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ES Range Update

  • ES has violated the rectangle on the upside.
  • Hour candles has to close and sustain above the rectangle for this move to sustain.
  • A bearish candle at this stage closing into the rectangle may favor bears.
Posted by San at 8:29 PM 0 comments
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GOLD Support and Resistance levels

  • Gold daily is trading between 1603 and 1694.
  • Right now price is moving towards 20 Day SMA. Closing above this moving average will keep the bullish momentum intact. Getting resisted @ 20 SMA will pull prices back towards 1603.
  • Bigger moves will happen once this range gets resolved.
Posted by San at 6:40 PM 0 comments
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Diamond of Nifty

CHART-III
CHART-II
  • Price for now is hanging on above the support line. For this hour the level to break for bears is 5050. If  it does not breakdown today and close at a neutral level then Both Bullish and Bearish possibilities exists.
  • This weekend is important as the European leaders are going to meet, So we never know what's going to come out of there
CHART-I
  • Possible diamond pattern in nifty hourly charts.
  • This pattern will be valid or it will look good if the last hour high is not taken out. Pattern will play out well if price starts to move down towards the support line.
  • So let's wait and see how this unfolds.
Posted by San at 11:38 AM 6 comments
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SBI Support and Resistance lines

  • Price in daily chart is moving up towards the resistance line.
  • In the recent past this line has acted as strong resistance.
  • Now price is also approaching 50 Day SMA. 
  • So a breakout here may extend the current up move. Look for a daily close above 50 SMA for confirming real buying strength. 
  • Getting resisted here will result in another fall.
  • Resistance line is around 1960
  • 50 SMA @ 1966 
Posted by San at 8:26 AM 0 comments
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