NIFTY intraday Update

CHART-II

• Price took support near 50 Hour SMA. For bulls closing above 200 Hour SMA will extend the up move into next week. closing below it will keep price range bound.

CHART-I

• Nifty sustaining below 50 Hour SMA will favor bears. Bulls has to protect day low and take price above 50 hour SMA to avoid a bigger correction.
• Break of the Range discussed in an earlier post has given a downside breakout and a short trade.
• More falls if day low is broken again. 
• Price may target the gap between 4643 - 4676 if day low  gets broken. 
• For up moves 4725 - 4730 level which was broken may act as resistance. Bigger pull back can be seen if this level is taken out by bulls.

BANK NIFTY Support and Resistance levels

• For the short term 20 SMA is the support
• Resistance is 8626 and 50 Day SMA.
• 23.6% and 38.2% Fib levels may also act as support and resistance levels.

SPY Trend Update

CHART-II - UPDATED FROM BELOW

• As discussed in the below chart break of the resistance line has given a good move 

CHART-I

• Price staying above 50 Hour SMA and Hourly cloud will favor bulls for an upper breakout.
• Support and resistance lines shown in the 30 Minutes chart may give good direction.

NFLX Chart Analysis

• Read description from charts. please click to expand.
• MSFT TRIANGLE UPDATED
  

MSFT Triangle update

• MSFT has given a breakout above the triangle pattern. But there is not dramatic increase in volume. Price is moving into resistance band. If it sustains above 27.50 with volumes then this up move will continue 29 levels and above. Getting resisted at 27.50 levels may result in a correction.

Nifty intraday Update

• Nifty 15 Minutes with support and resistance levels.
• 2nd chart nifty Hour chart with 200 Hour sma as resistance level.
• Description in chart please click to expand. 

Triangle breakout TATA MOTORS

• Tata motors has given a breakout from the triangle pattern which was SHOWN IN THIS POST.
• Price has also give a breakout above 200 SMA.
• Price has given good up move from the breakout level, Now it is testing the resistance line of a bigger pattern. For continuing the up move this resistance line too has to be broken and closed above.