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Sterlite Tech- Is it Going for Another Top..In technical analysis, we examine historical data of an instrument to anticipate its future course of action. We all would agree that Price and volume are the primary and perhaps the purest form of data in technical analysis and that’s why some traders, including me, are always more inclined towards them. In this idea, I would like to share some of my observations on Sterlite Tech. which just caught my attention due to the following reasons. 2018 TOP On the left side of the chart, we had a strong uptrend followed by a top formation. Calling it a double top won’t be a misnomer. Almost a yearlong formation and then a sharp breakdown. 2021 TOP The stock bottoms out in 2020 with an Inverted Head and Shoulders pattern and reverses up back into 2018 top. The stock spends almost 6months in this zone (300) and forms another top here in 2021. BREAKDOWN FAILURE On the right-hand side, we can see a huge consolidation (into the inverted H&S of 2020) from July2022 to Feb2024 and then a breakdown of support (128). But this breakdown could not hold, and the stock is now back above 128, indicating a breakdown failure. ANOTHER TOP Generally, we see a sharp rally after a breakdown failure. If that happens, the stock may rally for 2021 top (260 or so). As per timeline, the previous tops were formed in 2018 and 2021. We may expect another one with a 3years gap, that is by the end of 2024. However, we should never lower our guard and approach cautiously if the stock fails to sustain above 125 again. That would require another take on the stock. I hope you found this analysis useful. Do press 🚀 and comment for more such analysis in future.
NSE:STLTECHLong
by Bravetotrade
2
BANKNIFTY - GOOD TIME TO CREATE LONGS ?Symbol - BANKNIFTY BANKNIFTY gave a breakout of ATH & touched 49000 level & then exhibited some profit booking due to global news flow. It is currently trading at 47335 which is a good support area. I think BN will take support at these levels & will show a reversal from here. Hence I am creating long positions in BN futures at CMP 47335. I will add more position between 47080 - 47200, if comes. My SL would be below 47000 & Targets I'm looking for are 47900 - 48470 - ATH.
NSE:BANKNIFTYLong
by akshit_official
11
Banknifty - Intraday levels & Prediction for - 16 Apr 2024Banknifty Prediction for Tomorrow : Trend : BULLISH Sentiment : Positive Expectation : Strong BEARISH Nifty and Banknifty both at strong Support level for BULLISH rally for new High in the upcoming days.. Sharp selling today is a correction, Expecting uptrend from tomorrow. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:BANKNIFTYLong
by ViVenTraders
2
GBPUSD: Uptrend continues to be threatenedHello everyone! This week, GBP/USD has witnessed a slight recovery, climbing above the 1.2450 level after dropping to its lowest point in November at 1.2426 last week. The technical outlook still signals a downward trend, but easing geopolitical tensions may prolong the currency pair's recovery time. Investors sought safe haven assets last week following reports that Iran may retaliate for what is believed to be an Israeli attack on their consulate in Damascus on April 1st. This has boosted the US dollar as a preferred safe asset, thereby putting pressure on GBP/USD at the end of the US trading session. US stock index futures were last seen rising between 0.4% and 0.6% for the day. If Wall Street's key indices open positively and continue to rise, the US dollar may struggle to maintain its strength, potentially allowing GBP/USD to climb higher.
Short
by RKarina
2
Auropharma Trap - Catching The E-wave 1135 to 1105 🎯 🎯🎯Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? 🏆🏆🏆 Applying Wave Analysis in Real Time & Making the Patterns Fit can lead to amazing trades, and we're here to celebrate as we've successfully reeled in the E-wave fish into our nets. Hope you enjoyed the fall from 1135 to 1105 on April 10, 2024. What's next? If the stock holds above 1095, then it can surge upwards in Friday's session and reach the upside targets of 1135 / 1150-1160 zone, as updated via the 6:44 am comment on the last Auropharma idea. Last Idea Published From WaveTalks Abhishek
NSE:AUROPHARMALong
by WaveTalks
2
💎 Keep a close eye on HOTUSDT💎 Paradisers, #HOTUSDT has broken out of resistance, which may now act as support. 💎If #HOTUSDT demonstrates CHoCH after taking support from this level, it could signal a bullish move, possibly indicating an attempt to attract external liquidity. 💎In the event of a breakdown below this support, we may anticipate a bounce from the bullish Order Block (OB). However, confirmation with CHoCH at this level is essential. 💎Nevertheless, if the price breaks down below the bullish OB without any confirmation, it might be prudent to refrain from trading until clearer price action emerges. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise_Nathan
2
Small Rectangle pattern Breakout || Positional Trade in IPCA LABHello Guy's i have brought an idea which can be best positional trade as this stock has given breakout, i have done my analysis on daily time frame, Breakout is sustaining above the previous highs, Stock has made fresh all time high in today's session. Stock is good with good liquidity.. MACD also has given bullish crossover Price and action suggesting a move at least for 8-10% in short term. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:IPCALABLong
by TraderRahulPal
9
IPO BASE BREAKOUT IN CHAVDAHello Traders⚡ I am a Swing Trader by Passion i only trade on Momentum Stock's. 📌I Post Daily SWING CHARTS Analysis on My Trading view profile.. So let's Star 📌SWING TRADE FOR NEXT WEEK🚀 t 📌TRADE ANALYSIS OF CHAVDA • Potential Breakout Chart • IPO BASE TRADE • Short Range Consolidation • Price Can Take Retest from support Line • Overall The Price Is Moving In HH-HL Formation • Volume Buildup Near BO Zone • Looks Good For 10-20% Upside Levels After The Breakout 📌 If you have any questions about any stock you can comment on post 📱 📌Disclaimer:- This all chatrs analysis are only for educational purposes only I do not provide any CALL or Tips
NSE:CHAVDALong
by Trading_Old_School
3
WIF/USDT Ready for Big Pump or Big Dump ?Trading CRYPTOCAP:WIF ? Here’s How to Win Big or Stay Safe ➡️ Easy Trading Tip: #WIF chart is clearly going up, making it a good choice for easy trades. ➡️ Strong Support: Rebounded from $3.20, showing strong support. ➡️ Next Goal: Staying in the channel could push us to $7 target. ➡️ Watch Out: If it drops below $3, consider exiting long positions. ➡️ Skyrocketed: From $0.17 in Feb to an ATH of $4.91 in March ( 28x in 2 months ) ➡️ Risk vs Reward: High risk, but a tight stop loss could mean smart gains. #Altcoins #Dogwifhat
Long
by CryptoPatel
2
#Banknifty directions and levels for April 8th.Banknifty has a solid bullish structure, so if the gap-up sustains, we can expect a minimum of 48796. It's a major resistance, so if the market reaches this level solidly, then the market may break this level with minor rejection. On the other hand, if it reaches this level with a minor pullback, then the market may retrace a minimum of 23 to 38%. Alternatively, if the gap-up doesn't sustain initially, we can expect minor consolidation. After that, if it breaks the previous high, then we can expect rally continuation. On the other hand, if it breaks the downside blue box, it may turn into correction.
NSE:BANKNIFTY
by Manickamtraders
2
Mighty Nifty - April 8Price was consolidating the whole day and formed a symmetrical triangle. Break out can be in any direction. Pattern : Support/Resistance. Range : Medium. Trend strength : Normal. Buy Above : 22540. Stop Loss : 22500. Targets : 22580, 22620 and 22660. Sell below : 22440. Stop Loss : 22480. Targets : 22400, 22360 and 22300. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:NIFTY
by vanathi
4
You can take a long trade in HDFC BankCompany:- HDFC Bank Ltd. Sector:- Banking M Cap:- 10.99T Technical:- On the hourly and daily chart smart money formed semetric triangle chart pattern and breakout it with heavy volume, I thik this stock is bottoming out and ready for the next leg rally. One more thing Nifty private banking and nifty bank index is also bottomed out. So if Banknifty and Nifty private banking indices have to go up, HDFC Bank will have to outperform. If you want's to doing this type of technical analysis you can follow me and visit my website "protraderclub.in" and contact me. Disclamer:- Dear followers, before taking any trade do your own analysis and consult your financial advisor.
NSE:HDFCBANKLong
0
by Pro_Trader_Club
15
India's 4th largest pharma company has given breakout..Hello Guy's i hope you all will be doing good in your life and your trading as well. I have brought another stock which has given breakout of small rectangle pattern on daily timeframe. Company has good management with proven profits making record, it is 4th Consumer Healthcare brands Market ranked #1 in their categories. Mankind is present in several acute and chronic therapeutic areas in India, including anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/CNS, vitamins/minerals/nutrients, and respiratory. If i talk about technicals, stock has given small Rectangle pattern breakout and stock has came down to retest the levels. Indicators like MACD and RSI start giving bullish crossover, Price is above 200-DEMA. All is indicating bullish reversal in stock. There is higher chances we can see good bullish momentum in near term. Stock is good for investment like short term to medium term. And one more thing, if anybody wants to consider this stock as long term, then it is absolutely good for that, even i will suggest to do SIP in this. Market Cap ₹ 92,165 Cr. Current Price ₹ 2,301 High / Low ₹ 2,375 / 1,241 Stock P/E 55.8 Book Value ₹ 216 Dividend Yield 0.00 % ROCE 20.7 % ROE 17.0 % Face Value ₹ 1.00 Industry PE 32.8 Debt ₹ 9.74 Cr. EPS ₹ 41.2 Promoter holding 76.5 % Intrinsic Value ₹ 851 Pledged percentage 0.00 % EVEBITDA 38.6 Change in Prom Hold 0.00 % Profit Var 5Yrs 11.9 % Sales growth 5Years 15.7 % Return over 5years % Debt to equity 0.00 Net profit ₹ 1,650 Cr. ROE 5Yr 21.6 % Profit growth 39.3 % Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:MANKINDLong
by TraderRahulPal
2
Expensive Mistakes in Trading and how to Clear Them !Hello Trading community, Today i brought an educational publication for sharing with all of you mates in which most of the experiences are mine too that what are the expensive mistakes we are doing and how can we improve that mistakes i am trying to share below mates. But before i start i want to say a big Thanks to Trading view and entire team for adding index and stock Options chart in the system and with this integration we no longer need to go any other platform to view those charts. Trading in financial markets comes with risks, and mistakes can be costly. Some of the most expensive mistakes in trading include: ⚡Lack of Risk Management: Failure to set stop-loss orders or not adhering to risk management principles can lead to significant losses. Traders who expose themselves to excessive risk without a safety net often suffer severe financial consequences. ⚡Overleveraging: Using excessive leverage amplifies both gains and losses. While it can increase potential profits, it also magnifies the impact of market fluctuations. Traders who overleverage their positions may find themselves facing margin calls and significant losses. ⚡Ignoring Fundamental Analysis: Neglecting to conduct thorough fundamental analysis and relying solely on technical analysis or market trends can lead to poor investment decisions. Changes in economic indicators, company financials, or geopolitical events can have a profound impact on asset prices. ⚡Chasing Losses: Trying to recover losses quickly by making impulsive and high-risk trades can exacerbate the problem. Emotional decision-making driven by a desire to recoup losses often results in further financial setbacks. ⚡Lack of Discipline: Traders who deviate from their established trading plans or strategies due to emotions, fear, or greed may make poor decisions. Maintaining discipline is crucial to successful trading. ⚡Insufficient Research: Inadequate research before entering a trade can lead to unexpected surprises. Traders should thoroughly understand the assets they are trading, market conditions, and relevant news that might impact their positions. ⚡Falling for Hype and Speculation: Investing based on market hype or speculative trends without proper due diligence can result in losses. Relying solely on the opinions of others or following the crowd can be detrimental to a trader's financial health. ⚡Market Timing Errors: Attempting to time the market perfectly is challenging and often leads to losses. Traders who consistently mistime market entries and exits may miss out on profitable opportunities or incur substantial losses. ⚡Not Diversifying: Putting all funds into a single asset class or market increases vulnerability to downturns. Lack of diversification can expose traders to significant losses if a particular sector or asset class underperforms. ⚡Ignoring Transaction Costs: Neglecting to consider transaction costs, such as commissions and fees, can erode profits. Frequent trading without accounting for these costs can significantly impact overall returns. Successful traders often learn from their mistakes, adapt their strategies, and prioritize risk management to minimize the impact of errors in the future. It's essential for traders to continually educate themselves, stay informed about market conditions, and remain disciplined in their approach. Now we will talk that how we can take control on these above mentioned mistakes-: Avoiding costly mistakes in trading requires a combination of education, discipline, and a well-thought-out trading plan. Here are some of the most expensive mistakes in trading and tips on how to avoid them, Understand the financial markets, trading instruments, and the factors that influence prices. Stay informed about economic indicators, market trends, and news that may impact your trades. 🚀Have a Trading Plan: Develop a clear and well-defined trading plan that includes your goals, risk tolerance, and strategies. Outline entry and exit points, risk management rules, and position sizing guidelines. 🚀Risk Management: Never risk more than you can afford to lose on a single trade. Use stop-loss orders to limit potential losses and protect your capital. Diversify your investments to spread risk across different assets. 🚀Control Emotions: Emotional decisions often lead to trading mistakes. Stay disciplined and stick to your trading plan. Avoid making impulsive decisions based on fear, greed, or overconfidence. 🚀Start with a Demo Account: Practice your trading strategies with a demo account before using real money. This allows you to refine your approach and gain experience without risking your capital. 🚀Continuous Learning: Stay updated on market trends, new trading strategies, and evolving market conditions. Learn from both successful and unsuccessful trades, and use that knowledge to refine your approach. 🚀Monitor Positions: Regularly review your open positions and adapt your strategy as market conditions change. Set realistic profit targets and be willing to take profits when your goals are met. 🚀Stay Informed: Keep abreast of global economic and political events that may impact the markets. Be aware of scheduled economic reports, earnings announcements, and other events that can cause volatility. 🚀Avoid Overtrading: Resist the urge to trade excessively. Quality over quantity is key. Focus on high-probability setups and wait for the right opportunities. 🚀Stay Flexible: Markets can be unpredictable. Be willing to adjust your strategy if conditions change. Avoid being overly attached to a specific trade or outcome. 🚀Review and Analyze: Regularly review your trades, both successful and unsuccessful. Identify patterns in your decision-making process and learn from past mistakes. 🚀Seek Professional Advice: Consider consulting with financial advisors or experienced traders for insights and guidance. Joining trading communities or forums can also provide valuable perspectives. Remember, trading involves risk, and there are no guarantees of profit. By following these guidelines and maintaining a disciplined approach, you can increase your chances of making informed decisions and avoiding common trading mistakes. Regards-: Amit Happy Trading mates, Thanks for reading hope you like this publication friends. “If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” - Bill Lipschutz
NSE:NIFTYEducation
by AMIT-RAJAN
23
Keep an Eye on SILLY! 🚀 Potential Bullish Reversal in the Work💎 Paradisers, #SILLY has broken out of a trendline and formed an inverse head and shoulders pattern, which increases the likelihood of a bullish move. 💎If #SILLYUSDT breaks above the resistance zone or neckline area, it will confirm the inverse head and shoulders pattern, potentially signaling a bullish reversal. 💎However, in the event of a breakdown below the demand level, it may be considered a bearish scenario. Nonetheless, it might be wise to wait for better price action to develop before making any decisions. 💎If you're new to technical analysis and feeling confused, don't hesitate to DM or comment below. I'm here to help you navigate through it.
by MyCryptoParadise_Nathan
2
XAUUSD on rise to 2250 Gold prices rose by 0.38% yesterday, settling at 66367, as investors eagerly awaited U.S. inflation data to gauge the Federal Reserve's stance on monetary policy. Despite recent high inflation readings, Fed policymakers remain committed to reducing interest rates by three-quarters of a percentage point by the end of 2024. Central banks' continued gold purchases for diversifying currency reserves bolstered market sentiment. Investor attention now turns to the U.S. core personal consumption expenditure (PCE) price index data for February, scheduled for release on Friday, as it could provide crucial insights into inflation trends. Meanwhile, India's gold imports are anticipated to plummet by over 90% in March compared to the previous month, marking the lowest levels since the COVID-19 pandemic. Banks reduced imports due to record-high prices denting demand, potentially curbing a rally in global gold prices. March 2024 gold imports are forecasted to hit their lowest point since the pandemic, attributed to air traffic restrictions limiting imports and lockdowns shuttering jewellery shops. From a technical perspective, the market saw short covering, with a significant drop in open interest by -37.04% to settle at 3812. Prices surged by 253 rupees. Currently, gold finds support at 66090, with a potential further support level at 65815. Resistance is anticipated at 66570, with a potential upward movement towards 66775 upon surpassing resistance levels. This technical overview suggests a cautious stance amid fluctuating market dynamics and awaits further data releases for clearer directional cues.
OANDA:XAUUSDLong
by FXBANkthe8055
5
Price-Time Correlation: Through WavesPrice reflection through Waves We all know that price does not moves in a straight line, it moves in waves. A graphical representation of price with respect to time always gives us a wavy structure. If you notice carefully, on any chart, these waves reflect different characteristics. Some will be longer and quicker than the others while some will be smaller and slow. The behavior of these waves could help us in identifying strength and weakness in price and hence rational decision making. Waves Reflect Momentum The quick or slow action of a wave with respect to time indicates its momentum. A longer wave in a small duration of time is said to have more momentum than a wave of same length in a larger time duration. It should be noted that in trading, momentum of a wave is a relative term. It means that momentum of one wave doesn't make much sense unless it is compared with the momentum of another wave(s). It is through this comparison that we can discover strength and weakness in price action. Momentum or Human Behavior? Please do remember that when I say strength and weakness, that means the strength and weakness of market participants. Ultimately it is the human action and psychology that is playing in the background. In the foreground what we see are the waves on Price and Time axis. So, a weaker up wave would mean that buyers were not very strong in that up move. Or a stronger down wave would mean that sellers were stronger in that wave and so on. This contrasting behavior may help us in understanding the market behavior more accurately and taking prudent trading decisions. Also remember that Price-Time correlation does not focus on bottom picking but it provides additional confirmation that the correction/consolidation has been terminated and the larger trend has resumed. Secondly, while the market may behave differently in different geo-political environments, one should not expect identical outcomes all the time. Let's go through the Example in Chart Normally after a strong trend we see a correction/consolidation. A correction can be of any type but for the sake of simplicity I have taken the more popular 'abc' type structure. Wave A Very strong momentum up wave. Generally, very strong moves lead to consolidations. Wave B Strong momentum corrective wave Wave C 🚀Momentum is weaker than both waves A and B. 🚀From A to B, the price corrected in one go whereas C is a 3-wave sub structure in itself. 🚀Also, C took more time compared to B but could not reach the high of A. Inference- Buyers are not very strong at this stage so not a very good place for fresh buyers. Wave D 🚀Momentum is even weaker than C. 🚀5-wave sub structure and huge time taken by the wave to reach the low of B reflects that sellers were not strong enough to push the market down. Inference- Buyers could try for a low-risk trade. Wave E 🚀Price breached the high of C and A in a smaller duration of time. So huge momentum. Inference- Good to keep holding long positions and for fresh entry into small pullbacks. For measuring time one can count the number of candles in a wave with the help of DateRange tool provided in ForecastingandMeasurementTools Tab on the left pane of Tradingview chart page OR sometimes simply eyeballing a chart would serve the purpose. Disclaimer: This is a very simple but strong concept, and I am not the sole follower or proponent of it. Hope it added to your knowledge. Do hit the 🚀 button and share your experiences regarding momentum trading in the comment 💬 section below. Thanks.
OANDA:XAUUSDEducation
by Bravetotrade
16