BAIDU Chart analysis

DIAMOND BREAKDOWN

• BIDU gives a sell from its diamond pattern shown below.
• Main support lies between 98 and  99. Break and close below this level may push price to the trend line in weekly chart.

DIAMOND OF BAIDU IN DAILY CHART

WEEKLY CHART

• Daily chart is showing a Diamond pattern. Weekly chart is also showing a consolidation pattern.
• Break of the support line may give a correction. But the trend in weekly chart will remain up until the trend line gets violated.
• Break of the resistance line will lead to continuation of this up trend.
• Main support lies between 98 and 99. Resistance at 115 levels.
• QQQQ CHART ANALYSIS
  
  

QQQQ Chart analysis

• First chart is the inverted head and shoulders pattern of QQQQ in its weekly chart with neck line near 50.65 levels. Pattern has given a breakout above the neck line.
• Second chart is the ascending channel which is also looking bullish for now.
• Third chart shows price hitting a resistance line in weekly chart at 54.55. So next week if price trades below this level there can be a minor correction.
• Large correction may happen only if the channels support line gets violated. Major support for qqqq will be between 50.45 - 50.65 near the neck line of the inverted head and shoulders pattern.
• S&P 500 TRIANGLE BREAKOUT
  

State Bank of India Chart analysis

BULLISH VIEW - DAILY CHART

BEARISH VIEW - WEEKLY CHART

• Daily chart is looking oversold and pull back might happen. Stock has hit a support line for the third time and a bounce is expected if the stock does not go below 2655 next week.
• But weekly chart is still looking week with two big bearish engulfing patterns. If stock sustains below 2655 price may go down till 2462 levels.