Both the indices are at resistance. Red, yellow and green are M, W & daily supply/demand zones....A MAjor move is due in USA markets. Simple Support and Resistance levels are the way I trade the price action...No indicators.
Chart is shared only for the educational purpose.
SUPPORT ZONE MARKED , STOCK WITH DECENT VALUATIONS STRONG FUNDAMENTALS .
A BUY SETUP FOUND ON BALKRISHNA BALKRISHNA , A FUNDAMENTALLY SOUND STOCK FOR MEDIUM AND SHORT TERM RETURNS WEEKLY RESISTANCE BREAK OUT DONE AND RETESTED IN DAILY CHART FRAME . A BUY FROM HERE FOR PHENOMINAL RETURN CAN BE EXPECTED . TAKE CALL ON YOUR OWN RISK
CHECK THE ANALYSES SHARED ON TRADING VIEW AND SEE HOW THE ANALYSES WERE DONE WHICH GAVE HANDSOME RETURN CLICK THE LINK TO SEE THE IDEA I DISCUSSED FEW DAYS BACK ON TRADING VIEW . IEX GAVE RETURN AS DISSCUSED BACK AND IT CAN ALSO BE HELD FOR MEDIUM TO LONG TERM 1. STRONG STOCK 2.STRONG FUNDA
STRATEGY DEPLOYED 1. 15 AND 4 MINS CANDLE 2. FIBO AND HARMONIC PATTERN 3. PIVOT POINTS
HAVE A LOOK HOW I TRADED AND GIVEN FREE CALL TO EVERYONE 1. FIBO STRATEGY 2. 5 MINS AND 15 MINS CANDLE STRATEGY 3. PIVOT POINTS
The daily is turning up against the March lows at 18178. The 4 hour right side is up against the 6/15/2020 lows at 24430. The 1 hour is turning up against 26394. While it shows it will remain above there the index can extend higher toward 30500 in the cycle up from the March lows. Sell @27680-760 TP: 26200 SL: 27880 Good luck !
Dow may have completed its correction from the Mar lows in a W_X_Y pattern. Bearish below the trendline
Note: This is for educational purpose only. There is a W pattern formation in DJI. RSI however is in neutral zone so need to be cautions. Price movement above the 28200 will see next major upmove.
BUY Dow Jones YM1! @ 27761 STOP LOSS @27671 TARGET @27871
USDINR has been consolidating since one week and tried to form a base (at the demand zone). In Previous day session it broke its resistance (73.65), and sustained above it. At current level it is looking good for long with good R:R, Minor hurdle at 73.9.
Dow can retest 28600 with a stop below 20860. The base line of ichimoku will be flat for another 11 hours unless Dow makes a new low. watch out for the breakout from the triangle pattern
S&P 500 broke its all time high in previous session will gap up but looking at the structure I think its exhaustion gap. Also, look at DJI, it gave flag pattern breakout on 21 Aug. Interestingly there's a gap border resistance present in DJI at 28400.