XAU/USD is looking good for downside in 1hrGold is looking good for a downside in 1hr timeframe till daily FVG.You can take entry on 5 min timeframe and manage your trade according to your risk reward. #XAUUSD #Forex #trading
Economic Cycles
India Inc Quarterly Earnings and Nifty Corelation We all know that our beloved NSE:NIFTY has shy of 1500 points in short time, falling from a cliff. Naturally people are eager to guess if the holy grail Bottom is there, or it will test the 4th of June Election Result Day low at least.
Being a price action student, it's always good to look at the history and try to take a leaf out from it. Specifically, when I can recall what happened one year back in October 2023 where there were substantial FII selloffs before Q2 results (of FY 23-24). Of course there is a slight difference in the situation. Last year the moonsoon was not that good, this year above normal.
So I took all the last 4 quarterly result and see what happened around these times in Daily timeframe.
As it's evident:
In 26/10/23 (Q2 results midway) there were a dip to 18850 level when RSI was at oversold region.
Within next two months, the Nifty gave ~15% return.
Again during 24th Jan'24 (Q3 results midway) there is a dip and then Nifty quickly recovered.
Again during 19/04/24 (Q4/annual results midway), there is a dip and then again smart recovery.
The things become even more interesting if we check the RSI beyond this point (last 6 months). Here are the obervations:
19th April'24, 9th May'24, 4th June'24, 5th Aug'24 - the RSI was at 40 level.
Price were more or less around same/similar level. (Except Aug when Nifty was at 24000).
Now the Nifty RSI was at 36. But the price is at 24800.
It's indices Hidden Bullish Divergence
My Expectation:
There can be a little more dip (lets say another 150-250 points, at max 24550).
Then Nifty starts recovering smartly and will try to reclaim the 25500 Resistance level.
We shall see what will happen next.
So essentially end of this week onwards expecting a 800/1000 points recovery, IMO.
Seems too optimistic? May be .. lets see.
Just sharing my personal views. End the day: Market is Supreme and Price Action is the King.
FRESNILLO setting up for its redemption run Fresnillo is an interesting chart. Looks like a major bottom has set in. If by any chance price goes back to 460-455 level, I will not miss the opportunity to buy. If silver moves up towards $60-70 zone. This scrip will hit a home run. Onwards and Upwards.
Stoploss can be placed at 450.
Mukka Proteins looks bullishMukka protein looks bullish, price at strong support. It's a breakout + pullback.
Short term target 74.
.
.
.
.
.
.
.
.
.
.
.
Mukka Proteins looks bullishMukka protein looks bullish, price at strong support. It's a breakout + pullback.
Short term target 74.
.
.
.
.
.
.
.
.
.
.
.
Is that a semi circle?Overall the sector is doing well
Market and traits of chemicals shall decide if the upside is there or no
Tour d'horizon paires Forex: GBPJPY/GBPCAD/EURCAD/USDCAD/USDCHFBonjour à toutes et à tous,
Petit tour d'horizon des paires forex citées dans le titre.
Horizon: swing moyen terme.
Le but de cette vidéo est de partager ma vision sur ces paires forex et d'obtenir vos retours constructifs.
Je ne fais pas la météo de la veille en disant: "il aurait fallu...".
Merci par avance de vos retours constructifs.
Que diriez vous d'échanger en live sur un créneau en fin de journée?
NB: Il ne s'agit en aucun cas de conseils en investissements.
Merci pour vos retours et votre soutien
Laurent
NIFTY Sentiment for AUG 29 2024
Important Levels (Spot) : 24976.27 25066.14 25138.78 25211.41 25314.83
Important Levels (AUG Future): 24983.21 25062.74 25127.02 25191.30 25282.81 25338.38
Vande Bharat may increase sales of Food salesIRCTC looks like after 3-4 years of sideways moves
It can rise above the other not so straight Railway stocks
This is like the software that is needed daily- those are the hardware that come and go
IRCTC model > RVNL, IRCON, IRFC
Karurvstya Bank swing idea Weekly timeframe is bullish
Daily timeframe is bullish
4HR timeframe is bullish
50ema is added confluence
Coforge Swing Idea Weekly timeframe is bullish
Daily timeframe is bullish and price has tapped into daily demand zone and reacted positively
4HR is also bullish
Also, Nifty and CNX IT is also bullish
Company is also 10% away from all time highs because of that the stock can rip high
Note : this is not Financial advise
Tata Motors Swing IdeaStock has reacted to the daily demand zone
It also has confluence on 50 Ema
It is also bullish on 4HR timeframe
Note : this is not Financial advise or be treated or be endorsed as financial advise
Best Buy to double in value?Best buy has pulled back into monthly demand
It has accumulated itself and is ready for a next bullish impluse
Note : not Financial advise. You are liable for the risk you take. Any gains or losses I'm not responsible for it.
Best Buy Swing IdeaPrice has tapped into weekly and daily demand zone
Price is at 50 Ema
There is shift in 4HR structure from bearish to bullish
note: this is not financial advise and not to be treated as financial advise,.solely your decision and responsibility. Just my public journal.
Ashapura logistics Leading asset-based integrated logistics service provider. Downside looks limited, ipo price is @144. Buy at cmp... it looks like upper circuit..but not according to order book... you can still enter
Bottom-out counter, #GRMOVERLooking cool according to technical and price pattern basis, it could be a bottom out candidate based on Weekly and Monthly time frame.
Fundamental-
*Track the Quarterly basis performance*
Axis bankPrice at strong support, day rsi @30 (support), 200d wma is at 1146, all indicating buyyyy...
USL_ATHCurrently USL trading @20 EMA Support.
Pros:- ATH closing.
* Bullish 📌 Bar at 20 EMA in uptrend.
* Defensive stocks giving Bullish momentum in post Budget.
Happy Trading!! only for educational Purpose.
HDFC bank breaking a major resistance Bank Nifty has underperformed this year compared to benchmark nifty largely due to NIM. Also it is expected that the RBI may cut rate before their US counterpart . In such a scenario HDFC is a good value bet plus it is about to test a major trendline giving an opportunity to make an ideal entry. However it may take a month or so to see some major moves. Upcoming gov. policy may also trigger big moves.
Paras defence bullishPersonally i think this gap won't fill, but if you trade gaps you can wait for it.
Target of 1752, 40% upmove possible.
Epack durables BullishBreakout and Retest completed.... ready to flyyy?
Buy at cmp or 224, target 344 based on FibLevels
BLS classical retracement in a bull run.The stock has had many bull rallies in the past and has been a multibagger. Despite the significant price movement, the stock is not considered inflated, as the fundamentals have kept pace with the increasing price demand. Historically, the stock moves in cycles of rallies and consolidations, and it is currently transitioning from a consolidation phase to a rally phase.
