August 3, 2017

CRUDE Oil support and resistance lines

  • Crude oil is at a confluence of support and resistance. If the support line shown in 2nd chart is held a bigger breakout is possible.
  • Resistance line has worked well so far But after the Initial drop price is likely to test the resistance line again. One has to wait and watch if it holds or price moves past the line towards 52 levels. Weakness below 48 levels.

July 27, 2017

CRUDE Oil chart analysis

  • 4 Hour chart shows price breaking above a crucial resistance line. Pattern in four hour is a possible basing formation for further high's. Bullishness will sustain if price continue to stay above 48 levels.
  • If price stays above the resistance line then it could target 50 and can also move towards 52 levels. Weakness resumes below 48.

July 25, 2017

Alphabet Technical analysis, Google After results

  • Daily chart shows Alphabet reacting from Daily resistance zone.
  • A Down swing can only happen if price sustains below the Hourly cloud.
  • Weakness on hour and day on Google closing below 975 levels. Staying below 975 price may target 950 and 935 levels. Bulls need to keep price above the Hourly cloud to avoid this scenario.

July 24, 2017

ES Trend update

  • ES Hourly charts continues to favour bulls.
  • Small weakness only if price starts to trade below 2465 levels.
  • Staying above the hourly cloud will continue to favour bulls for new high's.

July 21, 2017

ES Chart analysis before opening bell

  • ES one hour shows price testing the Hourly cloud. Bears need to keep price below the cloud for bigger falls to follow.
  • 4 Hour chart shows crucial levels for bulls to stay above to avoid a bigger correction.

July 20, 2017

ES Daily and Hour TF Before opening bell

  • Staying above 2450 levels will continue to favour bulls of ES. Price likely to hit 2500 before it moves below 2450 level.
  • Hour chart shows support at rising Ichimoku cloud. Things may turn in favour of bears only if price starts to stay below Hourly cloud. So Hourly cloud crucial support zone for bulls to hold above.

July 18, 2017

GOLD Trend update

  • Gold 4 hour chart shows the starting of an up swing. This setup will remain effective till price stay above the cloud.
  • Immediate resistance at 1239 levels. Above this price can target 1251 and 1262 levels respectively. 
  • Weakness if price starts to trade below 1226 levels.

July 17, 2017

CRUDE Oil Inside an ARC

  • Crude oil Weekly chart shows price moving inside two Arc's. 
  • If price stays within this structure then Price may fall towards 42 and 39 levels.
  • If price moves out of the Arc then 51 levels are possible in the short term.
  • ES Weekend update

July 16, 2017

ES Weekend update

  • ES Daily chart shows price moving above 2450 resistance zone. Weakness for This bullish setup only if price starts to close below 2450 zone.
  • Second chart shows the failure of Bears to keep price below 50 Day SMA. Those failed breakdowns led to bigger up moves in favour of bulls.
  • 4 Hour chart shows immediate support levels 2450 and 2445 respectively for bulls.

NIFTY Month and Hour charts

  • These two charts were shared on May 30. Month chart was shown with Bullish possibility and Hour chart was shown with and Ascending broadening wedge and Price held on to the resistance line before it starts to go down eventually. But the long entry at the Hourly support line worked well. Everything that happened in Hour chart may happen in Month time frame as well.  
  • This is the difficult part of trading When one expects a sudden reversal it takes its time. When traders expect sideways action it reverses suddenly. Secret is to be consistent with your setup and have stop loss. Sometimes one has to do Multiple entries. For example If you have a 25 point stop loss You should go for a 125 point successful trade. In that way the Good trade takes care of 5 Wrong trades. Sometimes when the trade really goes in you favour it can take care of even 10 Wrong trades. This According to me is the only way to be a successful trader in the long term.  One has to build Good habits which is useful for you in the long term. 
  • Click the link to see the May 30 Post with Month and Hour charts .CLICK HERE;

July 6, 2017

ES Chart analysis after closing bell

  • ES 4 Hour chart shows price near crucial support zone of 2415.
  • Daily too has a rising 50 Day SMA as support. Break of these two levels may lead to bigger correction.
  • Weekly shows negative divergence.  This can either work well for bears with good correction or price may start to move sideways followed by an upper breakout. I am expecting a correction if price start to trade below 2400 levels Targeting 2315 levels.

June 27, 2017

NIFTY Chart Analysis

  • Nifty daily chart with 20 and 50 SMA shows price falling into the buy zone between 20 and 50 SMA. Weakness for bulls can be confirmed only on daily closing below 50 Day SMA.
  • Weekly chart is showing slight weakness with negative divergence. MACD lines too is closing in on a bearish cross.
  • If daily closes below 50 SMA Then the weakness is likely to moving into the Weekly chart as well.

June 23, 2017

CRUDE Oil trend update

  • Crude oil 4 hour chart shows bearish trend intact.
  • The channel and cloud will continue to support bears to take price further downwards.
  • Break below 42 likely to take price towards 40 and sub 40 levels.
  • For a bigger reversal price must move out of the cloud and channel.

June 14, 2017

CRUDE Oil channel and Head and Shoulders patterns

  • 4 Hour chart shows the immediate support line for the current fall. Current fall is likely to take price below 44 levels.
  • Daily chart is showing bigger possibilities for bears. There is a head and shoulder pattern with 2 shoulders. If this goes well for crude bears price may reach levels below 40 in the near term. There could be bounces But the easier target to predict at this juncture is 42 and 40 levels in the short term.

June 9, 2017

CRUDE Oil trend update

  • 4 Hour chart shows a head and shoulders Top and subsequent breakdown. The downswing in 4 hour chart will stay effect till price stay below the cloud.
  • Weekly chart shows price violating the up trend line from 35 levels and is showing more bearish possibilities. 42 is the crucial level to avoid a bigger breakdown. Immediate level for crude bulls to protect is 45. Below 45 price may fall to 42 levels.

May 30, 2017

NIFTY Chart analysis

  • Nifty month shows bigger bulls continues to be strong. Bullish structure will remain intact till price stay above 9100 levels.
  • Hour is trying to form a bearish Ascending broadening wedge. This is mostly a bearish pattern, The levels for weakness is shown in 15 Minutes chart.
  • 15 Minutes chart shown with immediate support levels. Weakness starts below 9600 and 9560 levels.

May 17, 2017

CRUDE Oil at 200 Day SMA

  • Price having closed below 50 Week SMA is finding it hard to move back above this line. 50 Week SMA line and 200 Day SMA on daily chart may continue to act as resistance for the current bounce.
  • Immediate strength and weakness can be seen in one hour chart. For now price is staying below One hour cloud which suggests strength for crude Bears.
  • S&P 500 Testing resistance zone

May 16, 2017

INFOSYS Weekly Megaphone pattern

  • Infosys week chart shows a possible bearish pattern forming. Since the Megaphone is forming at the top of an up trend this is likely to be  a bearish one. Having said that price is trading close to a crucial support zone so a larger bounce from here cannot be ruled out.
  • Bears will gain strength if the support line shown in second chart is violated on closing basis.
  • Infosys bears also need to keep price below 200 SMA to keep the weakness intact. 

S&P 500 Analysis after closing bell

  • ES testing resistance zone 2400 level.
  • 2375 and 20 Day sma are immediate support levels. Bulls need to keep price above 20 Day SMA. Closing below this level may start a down swing.