GBPNZD SHORTAs we can see price has been in a very good and strong Downtrend for a while and then it started retracing, my bias and Technical Analysis says that the retracement is complete or it is about to be completed. but If retracement is completed then this time is good oppertunity to sell.
TRADE WITH PROPER STOP LOSS BASED ON THE MARKET STRUCTURE!!
GOOD LUCK!!
TRADE SAFE
Correction
GO-LONG~EMA~KAMA~SUPPORTI have used EMA and KAMA lines here.
By using EMA line, I can get the better idea about price movement rather than using SMA && by using KAMA line I can avoid noise.
here in this chart time frame is of 60 min, EMA(20) & KAMA(14,5,30).
You can see here, whenever the EMA line crosses the KAMA line the trend changes.
My recommendations here is to go long in SUN PHARMA.
1. it has already corrected about 120 rs.(from 680 to 560).
2. in daily time frame there is a strong support level around 560.
3. the EMA line just crossed the KAMA line.
Have a long position and enjoy the profit.
thank You!
GBP/USD - the pair has overcame the resistance levelThe price is fixed above the psychological level of 1.4 at the moment. So we expect further growth of our pair.
It has overcame the resistance level and had been over the upper boundary of the triangle. Therefore, we will expect further price advance up to approximately the level of 1.42 from which a price correction is possible.
Forecasting correction based on previous MA crossJust for study purpose!
Measuring the ratio of MA difference and the length of correction and trying to predict what will be the price before bull starts again?
May be 9288-9300
Based on previous MA cross and length of correction
gap between 20 week and 200 week MA / length of correction = ratio
2305 / 1768 = 1.3
1199 / 676 = 1.77
average = 1.535
1859 / x = 1.535
x = 1211 (length of correction since MA cross)
On way to test resistance USDINR should test Rs 64.50 and 65 levels in coming few days which will act as major resistance zones.
Once cleared , a fresh view can be taken !
RAJIVKHATLAWALA
Nifty 50 - Short term correctionNifty 50 is in a upward trend. To sustain it a correction is necessary. Between feb and march Nifty 50 might retrace to 0.618 fib levels. That would be around 10500. RSI shows a down trend and MACD is also moving towards a cross over.
However we need to keep a close look as budget on Feb 1 might influence the direction of Nifty 50.
Do your own research before getting into any trade!
Century Textile - Correction BeginsIt has been observed that the price action rallied a long wave up. It made a new high but could not sustain and now indicating further correction from here on. MACD indicating a negative crossover too.
T1: 1350
SL: 1450
SRF EW analysis - sub wave C of wave (2) is going on here.In monthly, ew count shows that sub wave C of wave (2) is going on here.
Here are the fractals of wave (2) in daily,
fibo extension of sub wave C. . 1(1251), 1.272(1085) quite possible here.
fibo retracement levels for wave (2). .382(1235), .5(1000) quite possible here.
Nifty Forecasting - Potential Down MoveAfter a Sharp Weekly drop last week nifty might consolidate with 50% upmove and if the upmove is a corrective wave pattern then a potential down move would take Nifty to test the previous breakout levels around 9100 levels in the coming weeks. The current down move can also turn out to be a side ways movement for several weeks which would mean new highs would come again.
Happy Trading!