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5th Dec 2024 Crazy stoploss hunting & Injections - Nifty50Nifty Stance Bullish ⬆ This week Nifty is up 577pts ~ 2.4% which means our stance has changed from neutral to bullish. The price actions on Monday, Tuesday and Wednesday were well received and there was sanity in the markets. What happened on the 5th, Thursday is sure to give you shivers. We saw a 560pts ~ 2.31% intraday rally from LOD to HOD and then a fall of 362pts ~ 1.46% back to the 24500 levels. To put that in perspective, 24600 was the expected closing levels for Today's expiry as per the OI chart, so the violent upmove would have created a lot of MTM loss pressure for the institutions. My guess is that they had to manipulate and bring back the markets below 24600 after 14.30 so they could square off their positions in profits. Anyway, today's volatility is a massive learning experience for all option traders. Chances are, their stop losses would have gone off both ways, first on the long side and then on the short side. The only people who might have escaped would be the hedged traders - either a debit/credit spread or a iron condor/fly. The worst nightmare would have been for long/short naked positions. If we fall below 24525, I will change my stance back to neutral-until then, I will stick with a long bias. The MPC meeting on the 6th will definitely have an impact, as it is a make-or-break event for Mr. Shaktikanta Das.
NSE:NIFTYLong
by viswaram
Gold resuming the decline As discussed in last week posts and weekly analysis video also, price is resuming the decline cycle and seems like breaking down the rising wedge pattern, On Friday gold price tested the fib 50% level and now moving down , 2650-65 is the main resistance zone now and under this we can look for sell opportunities , today we have extreme narrow CPR which can add a very good one sided move, as I am holding sell trade from last week I am expecting a test near 2600 area first where I am planning to book profit partially from some positions because under 2600 we have weekly S1(2596) where we can expect a short bounce (but I do not want to buy as of now) and I want to hold rest of the sell entries towards 2530. If bears managed to close the day under 2600 then this can add another confirmation for more decline.
OANDA:XAUUSDShort
by iambalramkashyap
Gold is in Range : Sell is still favourable Gold price is consolidating within the 2,620-2,650 range for the last five trading days, we have seen multiple attempts by gold on 2650 Level but failed to sustain above this level. Today also gold trading in a narrow range of 2634-2644,remaining near yesterday's closing price, On the hourly chart we can see that price is forming a tringle structure and breakout from this structure in any side can generate good move, as we are in correction so Probably, the main scenario is a continuation of the downward movement to 2620 and if breakdown from there then we can see price under 2600 soon.
OANDA:XAUUSDShort
by iambalramkashyap
Technical analysis of the Nifty 50 Index The chart presents a technical analysis of the Nifty 50 Index using various indicators and patterns. Here's a detailed breakdown: 1. Price Chart • Falling Wedge Pattern: The chart identifies a "Falling Wedge," a bullish reversal pattern where the price is consolidating within a narrowing downward-sloping range. Breakouts from such patterns usually indicate a potential upward movement, which seems to have occurred here. • Breakout: The price has broken above the upper boundary of the wedge, suggesting bullish momentum. 2. Volume Analysis • The Volume bars show increasing green bars toward the breakout. This is significant as rising volume on a breakout strengthens the validity of the upward move. 3. MACD (Moving Average Convergence Divergence) • The MACD histogram and lines show bullish divergence, where the MACD moves higher despite the price moving lower. This indicates weakening bearish momentum and a potential reversal. • Current MACD values are positive, confirming bullish strength post-breakout. 4. RSI (Relative Strength Index) • The RSI indicator is trending upward at 72.38, indicating a move into the overbought zone. This could mean the momentum is strong, but the price may consolidate or retrace slightly soon. 5. ATR Trailing Stop • The ATR Trailing Stop (green line) appears below the price, signaling a bullish trend. This is a dynamic support level often used to set stop-loss levels in trending markets. 6. Support and Resistance Levels • Resistance: The chart shows resistance around the 24,537–24,701 zone. The price will need to break this for further upside. • Support: The 23,263 level acts as a major support. Any retracement may find buyers near this zone. Conclusion: • The overall setup is bullish with a strong breakout from the falling wedge pattern, supported by rising volume and bullish divergences in MACD and RSI. • Traders might look for further confirmation of strength above 24,700 for continuation, but overbought RSI suggests caution for potential consolidation or pullbacks.
NSE:NIFTYLong
by ramumaurya
XAU/USD at Crossroads: Breakout or Pullback?XAU/USD Multi-Timeframe Analysis - 15-Minute Chart (Intraday Perspective): - The 15-minute chart highlights a series of Breaks of Structure (BOS) and Change of Character (CHoCH), signaling dynamic shifts in short-term momentum. - The latest CHoCH at the top suggests a potential exhaustion in the upward move, with sellers gaining temporary control. - Key Levels: - Support: $2,645 - Resistance: $2,656 - Conclusion: Expect consolidation or a slight pullback before any continuation of the trend. Watch for a confirmed BOS or CHoCH for clearer direction. - 1-Hour Chart (Mid-Term Analysis): - The 1-hour timeframe shows a downtrend structure transitioning into consolidation, as BOS patterns indicate bearish dominance, but CHoCH signals hint at potential reversals. - The price is currently consolidating within a range of $2,630 to $2,656, with no clear breakout yet. - Key Levels: - Immediate resistance: $2,656 - Support: $2,630 - Conclusion: A breakout above $2,656 would confirm bullish strength toward $2,670, while a breakdown below $2,630 may lead to a retest of $2,615 or lower. - 4-Hour Chart (Macro Perspective): - On the higher timeframe, XAU/USD displays macro bearish momentum, with BOS to the downside being dominant. However, the recent CHoCH highlights a potential shift into a bullish correction. - The price remains capped by the $2,656 resistance zone, with significant support around $2,630. - Key Levels: - Support: $2,615 - Resistance: $2,670 - Conclusion: The market is at a decision point. A sustained move above $2,670 could trigger bullish continuation toward $2,700, while a failure may lead to further bearish retracement. - Overall Outlook - Gold is trading within a consolidation phase, with structural shifts (BOS and CHoCH) indicating indecision between buyers and sellers. - Trade Plan: - For bullish scenarios, wait for a confirmed breakout above $2,656-$2,670 for a potential target of $2,700. - For bearish scenarios, look for rejection at resistance zones and breakdowns below $2,630 for short opportunities toward $2,615 or lower.
OANDA:XAUUSD
by EliteTradersChoudharyJI
Gold Trading Strategy for 06th December 2024Trading Strategy for Gold: Sell Strategy: Entry Point: Sell below 2623. Targets: First target at 2605, second target at 2586. Buy Strategy: Entry Point: Buy above 2641. Targets: First target at 2657, second target at 2699. Disclaimer: Trading in financial markets involves substantial risk of loss and is not suitable for every investor. The strategies and opinions expressed are those of the author. Users should perform their own research and consult with a financial advisor before making trading decisions. Past performance is not indicative of future results. Trade wisely and stay informed! 📈💡
OANDA:XAUUSD
by ramkkyy
PAYTM - Time for it to go up?? - BOLD VIEW!Price Analysis & Overview: 1. Price is showing strength 2. Price structure change confirmation is still pending. 3. 600 area is critical. 4. Must be on radar. 5. Can be a potential multi-bagger! 6. I will plan an entry only after confirmation. - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. I share whatever I do. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:PAYTM
by SuperNova396
ONGC - Great Price Action Stock to Study!Retracement would be better with that said aggressive entry can also be found in the Daily time frame. I will be posting the same in the follow-up trade soon... - Stay updated for further insights and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:ONGC
by SuperNova396
2
AGI on the RiseAGI has shown significant volatility in recent months, responding to broader market trends, investor sentiment, and various macroeconomic factors. As of the latest trading data, AGI is positioned to explore further upside potential while establishing key support levels that investors should monitor. The long-term outlook for AGI appears predominantly bullish with a suggested price target of 1972 , underpinned by a strong support level at 888 . Investors, keep a close watch on significant price action around these levels. Disclaimer: The information presented in this technical analysis report is intended solely for informational and educational purposes. It should not be interpreted as financial advice or a recommendation to buy or sell any securities. It is imperative for investors to conduct their own due diligence and research before making any investment choices.
NSE:AGILong
by NiftyNotions
KSOLVES INDIA - Price Observation & Overview1. Price is consolidating for now. 2. I need a strong BO candle to plan a good entry only if I had to! 3. Earnings are strong. 4. Volumes are dry. 5. Too many doji/ undecisive candles on weekly tf is a red flag for me in any stock. Generally, I avoid positions where wicks are excessively long on weekly timeframes. - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:KSOLVES
by SuperNova396
3
IGL - Testing ATH levels - Not very strong yet!Price Analysis & Overview: 1. Outlook is bullish but conviction is not string due to the price strength lack 2. Volumes are not great! 3. Price is not showing strength as expected. 4. Possibly it will retrace before bouncing back to breath the ATh levels - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. I share whatever I do. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:IGLLong
by SuperNova396