A-trend
banknifty either side direction is possible.bank nifty forms doji in the daily chart. we may see a gap down opening tomorrow. and then followed by some up momentum towards 30014 level. If it breached closing will be upward if not it will crash downside. trade with caution it is expiry day.
BERGERPAINT going long.#bergerpaint looking strong with a breakout above resistance with good volume.
going long with previous high as a target.
Nifty 50 - TrendNifty is in bullish now, next target of 10930, 10980 (major resistance). Also it forms head and shoulders patterns, so long view says downtrend. 9300 range.
BTC can Taste 3200 LevelBTC can Taste 3200 Level, Because it is showing bearish mode. Previous Support @3450 is acting like Resistance . Ichimoku cloud can reject it as previously trend.
SELL COLPAL ONLY if breaks 1320, for target 1313 , second targetSELL COLPAL ONLY if breaks 1320, for target 1313 , second target 1308
REC LTD - Hourly chart - Upwards channel movementREC LTD from the past few HOURLY trading sessions, has been in an upwards channel. Channel breakout / breakdown may give good up or down movement.
Learning to draw trend linesCRUDE OIL CHART.
15 min TF.
Crude seems to be moving in a channel like formation.
Positional trade based on elliot wave analysisIt has completed its correction and form a base at 1540 levels. has crosses 1720-1740 levels which indicates change in trend. My target and my strategy is based on elliot wave theory. target of 1880 is interim target. Moreover i am expecting 3-4% upside on pharma index in next trading sessions
Bitcoin aiming for another 1-Year Low+++++ Push the like "Like" to reveal hidden content +++++
Bitcoin heavy downtrend continues as yet again it reached a new 1-Year low, hitting $4210. Price remains in the support zone of $4375-4044, mentioned in our previous idea (). Market is going through a lot of stress and it will take more time for it to calm down. While the volatility is high, BTC/USD could go even lower, towards the 161.8% Fibonacci retracement level at $4055. At the same time, price spikes might fall beyond the support, potentially reaching $4k and below. Nevertheless, it would be important to pay attention to the daily closing prices throughout coming week/s.
Talking about the short term upside potential, Bitcoin could be reaching the $4550 resistance level. This is where the most trading volume occurred over this week, and also confirmed by the 61.8% Fibonacci retracement. Although to have more confidence in the upcoming corrective move upwards, price must break above the 88.6% Fibs at $4700. This is where buyers might show interest in the Bitcoin and push price higher, at least to test the $5k psychological resistance. And finally, if price will break above $5k, the probability of a trend reversal will become much stronger, at least until price stays above $4k level.
Support:
$4385
$4055
Resistance:
$4555
$4646
$4700
$5000
An investment idea in AUROPHARMA on NSE (INDIA)This is weekly chart of Auropharma with CMP @ 781.40. It looks an excellent investment idea based on following observations:
1. Price during Feb 2015 to Aug 2018 (after massive bull run from Aug 2013 to December 2015) was trading in a range which is shown on the chart by drawing support and counter trendline with arrows indicating multiple supports and resistances.
2. Price then broke out of counter trendline on 3rd Sep 2018 and it then consolidated for seven weeks taking support on counter trendline and subsequently showing reversal exhibited by bullish candle closing today.
3. During the period (Oct 2016 to Oct 2017), resistance was observed at RSI near 60 (as marked on the chart). Finally, it broke out of RSI (60) as shown /marked on the chart. During recent consolidation of seven weeks as mentioned in preceding point no.2 above, RSI tested once again at 60 before rising again. This implies that momentum is still intact.
4. Fibo extension indicates a target of 1335 (as shown on the chart) in next coming 18-20 months which indicates possible return of nearly 70% on investment. Initial stop can be considered below swing low /below counter trend line at 695. This calculates an excellent Risk-Reward ration of over 1:7.
Happy investing. Please share opinion which will help all of us through cross learning...
