May 23, 2018

NIFTY Chart analysis || 50 Day SMA and Bearish engulfing

  • Nifty daily is trying to seek support at 50 Day SMA.
  • Weekly time frame shows bears threatening with a Bearish engulfing pattern at the top. But this Bearish pattern needs help from 50 Day SMA. If 50 Day SMA does not hold in daily time frame then the Bearish engulfing in Weekly time frame will be effective.


May 17, 2018

Punjab National Bank Month chart Analysis

  • Punjab National bank Month chart shows support at 69 levels if that is not held then 57 levels are possible. 57 Levels are last seen in Year 2009. For long term bulls of the stock crucial to stay above 57 levels.
BELOW ANALYSIS WAS MADE IN FEBRUARY 2018. A BEARISH "M" WAS SEEN IN CHART @ THAT TIME 


Previous Anlaysis of PNB: Link


May 14, 2018

CRUDE Oil trend update | 200 SMA and Month resistance lines

  • Daily trend continues to favour bulls. 3 times price tested the cloud But bulls managed to hold one. Larger trend will remain safe till price stay above daily cloud.
  • Month chart with Fib levels shows a possible target between Golden ratio and 78.6% Retrace level. This level also coincides with some of the falling resistance lines from 147 levels.
  • But major event to look out is the move above 200 SMA. In Month time frame this event results in Major directional moves.