Chart Patterns
SHORT BTCPattern Observed: Head and Shoulders
Left Shoulder: Formed with lower highs.
Head: The peak point of the pattern.
Right Shoulder: Slightly lower high, confirming the pattern.
Neckline: A horizontal support line at approximately 96,000 USD.
RSI Divergence
RSI shows a downward trend while price action forms higher highs during the head. This bearish divergence indicates potential weakness and supports the Head and Shoulders reversal.
Navin Fluorine International LtdDescending triangles are generally considered bearish patterns, as the consistent selling pressure (lower highs) often leads to a breakdown below support. However, breakouts in the opposite direction can also occur. Hence, Trading Strategy for Descending Triangle in Navin Fluorine International Ltd:
1. Bearish Scenario (Breakdown below ₹3,200):
Entry: Short-sell if the price breaks below ₹3,200 with strong volume.
Target: Measure the height of the triangle (₹3,700 - ₹3,200 = ₹500) and subtract it from the breakdown point:
Target = ₹3,200 - ₹500 = ₹2,700.
Stop-Loss: Place a stop-loss just above the breakdown point, around ₹3,300.
2. Bullish Scenario (Breakout above ₹3,600):
Entry: Buy if the price breaks above ₹3,600–₹3,700 with strong volume.
Target: Use the height of the triangle for the upside target:
Target = ₹3,700 + ₹500 = ₹4,200.
Stop-Loss: Place a stop-loss just below ₹3,500 or the breakout candle's low.
Market will Crash ?As of January 7, 2025, the Nifty 50 index is approximately 9.75% below its all-time high, trading around 23,707.9 points.
Historically, the Nifty 50 has experienced multiple corrections exceeding 10%. Since 2006, there have been 18 instances where the index corrected by more than 10%.
Technical analysis suggests that the Nifty is currently trading within a widening triangle pattern, with key support levels at 23,500 and 23,250. If selling pressure persists, the market may witness an additional short-term decline of 500 to 700 points.
Given these factors, it's plausible that the Nifty 50 could experience a further decline, potentially reaching a total correction of around 12-15% from its all-time high. However, it's important to note that the actual economic impact of current concerns, such as the human metapneumovirus (HMPV), is expected to be limited, as the post-COVID economy is better equipped to handle such outbreaks.
Market corrections are a natural part of market cycles, and the Nifty 50 has historically demonstrated resilience, often recovering and reaching new highs over time. For instance, in 2008, it took over 1,000 days for the Nifty to recover from a significant fall.
Investors should consider their individual risk tolerance, investment horizon, and financial goals when making decisions. Diversification and a focus on fundamentally strong companies can help mitigate risks during market downturns.
Technical Analysis of Gopal Snacks Ltd....TRADE FOR LATERINVEST BEFORE READ CAREFULLY / TAKE TRADE ON YOUR OWN RISK
RISK~REWARD PROFILE = 5.91:1
NSE:GOPAL SANEKS Technical chart Observations:-
~Price Correction:-
The stock corrected around 29%, possibly due to the negative news (fire in a warehouse).
The price appears to be approaching a strong psychological support level at ₹335.
~Pattern Formation:-
A potential Head and Shoulders pattern is visible, signaling a bearish reversal that already played out.
The price dropped significantly post-pattern completion.
~Support Level:-
Key support is around ₹322.80, which is highlighted as the entry point for a possible bounce.
Stop-loss (SL) is marked at ₹304.50 to limit downside risk.
~Target Levels (TP):-
~TP1: ₹362.30
~TP2: ₹386.35
~TP3: ₹430.95
~Volume:-
The trading volume on the recent downtrend is moderate, indicating cautious selling.
~Trend:-
Currently in a downtrend but nearing a critical psychological support zone.
Trading Strategy:
Wait for Confirmation: Enter the trade only if the price shows a clear bounce or reversal signs at the ₹322.80 level.
~Risk-Reward:-
Stop-loss: ₹304.50 (downside ~₹18.30 per share).
Target 1 (TP1): ₹362.30 (upside ~₹39.50).
Risk-reward ratio is favorable if TP1 is achieved.
~Notes:-
This is a counter-trend trade (going against the dominant downtrend), so caution is advised.
Monitor closely for any trend continuation or reversal indicators (e.g., candlestick patterns or volume spikes).
The highlighted targets (TP1-TP3) should be treated as milestones—book partial profits at each.
Final Note:
This chart suggests a well-structured trade setup, but execution depends on confirmation of price action near the support zone. Traders should monitor market sentiment, news updates, and technical signals before entering the trade.
Disclaimer:
I am not a SEBI-registered advisor. These levels are for educational purposes only. Please trade at your own risk. Consult a professional financial advisor for tailored advice. Like and share if you found this helpful!
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Elliott wave count: we are in Wave 4-5I will present my way of counting Elliott waves to identify the upcoming local top of BTC. Each Elliott wave researcher and practitioner will have their own way of counting, and each counting method has its own basis and weaknesses. I hope to receive feedback from traders who use the Elliott method. For those traders who do not use this method, please feel free to refer to it if you find it interesting or useful.
1. BTC has broken the downtrend from the end of 2021, and I consider the start of the impulse wave to be late November 2022. Wave 0-1 extended until April 2023.
2. The duration of Wave 1-2 is not shorter than the duration of Wave 0-1, therefore Wave 1-2 ended in August 2023.
3. Using ExFibo, I determined that Wave 2-3 = 1.618 Wave 0-1. Wave 2-3 ended in March 2024.
4. The duration of Wave 3-4 is not shorter than the duration of Wave 2-3, therefore Wave 3-4 ends in September 2024.
5. The most important thing right now: predicting Wave 4-5.
Wave 2-3 was larger than Wave 0-1 so there is no limitation for Wave 4-5. I can list some cases that we can follow:
a) Wave 4-5 = Wave 0-1 => BTC may form a local top at ~$103K.
b) Wave 4-5 = Wave 2-3 = 1.618 Wave 0-1 => BTC may form a local top at ~$155K.
c) Wave 4-5 = 1.618 Wave 2-3 = 2.618 Wave 0-1 => BTC may form a local top at ~$295K.
GICRE - Break out RETEST - LONGGICRE broke out and made ATH with huge volume on 20-Dec-2024. Since then, it retraced with lower volumes and touched 20 DEMA and the BO Zone as well. Today (7-Jan-2025), showed signs of consolidation end with a bullish candle OPEN=LOW, relatively wider body and higher volumes.
Gold 01.07,continues to be profitable and has a strong uptrendReshaping Strategy Following Trump’s Statements and the Strong Volatility in GOLD
Fake news caused market chaos at the start of the week:
The talk of Trump easing tariffs was not an official statement from Trump himself but rather a report by WaPo (Washington Post). It appeared as though WaPo "put words in Trump's mouth," steering public opinion in their favor.
From Trump's statements, the following key points can be derived:
Key Points:
Trump suggests lifting Biden's oil drilling ban:
U.S. oil producers are likely to return to the market more strongly.
A significant drop in oil prices can be expected.
Inflation could be better controlled, which is favorable for GOLD.
Trump denies the WaPo report:
While Trump denied the WaPo report, it doesn’t carry much weight as the report wasn't based on his actual statements.
Trump's tariff plan remains intact.
This back-and-forth between WaPo and Trump caused strong and unexpected volatility in the GOLD market.
Trump made no mention of tariffs in his latest remarks:
Current tariff policies do not place pressure on GOLD.
This is considered a stabilizing factor for GOLD.
Admin maintains a bias toward a rebound in GOLD. Wait for a slight pullback in GOLD prices to look for new buying opportunities.
Market Environment and Developments:
DXY (Dollar Index): Slight decline after the PMI data release.
Fed Official Cook: Suggests reducing interest rates to neutral levels is appropriate.
Trading Strategy:
BUY SCALP ZONE: 2624 - 2622
SL (Stop Loss): 2620
TP (Take Profit): 2630 - 2636 - 2640
SELL SCALP ZONE: 2656 - 2658
SL (Stop Loss): 2661
TP (Take Profit): 2652 - 2648 - 2645
BUY ZONE: 2615 - 2613
SL (Stop Loss): 2608
TP (Take Profit): 2620 - 2624 - 2630 - 2638 - 2644 - ???
SELL ZONE: 2662 - 2664
SL (Stop Loss): 2668
TP (Take Profit): 2658 - 2654 - 2650
The current price is fluctuating between both ends within a large range. Yesterday, we captured nearly 300 pips with the two BUY/SELL zones outlined in the admin’s plan. Today’s price is awaiting news, making predictions challenging. Please refer to the zones noted in the plan and analyze the chart to optimize your trades.
Note:
Always set TP (Take Profit) and SL (Stop Loss) to protect your account. Good luck!
Nifty Key Breakout Levels to Watch for Bullish or Bearish MoveHello guy's i hope you all will be doing good in your trading and your life as well today i have brought again Technical Analysis of Nifty 50:- Critical Levels to Watch.
The Nifty 50 index is currently consolidating in a well-defined pattern, with clear support and resistance levels in play. Here's the detailed analysis:
The price action is forming a descending channel, with a falling resistance line acting as the key barrier for upward movement. A breakout above this resistance can trigger bullish momentum, with targets at 23,966 (1st target) and 24,140 (2nd target).
On the downside, the support zone holds significant importance. A breach below this zone could open doors for further selling, with the next target at 23,464.
Key levels to monitor:
Stop Loss for Buying: 23,575
Stop Loss for Selling: 23,782
Here’s what happens:
Bullish Scenario: A breakout above the resistance will likely lead to a test of the mentioned targets, signaling a potential trend reversal.
Bearish Scenario: A breakdown below the support zone could signal bearish continuation, targeting the lower levels.
Outcome:
Watch for volume spikes during the breakout/breakdown to confirm the move.
Adhere to the stop-loss levels to manage risk effectively.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
If you found this analysis insightful, don’t forget to hit like and follow for more such content!
For related trading ideas and educational posts, check out our profile TraderRahulPal Let’s learn and grow together!
IEX - Is it done correcting? IEX has filled the Fair value gap of 168-171 level and price is rejected from this fair value gap.
There is a gap at 163-165 level that needs to be filled for it to move up efficiently. 163-165 level provides a great risk reward set up.
Have to wait and see if we will fill this gap and then move up.
IEX - Is it done correcting? IEX has filled the Fair value gap of 168-171 level and price is rejected from this fair value gap.
There is a gap at 163-165 level that needs to be filled for it to move up efficiently. 163-165 level provides a great risk reward set up.
Have to wait and see if we will fill this gap and then move up.
BTC is gaining momentum to rise.
Judging from the recent decline of BTC from the high of $108,318 to the low of $92,458, the price tested multiple Fibonacci levels during the rebound. Among them, the 0.5 level ($100,388.32) has become a key support level at present, while the 0.618 level ($102,259.76) as an important resistance level limits further rise in the short term. The current price is hovering around $100,344, indicating that the market is looking for a directional breakthrough.
Previously, the BTC price ran along the descending channel, reaching a minimum of $92,542.93 before gradually stabilizing and breaking through the upper edge of the channel. At present, the price has entered a sideways consolidation range ($98,000-$101,000) and is trying to form an upward trend on this basis. If it can break through the upper edge of the consolidation range and stand firm, BTC may challenge the target of $105,000 or even higher.
The chart shows that the price may experience a small correction in the short term, but the overall upward trend is more likely, especially after breaking through the key resistance of $102,259, the upward space will be further opened. The support area below is concentrated around $99,560 and $97,735. If the price falls back to this area and stabilizes, it will be a good opportunity to buy at a low point.
Investors need to pay close attention to market dynamics and breakthroughs in key technical levels, while reasonably controlling risks and formulating clear stop-loss strategies. BTC's current consolidation pattern indicates that there may be large fluctuations in the short term.
Breakout @ AIIL
STOCK: Authum Investment & Infra Ltd.
SETUP: The price faced resistance of 1900, and finally gave a breakout and sustained above the same level, The breakout candle has a noticeably high volume.
PLAN: Entry: Above 1988, Stop: Around 1900, Target: 1:2 or 1:3
NOTE: I am not SEBI registered # For learning purposes only # Manage your risk
Buy Oppertunity in KAJARIACERWhy the current level and good for Long?
Stock is currently reacting from
1 ) Monthly Demand Zone
2) Weekly Demand Zone
3 ) Daily Demand Zone
Demand zone has support of 3 Monthly EMA ( Marked as Pink line on Chart )
Good Risk reward ratio.
Taeget till next Weekly Supply zone.
Entry, Target and SL are marked on the chart.
Nifty key levels for 08.01.2025Nifty key levels for 08.01.2025
If Nifty breaks the upper or lower range, we can expect momentum. The consolidation zone will be favorable for option sellers, while a breakout on either side will benefit option buyers.
Disclaimer:
These views are purely educational in nature. You are solely responsible for any decisions made based on this research.