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Candlestick Analysis

Budget Day stocks_TitanHello Traders, Good News for Gold Outlets in India, Currently Titan is trading @ Rs.3466/- on Budget day. Pros:- NDA government has Reduced Import Tax Duty on Gold for Gold buyers. * Move which has been implemented by government will make huge interest of buying in gold for retail buyers. * Seasonal Interest of buying in gold has started in India. * Titan Stock @ Multi year Support. * Bullish Candle close @ Support. * Stoploss below Recent market structure. * 3.5 % to 5 % is 1st target to option buyers. * Also buy Kalyan Jewellers India Pvt Ltd. Happy trading!!Only for educational purpose.
NSE:TITANLong
by Babujoseph77
Finnifty weekly expiry and Budget day intraday levels (23/07/24)Tomorrow it the budget day and the markets today closed in a neutral scenario, forming doji on the daily charts. Option premiums are inflated and the VIX closed gaining 4%. On 15 minutes time frame, the market has given a lower low formation and retraced back to 61.8% fib levels. If the market starts trading below 23500, good crack down can be seen upto 23410 and can travel to hit lower support zone around 23320. In case of a break out of today's high (23720), bulish trade can be entered with a strict stop loss and target of 23840. Major support zone :- 23590, 23410, 23320 Resistance levels :- 23720, 23840 Wait for the price action and a good momentum for buying the options, as there will be a good time decay in the premiums.
NSE:CNXFINANCE
by TheMamboMomentum
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.
NSE:ONGC
by TheMamboMomentum
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.
NSE:BANKNIFTY
by TheMamboMomentum
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.
OANDA:XAUUSD
by Prabu_Thor