BANSALWIRE - Weekly AnalysisIn the Weekly Chart of BANSALWIRE ,
we can see that; it has created a Inside candle.
Take a small trade by entering at 360 with SL as 345 and Go Long.
Candlestick Analysis
ONMOBILE - Weekly AnalysisIn the Weekly Chart of ONMOBILE ,
we can see that; it is emerging strongly from bottom.
Let it retest or create a halt candle then we can enter with SL and Go Long.
Expected momentum is shown in chart.
RAMAPHO - Weekly AnalysisIn the Weekly Chart of RAMAPHO ,
we can see that, it has been rejected multiple times at Trendline.
Also 195 level is rejected multiple times.
Enter on breaking its High with low as SL.
Expected move is shown in chart.
PGHH - Weekly AnalysisIn the Weekly Chart of PGHH ,
we can see that; after applying FIBO, it is reselected the 17000 level.
Take a small trade by entering at 17000 with SL as 16700 as SL and target as 19200.
Expected move is shown in chart.
NIFTY BEARISH PATTERNOn daily chart a bearish engulf candle is created on nifty and same way on weekly chart a inverted hammer is also created. So more correction is expected on nifty. Next supported on 24100-24000. Stay cautious.
Inverted head & shoulder breakout in MCXThere is a breakout of inverted head and shoulder neckline in MCX daily chart. One can enter by keeping stop loss at low of breakout candle. I am not strong bullish so I've entered this trade with low risk.
Bullish break out in the stocks for this week 08/07/2024..
ONGC is a government sector company is trading around the resistance zone. If there is a break out of the consolidation zone good returns can be captured in the stock.
The stock has taken a good support from 20 ema which also gives a confidence to hold the stock for a swing trading.
Even on the daily charts, the stock has test the 200 ema and chance of it clearing the resistance level is high.
A round number figure of 300 can be seen as the next resistance as the stock will be trading in an uncharted zone after the break out.
Kotak bank has been trading in a range and the upper resistance zone is around 2050 levels. The stock is currently trading around 1850 levels and has taken support from both the moving averages on the weekly charts.
If the stock sustain the break out there are chance of it hitting the resistance level soon. The target for trading are there on the chart.
Long term stock positions can also be created in the stock as it seems to show some bullishness.
Wait for the price action near the levels before entering the market.
Banknifty analysis for 19/07/24.Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made.
The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800.
There is chances of BN catching up with other index.
Major Break out level :- 52800
Targets :- 53080, 53250
In case the market starts break down, trade only once it break the support zone of 52150-52200.
Wait for the price action around the levels before entering the market.
Gold July 16 2024Technical:
1. W - Strong uptrend.
2. D - Strong uptrend. There is rejection at resistance yesterday and closed below resistance.
3. 4H - Strong uptrend. Structure is very steep.
4. It is at all time high resistance.
5. It reached resistance with fundamental support also.
Fundamental:
1. USD negative so far..
2. Powell speech was not much impact. It helped to retest the break.
3. USD has red data at 6PM IST - mostly negative
Game plan:
1. Based on 4H structure, it may come down to 2397.695 to give retest.
2. Observe at this level what it doing.
3. If it rejects and made candle confirmation at 2433.302 at 1H timeframe, go for sell
4. If not getting chance to entry at 2433.302, wait for break of 2420 and take entry at retest.
5. Sell - Max target 2397.700.
6. Based upcoming economic data, we can expect it to go up and break resistance.
7. Buy - if market sustains above above 2433.300 - 2439.880 zone after break and retest to same zone.
8. Look for candle rejections before going for buy entry.
9. If you take entry , exit before the USD economic data release. or look for entry after the data release.
If get time to update anything, will update here.
GBPUSD - July 16 2024Technical:
1. Strong uptrend in all timeframes.
2. Strong momentum.
3. It is at resistance.
4. 1H - Consolidation and no momentum either side.
5. So far no confirmation to go any side in both 4H and 1H.
Fundamental:
1. USD data very negative so far.
2. Powell gave few good words about US economy but that won't help to go down.
3. GBP - No economic data for today.
4. USD - Red data at 6Pm.
Game plan:
1. both buy and sell.
2. Sell - Double top, Rejections, 4h/1H candle confirmation, Medium risk
Trail SL.
3. Buy - Go at marked levels. Based on confluence and confirmation, choose risk.
4. If it breaks resistance with strong bullish candle, go for trade.
5. Conservative sell - Wait for break and retest at 1.29612, then go for sell
based on rejections candles.
6. US economic data may help to break above and go.
Note: If you are in trade, exit before US economic data release. or after the data out, take entry based on situation.
Hint: Mostly it would go up ;P
GBPJPY - July 16 2024Technical Analysis:
1. Even though some weird selling pressure was there last week, it is still in uptrend.
2. W - Uptrend and last week rejected resistance and closed below resistance.
3. D - Uptrend and given fake out and closed below resistance.
4. 4H - There was buying pressure at support.
5. 4H - Made double bottom at support and candle stick confirmations.
Fundamental:
1. No use of having GDP data coming out.=, the same day market dropped much.
2. No economic data for today.
Game Plan:
1. Above 205.339 - Buy. 4H candle confirmation can be good at 204.726.
2. Below 204.500 - Sell. Break and retest and sustain below that level.
3. Be a buyer and take entry on marked support levels.
Is BANKNIFTY forming FLAG-POLE pattern..?As we can see BANKNIFTY is forming more like a flag-pole pattern which is also a bullish continuation pattern if the structure breaks but we can also see a trendline resistance which had been resisting BANKNIFTY for quite sometime now. Hence we can expect a trap if BANKNIFTY breaks but couldn’t sustain itself above the structure which could lead a to a bigger fall so plan your trades accordingly.
GBPUSD - Weekly AnalysisIt may give a pullback to 1.28951 and go up.
If it is not giving pullback, it may break 1.29946 and continue to go up.
Do not expect to give pullback because of strong uptrend.
If pullback / sell - These confirmation required to go for sell - double top, Candle confirmation and rejections - Trail SL.
Based on economic data also we have to decide the bias.
ONWARDTEC | Trendline + 200 EMA supportONWARDTEC | Trendline + 200 EMA support
CMP : 455 (Dip : 410)
Gold Weekly Analysis July 15 - 19 Be a strong buyer until it reaches 2433.302.
Observe what the market is doing at that level.
If it breaks that resistance and sustain above that level, be a strong buyer.
If there is a signal to go down, then be a seller with proper selling signals.
Fundamentals may also support the market going up.
If the market goes down, fundamentals may play a role in this move.
GBPJPY - Pre Week Analysis Still its uptrend and trend has not been changed.
We can go to buy above 204.500 where we can see buying pressure.
If Buy SL hits 2 times in the zone of 204.500 - 206.543, Do not go for trade after that in that zone.
Based on every day situation bias can be changed
If it breaks and sustains below 204.500 - After retest and candle confirmation , We can become a seller.
Expecting it would go up based on upcoming economic data.
MEDPLUS - Weekly AnalysisIn the Weekly Chart of MEDPLUS ,
we can see that, it is at decision making point.
Enter on breaking Candle's High with low as SL and Go long.
Expected momentums are shown in chart.
SATINDLTD - Weekly AnalysisIn the Weekly Chart of SATINDLTD ,
we can see that, it is at decision making point.
Enter on breaking Candle's High with low as SL and Go long.
Expected momentums are shown in chart.
SRF - Weekly AnalysisIn the Weekly Chart of SRF ,
we can see that, it is at decision making point.
Selling is happening but is not strong.
Expected momentums are shown in chart.
FLUOROCHEM - Weekly AnalysisIn the Weekly Chart of FLUOROCHEM ,
we can see that, it is at decision making point.
Enter on breaking Candle's High with low as SL and Go long.
Expected momentums are shown in chart.
MOLDTECH | Simple trendline breakout and retestingMOLDTECH | Simple trendline breakout and retesting - Looks good for 40-50%
CMP : 268
SL : 240
ENGINERSIN | Beautiful cup & handle breakout ENGINERSIN | Beautiful cup & handle breakout
Very nice monthly breakout aswell.
CMP : 290
