APPLE Testing Resistance line

• Apple testing resistance line in daily chart.
• If price stays above 20 day moving average a breakout above the resistance line is possible.
• One can go short on a close below 20 day moving average.

ES Bear Flag

CHART-II

• Bear flag breakdown. ES may find support at 1302 level

CHART-I

• If the bear flag works well for bears price can reach 1302 level. This level has good support.
• If Flag fails and an upper breakout happens then 200 Hour moving average and cloud may act as resistance.
• ES DAILY CHART ANALYSIS
  

STATE BANK OF INDIA approaching channel resistance

• SBI Four hour time frame with the descending channel.
• Price is near the channel resistance.
• So this move will face resistance at around 5370 levels.
• For bigger up move to happen price should break the channel on the upside.
• SBI INTRADAY LIVE CHART
  
• NIFTY ANALYSIS
  

Nifty Daily Analysis

• First chart shows negative candlesticks that formed at 5600 levels. If we see one such daily candle today we may see an extended correction.
• But the structure for bulls will be positive till the support line that is shown in 2nd chart is not breached. It will be even better for bulls if 20 day moving average is protected.
• Breaking of the support line will lead to a breakdown towards 5100 levels.
• as long as 20 DMA is not taken out on closing basis 5700 levels is also possible

ES Daily chart with support levels

• Important support in daily time frame is 1302.
• Breaking this may take ES to the trend line in daily time frame. 
• These two levels are expected to hold But the worrying thing for bulls is the momentum of price, This daily candle started falling from 1347 is yet to stop.