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GOLDHello & welcome to this analysis Gold at COMEX has formed a bullish Harmonic Gartley pattern in 4hr time frame suggesting a reversal in trend. As long as it sustains above $3295 it could give a bounce/rally till $ 3345 - 3370 - 3400 - 3450. Gold at MCX appears to be ending its pullback but due to INR $ fluctuations a bullish Harmonic pattern has not formed. One could look for bullish trades as long as its above 97900 for upside levels of 99400 - 100000 - 101000 - 102500. Keep in mind levels could alter due to forex changes Overall GOLD is strong and has an upside triangle breakout target of $3700 open as long as it is above $3250 (refer to my earlier view published on Gold in the link) All the best
MCX:GOLD1!Long
by Dinesh_C_Nagpal
1
IT SectorHello & welcome to this analysis The relative strength of CNX IT with Nifty is indicating the likelihood of a stronger reversal. In the monthly time frame we can see after doing a 2x Fibonacci trend extension it did a retracement up to the I H S neckline. In the weekly time frame we can see an early stages of the probability of a double bottom formation. Current ratio is 1.45, if it can hold on a weekly basis above 1.39 it could continue to improve with resistance coming in at 1.55. A weekly close above 1.60 opens the probability of 1.90 and 2.10. Failure to hold 1.39 would suggest further downtrend continuation. Relative Strength is a measure of 2 tradeable assets versus each other. In this case the analysis is if Nifty rallies then IT index will rally strong and if Nifty declines IT index will decline less as long the ratios mentioned above are maintained. All the best
NSE:CNXIT
by Dinesh_C_Nagpal
HDFC BANKHello & welcome to this analysis It has made double bearish Harmonic patterns at the same PRZ level - Crab & Deep Crab in the daily time frame with so far today's candle being an Open = High in daily time frame. A retracement till 1950 - 1875 could be possible as long as the stock does not cross 2050. A heavyweight in both Nifty & Bank Nifty, it could halt the uptrend of both the indexes either till it does not complete its pullback or the patterns get negated. All the best
NSE:HDFCBANKShort
by Dinesh_C_Nagpal
6
SUN PHARMAHello & welcome to this analysis From the pandemic lows made in March 2020 till date it has likely completed Wave 1, 2 & 3 and is doing a time wise (TRIANGLE) corrective wave 4. The sub waves of 4 are suggesting "c" is ending with "d" and "e" pending before it resumes the terminal wave 5 impulse. This is suggesting that for quite a bit of time the stock could remain range bound. This wave count of a triangle will be invalid if current decline goes below 1547 and/or the expected bounce in wave "d" goes above 1857. Wave 5 target could be anywhere between 2400-2500 All the best
NSE:SUNPHARMA
by Dinesh_C_Nagpal
3
GOLDHello & welcome to this analysis Comex GOLD appears to have completed its triangle and is now likely to give a breakout above 3439 for an upside target of 3750. The triangle goes invalid if we witness a sell off from current levels and it breaks 3250 on the downside. MCX Gold appears to have a Cup & Handle formation (similar to a triangle) and is now likely to confirm a breakout above 101075 for upside targets of 103750 - 106200 (will depend a lot on $:INR). The Cup and Handle pattern goes invalid if we witness a sell off from current levels and breaks 99250 on the downside. Overall use dips to add/trail, shorting (intra day would be a different scenario) overnight from here looks like a very risky trade. All the best
MCX:GOLD1!Long
by Dinesh_C_Nagpal
INDIA VOLATILITY INDEXHello & welcome to this analysis On the eve of FOMC meet tonight, India VIX is surprisingly muted despite the Middle East crises and the threat of further Tariff war. A declining to muted volatility index is overall bullish for equities but not so much for OPTION buyers as movements are either staggered or sideways in the index (Nifty has been sideways since MAY 15) as stock specific action takes place. As long as VIX remains below 15 it could further slide down towards 13.25 and below that 12 where we have several cases of VIX bottoming and Index topping out. Above 15 it could take a dash for 17. if VIX continues to decline then option trend buying would be better off with strategies where one can hedge to reduce cost. Also keep in mind as it continues to slide down OTM premiums will remain low that might make your winning % higher but yields much lower in OTM strangles. All the best
NSE:INDIAVIX
by Dinesh_C_Nagpal
1
CRUDEHello & welcome to this analysis USOIL / CRUDE (MCX) after a very sharp rally till the slanting channel have now retraced to very strong support levels as per the ICHIMOKU indicator in daily time frame. One could look for a 4hrs reversal candle confirmation between $64.50 - 63.75 / INR 5625 - 5450 for a resumption of rally till $77 / INR 6900 with resistance on its path at $68.50 & $74 / INR 5825 & INR 6400 Remember enter only after you get a bullish candle confirmation from lower time frame. All the best
MCX:CRUDEOIL1!Long
by Dinesh_C_Nagpal
1
Nifty Mid_Select IndexHello & welcome to this analysis From July 2022 to Sep 2024 it appears to have completed an impulse 5 waves up structure forming a Primary Wave 1 From Sep 2024 to Apr 2025 is a corrective ABC wave that has done a 38 Fibonacci retracement. While it is too early to suggest whether that zigzag fall was a Primary Wave 2 or Wave A of B. The unfolding in the daily time frame suggest the probability of the former and start of a Primary Wave 3. A weekly close above 13250 would increase the conviction of an impulse wave for probable levels where it could make swing highs along its path at approx 14300, 15000, 18000 & 20000. Keep in mind where I have plotted Intermediate Wave 3 could also be an expanded Wave B. Therefore, keep an alternate count in hand till it gives more and more confirmation for bullishness. I am going with the probability of this being a bullish structure as of now All the best
NSE:NIFTY_MID_SELECTLong
by Dinesh_C_Nagpal