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Gold: Buyers await triangle breakout, Fed inflationGold prices are currently stable within a triangle pattern that's been forming for a week. Traders are waiting for the US Core PCE Price Index data for August, which is the Federal Reserve's preferred measure of inflation. Gold prices have been fluctuating around last week’s record high, and technical indicators like RSI and MACD suggest mixed signals. Buyers are optimistic… Even though gold doesn’t have strong upward momentum right now, last week’s rebound from a key support level, combined with weak US data and a dovish Fed outlook, keeps buyers hopeful. Uncertainty about the global economy and central banks cutting rates also supports this optimism. Key technical levels to watch… Gold’s movement is currently limited between $2,530 and $2,504. If it breaks above $2,530 and stays above the recent peak of $2,532, it could move towards $2,600. The triangle pattern suggests an intermediate target of around $2,590. Meanwhile, a downside break of the stated triangle’s bottom line, close to $2,504, will need validation from the $2,500 psychological magnet and the previous resistance line stretched from mid-July, now support around $2,472, to convince Gold sellers. Even so, a two-month-old ascending trend line surrounding $2,427 will act as the final defense of the buyers. What next? Gold is on a positive path and could reach new highs, especially amid the dovish Fed outlook. Even if the upcoming US inflation data is strong, it might only cause a short-term dip, which could be a new buying opportunity.
OANDA:XAUUSD
by MTradingGlobal
Godrej Industries Limited - Breakout Setup, Move is ON...#GODREJIND trading above Resistance of 986 Next Resistance is at 1452 Support is at 699 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GODREJINDLong
by MandeepSinghKohli
1
Sundaram Finance Holdings Ltd - Breakout Setup, Move is ON...#SUNDARMHLD trading above Resistance of 365 Next Resistance is at 460 Support is at 260 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SUNDARMHLDLong
by MandeepSinghKohli
Kothari Petrochemicals Limited - Breakout Setup, Move is ON...#KOTHARIPET trading above Resistance of 220 Next Resistance is at 283 Support is at 167 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:KOTHARIPETLong
by MandeepSinghKohli
1
NDR Auto Components Ltd - Breakout Setup, Move is ON...#NDRAUTO trading above Resistance of 1476 Next Resistance is at 1938 Support is at 1094 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:NDRAUTOLong
by MandeepSinghKohli
Ram Ratna Wires Ltd - Breakout Setup, Move is ON...#RAMRAT trading above Resistance of 594 Next Resistance is at 765 Support is at 389 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BSE:RAMRATLong
by MandeepSinghKohli
Oriental Hotels - Breakout Setup, Move is ON...#ORIENTHOT trading above Resistance of 156 Next Resistance is at 211 Support is at 102 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ORIENTHOTLong
by MandeepSinghKohli
Sundaram Finance Holdings Ltd - Breakout Setup, Move is ON...#SUNDARMHLD trading above Resistance of 305 Next Resistance is at 365 Support is at 246 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SUNDARMHLDLong
by MandeepSinghKohli
NDR Auto Components Ltd - Breakout Setup, Move is ON...#NDRAUTO trading above Resistance of 1094 Next Resistance is at 1476 Support is at 728 Here is previous chart: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:NDRAUTOLong
by MandeepSinghKohli
1
Ram Ratna Wires Ltd - Breakout Setup, Move is ON...#RAMRAT trading above Resistance of 389 Next Resistance is at 594 Support is at 275 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BSE:RAMRATLong
by MandeepSinghKohli
3
PB Fintech Ltd - Breakout Setup, Move is ON...#POLICYBZR trading above Resistance of 1470 Next Resistance is at 1698 Support is at 1185 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:POLICYBZRLong
by MandeepSinghKohli
Bajaj Auto Ltd - Breakout Setup, Move is ON...#BAJAJ_AUTO trading above Resistance of 9877 Next Resistance is at 10789 Support is at 8775 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:BAJAJ_AUTOLong
by MandeepSinghKohli
CYBERTECH - Breakout with a good upside potentialHey Family, there is a one more stock Which is showing a great opportunity. Key Points:- * Formation of Rectangular box Pattern in Daily TF. * From Jan 2024 to Aug 2024 its in range. * From Jan 2024 to Aug 2024 Tested & Moving Resistance Many times. * It's Near resistance Zone and trying to Sustain above Resistance Zone with good volume. * Volume Accumulation (Volume is rising). What is your view please comment it down and also boost the idea this help to motivate us. We are Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature.
NSE:CYBERTECHLong
by ChartSight
1
USDJPY: Off 13-month-old support during short-term downtrendUSDJPY has bounced back from a key support level that’s been in place for 13 months but remains in a short-term downtrend. The pair faces resistance from this old support line, now turned resistance, and the 21-day moving average (SMA). USDJPY recovery appears unreal… Although USDJPY is recovering from significant trendline support of around 143.70, indicators like the RSI and MACD suggest a strong bullish trend may not be likely. Additionally, market uncertainty before upcoming Japanese economic data and the US Core PCE Price Index (a key inflation measure) adds to the uncertainty. Key technical levels to watch… USDJPY pair’s recovery appears less convincing unless it crosses the 200-SMA hurdle of 151.20. That said, the 21-SMA and the multi-month-old previous support line, respectively near 146.40 and 149.80, quickly followed by the 150.00 threshold, will challenge the buyers before giving them control. On the contrary, a daily closing beneath the 143.70 trend line support will direct the USDJPY bears toward the late 2023 bottom surrounding 140.45 and the 140.00 psychological magnet. In a case where the prices remain bearish past 140.00, an area comprising levels marked since March 2023, close to 137.90-70, will be the last defense of the buyers. What next? USDJPY is at a critical support level. A short-term bounce is possible, but the chance of further declines is higher unless the pair breaks through the 151.20 resistance.
by MTradingGlobal
GBPJPY bulls need validation from 192.00 and Japan dataThe GBPJPY currency pair is making gains as it moves within a two-week upward trend, showing renewed optimism early on Tuesday. This rise supports the bullish trend that started in early August and counters the previous indecision seen last week. Currently, GBPJPY is trading above the 100-day moving average and has broken through a six-week-old downward resistance line, which now acts as support. The steady RSI also adds to the positive outlook. For the bullish trend to continue, GBPJPY needs to break above the upper boundary of the ongoing triangle pattern, near 192.00. If this happens, the next significant hurdle will be the 200-day moving average at 194.55. A break above this could push prices toward the late July high of around 199.50 and possibly even the 200.00 mark. On the downside, key support levels are around 189.80, 188.65 (100-day moving average), and 186.50 (previous resistance line). If GBPJPY falls below 186.50, it could drop to the monthly low of 180.10. Besides technical factors, GBPJPY buyers should also watch for upcoming data releases on Tokyo inflation, Japan's industrial production, unemployment rate, and retail trade this Thursday.
by MTradingGlobal