GOLD, Buy or Sell ?As of 21st May 2021
Current Trend: Upward
Start of Upward trend: 31/3/21
RSI: Around 72
MACD Crossover: Shortline over Longline (Blue over red)
MAE: Stock trading above 26 Day moving average
Current Resistance level: 1861-1863
Bollinger Band: Currently trading near (1.618) level of BB, which also serves as a current resistance level.
The price has broken the current resistance level and (1.68) Bollinger Band level but it has not broken it with volume also it constantly is making Doji and Spinning top candles which are neutral and indecisive candles. These candles also indicate a possible trend reversal.
Moreover, the strength of newly formed candles is constantly decreasing.
Analysis: The prices of Gold can decrease in the coming future up to the levels of 1835-1837.
Go short once the level of 1861-1859 is broken with volume.
(One principle which I also kept in mind during analysis is the hype in the market related to the rising prices of gold.)
Feel free to comments below...
Candlestickpattern
AMBUJA CEMENTS, Uptrend over ?Ambuja Cements as on 19/5/21
Overall Trend: Upward
Currently trading in an upward channel range.
Current situation: Behaving like in sideways trend
RSI: 59
MACD: Not indicating clear signal
Current Horizontal Resistance level: Around 318 price levels
Note: According to a single candlestick pattern, A hanging man is formed in an upward trend with a high volume and current stock prices also seem to be at a horizontal resistance level.
Analysis:-
1. Since hanging man is formed, so it might be a trend reversal signal, so wait till the lower trend line is broken with heavy volume before entering in a short position.
2. Since a heavy investment is done today in Ambuja cement, it may be a possibility that stock resumes its upward journey so wait for the price to close above the horizontal resistance with volume before going long.
Coal India consolidation (Part 2)This is an update to my previous view.
As we can see after the formation of evening star pattern Coal India has started to consolidate. I don't see any further push into the remaining days till expiry this month.
It has a good support around 144. And will give a good buying opportunity if it further falls to 140 and below.
It is a also good opportunity for a short straddle on the current level for a quick scalp with properly defined stop losses.
HEROMOTOCORP AT VERY IMPORTANT LEVELOne can intitate Buy position in HEROMOTOCORP with target of 3000
SHAKTIPUMP Weekly Chart AnalysisOn weekly chart Shaktipump
Triangle Breakout
Fibonacci level breakout &
Presence of Doji and Bearish Engulfing candle
Please comment your view !!!
No Trade Suggestions !!!
Thank you
A morning star with huge volume.Buy above the candle highExpecting some retracement downside.Go long after some retracement or buy above the last candle's high if it breaks immediately with a proper stoploss and target as mentioned above.
WATCHOUT FOR THIS!!!Again, this stock was on my list from past month where it had to be accumulated and it has finally come out of the consolidation zone, it looks likely to give a breakout over 560 this week, make your positions on the long side with the mentioned stop-loss, stock has a lot of potential and can actually surpass it's all time highs!
A clear breakout in Lincoln PharmaWith the surge in volume, this stock is clearly a hot pick for positional trade. The only concern is that it has back to back green candle with a higher high and higher lows which mean that there is a chance of retracement in the stock. So either you can pick the stock while it retraces or can be taken in few quantities and do averaging while it retraces.
As it is near its all-time high you can put your own target with Trailing Stoploss.
This stock can also be picked for long term investment as it is a fundamentally strong Pharma company.
ntpc rocketevery thing is on the chart
after commodity boom much awaited energy sector boom is arriving and will be here to stay .
in 2024 you ll look at current prices as if u are standing on top top of Burj khalifa and looking at the ground
don't miss it
Aarti ind shortAarti ind short
Bearish engulfing Candlestick pattern
Wait for close below 1680
Sell at- 1675
SL-1820
Target open
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
STATE BANK OF INDIANSE:SBIN
⚪ Seems like Break out has happened.
⚪ Buy above 350.55, If price manage to close above 350.55.
⚪ Or buy at pull back of 342.70 level.
⚪ SL according to the risk.
🔴DISCLAIMER : This is just for educational purpose....
View on NIFTY➡ Nifty took support from the demand zone
➡ "Bullish Harami" has formed above the support
➡ Right now Nifty at a correction phase
➡ Nifty needs to break the channel to go up
➡ Due to Covid situation Nifty showing some weakness
➡ Hence, Nifty may fall
⚪ NIfty needs to close above 14938 to go up further
⚪ 14281 is a strong support
⚪ If it closes below 14281 next support will be at 13760
🔴 DISCLAIMER : This is just for educational purpose....
DLINK BULLISH SETUPD Link looks positive as it is have a strong support near 98 level. One can add this stock for a short term purpose.
Entry- 98- 99
Target- 107-114
Stoploss- 95.8 Closing Basis
Bullish engulfing pattern in daily chart.Go longA bullish engulfing candle after a small correction in daily chart.May occur a hammer candle in weekly chart.A short term buying opportunity with the targets and stoploss as mentioned.
Rsi bullish divergence.Go longA good reversal candle formation at the support zone with Rsi Bullish divergence indicates some up move in the price.Buy above 103.40 with the target and stoploss as mentioned.
FEDERALBNK,4HrAs per trend and the candlestick pattern analysis buy signal is very strong but if market open above the minor resistance go for buy otherwise wait for breakout of resistance at this situation market is at resistance level
Nifty Fall still expected toward 13700??Seems like Nift forms a kind of Head and shoulder pattern. and there could be possibility of NIFTY stopping at 13750 Level. Lets wait and see where market has to head us in coming days.
Keep Learning.
TITAN,1HrAs per the Trend and Candlestick pattern analysis market will fall down will try to hit the support level
TITAN,1HrAs per the candlestick pattern and trend analysis the hanging man is at resistance market will reverse from resistance will try to hit the support
Lecture-2 Candestick patternThis is the second lecture of the series "basics of the stock market". In this class, we will discuss few candlestick patterns and will try to identify those in the chart.
