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GBPUSD bears lurk behind 1.2000 to retake controlGBPUSD braces for the first weekly gain in four as 200-EMA and a two-week-old support line defends Cable buyers. However, multiple failures to cross a one-month-long horizontal hurdle keep the sellers hopeful of breaking the 1.2000 key support. Following that, not only the ball could drop on the bear’s court for the fourth consecutive weekly fall but the pair might also portray a quick slump to the mid-1.1700s. In a case where the quote remains weak past 1.1700s, the early November swing high surrounding 1.1550 and November 09 low near 1.1355 could gain the market’s attention. Alternatively, the aforementioned fortnight-long horizontal resistance area near 1.2130 restricts the short-term GBPUSD upside. Should the quote Cable pair crosses the nearby hurdles, the early-month peak of 1.2345 and the monthly high near 1.2445 will be on the bull’s radar while aiming for a positive end to the volatile 2022. Overall, GBPUSD is ready to return to the bear’s desk after a brief absence.
by MTradingGlobal
AUDUSD teases bears amid China-inspired risk aversionAfter closing a positive week on the red side, AUDUSD remains on the bear’s radar as it broke a short-term symmetrical triangle, as well as the 50-SMA. However, the bears need a clear downside break of the previous week’s bottom surrounding 0.6580 to keep the reins. In that case, the downward trajectory could aim for the 200-SMA level surrounding 0.6475. During the fall, the 0.6500 round figure may act as intermediate halts. Alternatively, a convergence of the previous support line and the 50-SMA, around 0.6700, holds the key to the buyer’s entry. Following that, a downward-sloping trend line from November 15, close to 0.6770 could challenge the upside momentum. In a case where the AUDUSD pair remains firmer past 0.6770, the monthly high and 61.8% Fibonacci Expansion (FE) of 10-21 November moves, respectively around 0.6800 and 0.6840 will be in focus. Overall, AUDUSD is likely to remain weaker unless rising back beyond 0.6770.
by MTradingGlobal
Indices ignore global cues, end on a bearish noteNIFTY 50 EOD ANALYSIS 29-11-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17055.80 H 17160.70 L 16782.40 C 17053.95 EOD +27.60 points / +0.16% India VIX 20.83 SGX Nifty 29-11-21 @ 1900h = -46 points FII DII = Not yet available CHART BASED CONCLUSIONS using 5 Minutes Chart Taking strong global cues in to account, Nifty opened with a mild gap up and as usual immediately sold off as FIIs were net sellers on 26 Nov. It evinced buying interest around 16780 and made a smart recovery and hit the first resistance at 17100 and then retraced a bit and then again at 17160 and then fell yet again after being sideways for a long time. It barely managed to end above 26 Nov close by a few points as a token of respect to the global cues. Nifty has thus made a lower high and a lower low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 65 Top 5 Draggers contributed = 30 Net = +35 POSITIVES Nifty managed to close in green is the first positive. Some of the leading scrips - Reliance, HDFC Bank, Kotak Bank, TCS, and Bajaj Finance were the leaders today. This is a good mix of Reliance, Banking & Finance, and IT. Bank Nifty bounced back up from its 200 DMA which is a good sign even though it ended in the red. In the process, it also held above its 50 Weekly MA. NEGATIVES Bank Nifty underperformed Nifty on account selling pressure in ICICI Bank and Axis Bank. HDFC remained under selling pressure today as well. The global cues are positive and yet the indices ended this way is not a good sign. TRADING RANGE FOR 30 NOV 21 Nifty Support = 16500-16700 Nifty Resistance = 17100 and above until 17500 is taken out on closing basis. Bank Nifty Support = 35000-35200 Bank Nifty Resistance = 36000-36200-500-800 INSIGHTS / OBSERVATIONS I find it a bit strange that a one liner from a South African medical agency stating the variant is just a sound alert and anot an alarm has made the global markets so much positive. I am neither a market maker nor a medical pro so I am confused with this one liner exactly like how the Bulls of the Indian stock markets are. Despite the global markets being positive, somehow our market participants could see what is not visible to the world as re Covid variant is concerned. A dismal EOD performance is indicative of the underlying bearish tone of the markets. Nifty could end in the green only because of Reliance as its contribution is 21 points. This also explains what may happen tomorrow if our Indices choose to ignore the global cues tomorrow as well. What do you feel about this? Thank you, and Happy Money Making! Umesh 29-11--21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
My simple way of growing capital base leading to Wealth creationThis is how I grow my capital base leading to wealth creation Note: This post is meant specifically for retail traders and or investors like me who may not have or may not have and or deploy a significant part or entire capital to the stock market. So please read the post with this in mind. I am sharing my way of doing things or what I would do to better manage my available capital and progressively grow and eventually compound it. One of the better ways to manage gains and compound wealth is to invest gains made back into the markets in the shares of companies that have growth potential and or offer good dividend yield. Sometimes such companies are also known as those that belong to the Sunrise sectors. This may not be entirely applicable to those who trade for a living. For example, I have of late been investing my gains in the following: Burger King Westlife Development EI Hotels Zomato IRCTC Idea and would like to add: NTPC Powergrid BPCL REC Ltd PFC Ltd Pidilite Jubilant Food Dmart And there could be many more to the list. Some of the above are trading around good price levels so even more attractive than others. There may be several more names but my gains are not infinite at the moment and I "trade for a living" in reality so I have to first take care of my monthly outgoings and then the remainder gains are only eligible for reinvestment. This sounds very easy but it is not so as one can never say that trade may always go in the intended direction right from the word go. It is quite possible that the trade may hit my SL and then go in the intended direction and I may not be on board. These uncertainties are part of the life of a trader whereas an investor may be able to wait for the price to rebound or may have spare funds to deploy at lower levels. If you believe that you like this approach, you may follow these names or find the ones that you feel may be the future leaders! --- Another approach that I prefer to follow is to do content-based trading --- where there you need to identify a scrip in which you would like to invest. Preferably for positional or long term. Plan trades such that you can buy at least 1 share of the chosen scrip once the share price moves in your direction. This will help you track the share in a better manner and add the quantity that you are comfortable with as soon as the price starts going up. For this to be successful, the share price should ideally be between 200-500 and the daily movement or the volatility should be good enough for the prices to generate a modest to decent return in INR terms. This is meant specifically for traders/investors with low capital or low-risk appetite. I got this idea last year when going was extremely hard for many of my friends and acquaintances. Several of them asked me to help them find a job - when there were no jobs, the only thing that I could suggest was this and I taught them how with the help of technical analysis, one can attempt to make two ends meet and put food on the table for the family. I had at that time guided them to follow the above approach with very limited capital deployed. This helped many to fund the weekly needs without taking on too much stress on the head and in the heart. I was very satisfied that my thoughts and suggestions were effectively put to use by many of them and they were able to relieve their family members of worries and anxieties as well. On the auspicious day of Diwali and the New Samvat Year, I thought of sharing the above-mentioned thoughts that I and a few others have put into action. I wish you and your loved ones brighter and sparkling times ahead! 🙏🙏 Umesh 5-11-21
NSE:BAJFINANCELong
by AVENUESOFINVESTMENT
Brent oil sellers look for $68.00 retestEscalating covid woes weigh on commodities while downbeat China data exerts additional pressure on the Brent oil prices during early Monday. Also favoring the oil sellers could be the quote’s U-turn from 50% Fibonacci retracement of early August upside, followed by a break of the one-week-old rising trend line. Hence, the Brent oil prices are all set for further weakness towards a horizontal area near $68.00, comprising lows marked in the last one month. However, oversold RSI conditions may challenge the bears afterward, if not then 61.8% Fibonacci Expansion (FE) of the current month’s drop and pullback around $67.15 will act as an extra filter to the south. Meanwhile, corrective pullback needs to cross the support-turned-resistance line near $71.65, a break of which should direct oil buyers towards the 100-SMA level of $72.90 and then to the $73.00 round figure. In a case where the Brent bulls stay dominant past $73.00, $74.20 and the monthly peak surrounding $76.60 should return to the chart.
TVC:UKOILShort
by MTradingGlobal
CORONA or Stocks: 2nd Wave Always hits hardCOVID has impacted our lives in so many ways and Stock markets were no exception which saw drastic falls and steep recoveries as well. SO I have tried to make a correlation between both. Major scrips saw a minor downtrend which lasts for few weeks with minor corrections. Similarly COVID 1st wave caused saw minor casualities for few weeks. The scrip entered into the resting phase with no major movement like COVID. Then came the big fall where prices corrected upto 50-60% , this 2nd falling wave was stronger than ever and had major casualties like COVID 2nd wave. Wave 1 of recovery started and prices goes back to pre-COVID levels. 2nd Wave in uptrend was even more stronger to fuel the prices in a drastic manner. Major scrips gained more than 70-80% price rise. Chart is self-explanatory.
NSE:UPL
by finalyticsbreweries
Canadian dollar rises ahead of GDPThe Canadian dollar continues to drift this week. In the European session, USD/CAD is trading at 1.2037, down 0.08% on the day. Canada's economy is expected to have surged ahead in the first quarter of the year. GDP grew at an impressive rate of 9.8% (YoY) in Q4. The consensus for Q1 stands at 6.8%, which would bring growth close to pre-Covid levels. These GDP figures are impressive, but should be taken with a grain of salt, as that they are in comparison to figures from a year ago, when Covid was at its height and caused a steep economic downturn. The economic recovery has been fuelled by a resurgence in exports and the strong housing market. Interestingly, the recovery has forged ahead largely without the support of consumer spending, a key driver of economic growth. Strict lockdowns have put a crimp in consumer spending, but pent-up demand is expected to translate into a surge in consumer spending later n the year. Canada's Covid vaccine rollout has been sluggish, but infection rates are slowly receding. This has meant that health restrictions have been eased as the economy reopens. In April, the Bank of Canada was the first major central bank to announce a tightening in policy. With the US and UK economies heating up, the Fed and BoE may well follow the BoC example and taper their QE programmes. The BoC has signalled that its key interest rate could rise above the current 0.25% in late 2022. If the BoC continues to drum a hawkish message, the Canadian dollar could break below the 1.20 level, which has held since 2015. USD/CAD faces resistance at 1.2137 and 1.2195. The pair continues to test support at 1.2025. Below, there is support at 1.1971.
by OANDA
Banknifty Bullish trend for June 2021 Hi trade mates! Yes, the trend is bullish for the month of June 2021, considering the market analysis, technical support on Nifty, and reduction of corona cases. Wait for 35250 levels, if it breaks then 37000 for sure! Meanwhile don't try to carry forward your trades, it's highly risky in this volatile market, especially for BANK NIFTY. Your premium may erode due to time decay, try to close the positions On or before EOD. SOME Ideas for Stock options are coming up !! Follow and get Notified!
NSE:BANKNIFTY
by Monk_of_dalal_street
CADILA BREAKOUT LEVELSAs erlier we discussed .... that gave good levels and after that we saw profit booking...which means that there was profit booking done buy big players ....and now again its retestes the level and that trend line of 555 and again from here it is going up with good Vol as u can see on Fibc Retresment indicator ... Now fresh entry ONLY ABOVE 571.70 with SL of 554.50 ...this stock can go double from here ....because of its covid injections and tablets.... LONG TERM target 980+++ 5-6 months...
CLong
by Darshaann
NIFTY with a GAP down.HOW TO TRADE IN NIFTY . Nifty is making a bullish candle and global market is bullish but as corona cases are increasing, the market will be bearish. behind the scenes: FII BOUGHT 437CR DII BOUGHT 657CR. EUROPEAN markets are flat. SGX nifty is trading bearish at the time of review Advance to decline ratio is around 1131:762 in Nifty50 US market data is bullish Crude oil is trading at $62.92 bearish Gold is trading at 1778 with bullish view US 10yr bond is flat at 1.566 bearish Dollar index is also flat 91.65 bearish OI For Nifty for the lower side are 14,600/ 14,500/ 14,400/14,000 OI for nifty on the upper side are 14,700/ 14,800/ 15,000/ 15,500 Maximum OI at 15,000 Max pain at 14600 market price 14617 what to expect: Market may show a bull run if crossed 14645 how to trade today: 1. Gap up opening first possible resistance 14682 second 14733 third 14788 2. Gap down first possible resistance 14574 second 14519 third 14471 fourth 14354 expecting a gap down 3.flat opening 14646 is a crucial level to watch This is an educational analysis no call is related to it
NSE:NIFTYShort
by Mantubora