support line. Daily time frame too is showing weakness at 100 Day SMA. Bears need the daily candle to close at the current levels or lower for an extended fall to follow.
• Weakness continues to be seen near or at 50 Day SMA as shown in last chart.
• CRUDE OIL CHART ANALYSIS

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CRUDE Oil chart analysis

• Crude oil testing channel support line
• Price if stays below the cloud will favour crude bears.
• Crucial support zone is between 49.10 to 49.60. Bigger falls only if price stays below this level.

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