Community ideas
$BTC Power of 2 in action!CRYPTOCAP:BTC Power of 2 in action
Bullish Rectangle + Continuation
Bullish Rectangle spotted during this strong uptrend, signaling a potential continuation!
What to watch for:
✅ Bullish Rectangle Formation
✅ Breakout to the Upside
🔃 Continuation to FWB:52K
Let's follow the Power! #Bitcoin
#nifty directions and levels for DEC 20th"Good morning, friends. Directions for December 20th: The global market sentiment is bullish, supported by the Dow Jones. and our local market sentiment shows a bullish trend. It might open with a gap-up start based on Giftnifty, which shows +80.
Nifty has a strong bullish structure, and Banknifty has a range market structure; both indicate different conditions. Therefore, we don't know exactly which one is going to dominate. However, we can follow one thing: if the market has a solid candle structure or consolidation followed by a gap-up, then we can expect the rally to continue. On the other hand, if the pullback reaches the immediate resistance with minor consolidation (without strength), then the range will likely continue."
BTCUSD Analysis- Shakeout or Pullback🤷♂️In the monthly chart, on the left-hand side, it can be observed that 2017 highs acted as a strong resistance. But once this level was taken out, it started acting as a support in 2022. Holding the very basic idea that a resistance once taken out, start acting as a support. You would observe this concept several times on this chart.
On the right-hand side, we can see a shift in structure from LL-LH to HL-HH formation near the above-mentioned levels (2017 highs). It was analyzed and explained in the following idea-
The resistance area of 25200 was broken out in March2023 and later tested twice in June and September2023. We can see a range creation between 31200 and 25200. The 25200 resistance now acted as a support and the range broke out in October2023.
It continued higher with a small area of consolidation in-between November, which finally broke out this month (December).
Currently we are facing a pullback from near 44700 to 40132 on this chart. The volume was high during this pullback but there is no follow through. This is indicating that this pullback could be just a shakeout.
⚡I would discuss three scenarios here for different type of traders:
-Overtly Bullish
-Moderately bullish
-Cautiously bullish
🚀Overtly Bullish- This is the most probable scenario at this point and is suitable for short term traders. Market will resume higher after the shakeout. There is a wholesale entry near 40000-40100 zone with stop below this zone. Targets could be 44500/48200 for short term.
🚀Moderately bullish- As per this scenario, we have stretched too far and expecting further pullback. This scenario is suitable for those who have intermediate term perspective. In this case 38000 (previous resistance) may act as support, so a bounce play could be an option from there. The stop would be below 38000 and target 44500 or higher.
🚀Cautiously bullish- This scenario is for those who are looking for longer term opportunities in the market. They would ignore entries near the higher prices and wait for deeper corrections. For them expect a break till 35000/33400 could be best where more buyers would show up in the October2023 breakout zone.
Which category do you belong to?
Write in the 💬section below.
Do boost🚀the idea if you think it was informative.
Regards.
Disclaimer: The levels discussed are for educational purpose only and not a trading or investment advice.
HDFC LIFE : Multibagger Investing Idea Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Broadening Pattern
📌 Symbol/Asset: HDFCLIFE
🔍 Description: Stock is making broadening pattern. We can see huge upisde in the stock.
Its a Buy on dip stock.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
ADORWELDVolatility Contraction Pattern is popularized by Mark Minervini, who is a two times US Investing Champion. Last year he won the championship with a record-beating 300+% in the year. He primarily uses VCP for his trading setups. It is a twist on the ascending triangle pattern with some variation.
It has the following characteristics:
The Stock must be in stage 2 uptrend.
A period of price consolidation must take place in thebase.
Price consolidation occurs after a stock has moved up in the price, the consolidation (or correction) is a constructive chart pattern that allows the stock to digest the bullish price movement.
Price volatility must contract through the base (from left to right).
During this period of price consolidation the stock price will correct.
Price must correct through a series of smaller contractions.
Each contraction should be tighter than the last, representing the absorption of more weak holders. Ideally this pattern has between2-4 contractions.
NIFTY SMALL CAP 100 Hello & welcome to this analysis on the index
The index has had a dream run since April of this year.
What lies ahead? Does it continue its outperformance or does it lose its shine and starts seeing profit booking?
Currently at a resistance in higher time frame with support quite far. The Dec quarterly candle and the Jan monthly candle will give clarity for what is to come.
One should avoid fresh aggression at current levels in it and set trail stop loss triggers based on risk appetite at this juncture.
Happy Investing
IDFC LTD: DIWALI PICK 2023 Stock is forming higher highs and higher lows which is he basic definition of an uptrend and has given a breakout of 15 years of range in an impulsive manner. The impulse unfolding will have a five structure of which 'Third-wave' is still unfolding. As we already know that Third waves are the wonder to behold, the Stock has a potential to reach 220-240 in the coming 1-2 years. On the downside major support is at 75. Only a sustained closing below 75 will force us for the re-assessment the idea. Until then we are aggressively bullish on the stock for 220-240 zone and beyond that in the coming years.
Happy Diwali
#Diwali2023
Technical Analysis with Elliott Wave InsightToday, we're exploring Ward Wizard Innovations & Mobility Ltd., an Indian electric vehicle manufacturer, with an intriguing twist of Elliott Wave theory for market insights.
Before we dive into the waves, here's some background:
Ward Wizard Innovations & Mobility Limited is a publicly-held electric vehicle manufacturing company based in India. It's dedicated to producing eco-friendly electric scooters and vehicles. Not just in India, but its impact extends to countries like Uganda and Nepal.
Now, back to the chart and Elliott waves:
Recently, the stock witnessed a substantial decline from January 2022 to July 2023, followed by a period of consolidation.
Going back to its origins in May 2015 up to July 2021, we identify a significant wave ((1)), marking a robust upward trend.
This was followed by wave ((2)), an Expanded Flat correction (A)-(B)-(C) in blue. Wave ((2)) concluded near 161.8% of wave (A) as wave (C) of ((2)).
Now, the exciting part:
The best possibility is that we're currently experiencing a significant wave ((3)), known for bringing about robust upward momentum. This wave holds the potential to surpass previous all-time highs.
Elliott Wave theory is a captivating tool, helping us understand market psychology and forecast future price movements based on wave patterns.
Remember, there's a crucial detail:
We've set an invalidation level at 33.20, representing the low of July 2023. If prices drop below this level, it might indicate a different wave scenario.
Conclusion:
Our analysis hints at the potential for a strong bullish wave ((3)).
Markets are full of surprises, and risk management is your best companion on this journey.
I am not Sebi registered analyst. My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
#banknifty positional view:-The movement from 38,163 to 46,369 is 7,756 point upmove, followed by a flat correction (zig zag, the reason the wave b pullback was 97.86% of the wave a). If we look at the rules of the flat the wave c must end near 123.6% i.e. 42,887 but we took a buffer of 161.8% to figure out a reversal zone.
Reversal Zone:- 41,829 - 42,887, safe traders can go long once the trend line breakout happens, the market in the analysis.
Use this dip for fresh buying opportunities.
All is well with the market, nothing to fear.
Rules of Regular Flats:-
Guidelines
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave C generally terminates slightly beyond the end of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
Regards,
SG
ICOMDEX & MCX CRUDEOIL – Bigger Picture AnalysisICOMDEX CRUDE OIL
Timeframe: Monthly
It is the ICOMDEX monthly timeframe chart where the price has started a new impulsive cycle from the low of 1270. The price has broken out 20 & 50 Exponential moving averages. RSI is snowing bullish momentum with a 56.97 level.
Wave formation and Fibonacci relationships:
Wave (2) retraced 38.2% of wave (1).
Wave (3) is a power-extended wave with 3.618% Fibonacci extension.
Wave (2) is trading above the starting point of wave (1)
Wave (4) retraced 61.8% of wave (3).
Wave (4) hasn’t entered the price territory of wave (1) and has formed a complex correction of W-X-Y.
Crude oil has accomplished the complex correction and marked evidence by breaking the descending channel of the corrective structure. According to the Elliott wave principle, an impulsive cycle can only be confirmed by breaking out the sub-wave X of the previous correction. If the price breaks out wave X, traders can see the following levels: 10550 – 11500 – 12744+ . Not having confirmation will be the confirmation of the continuation of the corrective phase.
MCX CRUDE OIL
Timeframe: Weekly
As we can see on the above chart, we are getting a similar structure, and mainly the confirmation. ICOMDEX & MCX CRUDE OIL can be a comrade to confirm each other, just like we used to compare Dow Jones with other indices.
If the price breaks out 7657 , traders can trade crude oil for the following targets: 8200 – 8950 – 9950+ . We still need to look at the lower timeframe to connect the worm’s-eye view(Micro picture) with the given eagle view.
Confidence Petroleum India Ltd : Stock Analysis💡 Company Overview:
Confidence Petroleum India Ltd is a leading manufacturer of LPG cylinders and a prominent supplier of auto LPG in India. With an extensive network of bottling plants and Auto LPG dispensing stations across the country, the company also serves industrial and commercial clients through packed LPG cylinders.
💡 Financial Performance (2017-2023):
Over the years, the company's net profit has demonstrated a steady growth trajectory. This consistent increase is attributed to rising sales, indicative of a healthy operation. A gradual profit rise, rather than sudden spikes, signifies the company's stability and sustained market presence.
💡 Institutional Interest:
Recent stake additions by Domestic Institutional Investors (DIIs) highlight growing market confidence in the company. Institutional investments often indicate a positive outlook and can influence market sentiment positively.
💡 Technical Analysis:
✔️ Double Bottom Pattern:
The stock displayed a double bottom pattern, indicating a potential trend reversal. The first bottom at 45-48 initiated buying interest. The second bottom at 56-59, coupled with increased buying activity, partially confirmed the pattern.
1st Bottom (45-48):
The first bottom at 45-48 initiated buying interest, marking the start of a potential uptrend.
2nd Bottom:
Efforts to break out at 81-83 faced strong supply, causing price falls.Then the Buyers from the first bottom re-entered the market, driving the price up.
Strong Upward Movement - Double Bottom Confirmation:
A strong upward movement confirmed the double bottom pattern. The breakout above the neckline indicated a potential sustained uptrend.
✔️ Volume Analysis:
🔹Volume A: Increased volume during upward movements highlighted heightened participant interest.
🔹 Volume B: Lack of significant volume indicated market indecision or limited trading interest.
🔹 Volume C: Comparing volume with corresponding price range provided insights into market activity.
🔹 Volume D: Volume decreased during the fall from 96, indicating reduced selling pressure.
💡 Assumptions and Market Outlook:
Considering the stable financial growth, institutional interest, and technical patterns, the stock appears poised for an upward move. The formation of a doji candle in the weekly timeframe, coupled with decreasing volume alongside price, supports the assumption of weakening selling pressure and potential for an upward trend.
🔹 Day frame
The stock retested the breakout area (81-84) with low volume, suggesting potential stability at higher levels.
If you are looking for an entry try at current level cmp 84
targt 90-100-130+
Study before making an investment decision.
Thank you
Ankith Shaju
Mighty Nifty - Oct 5Price is moving in the range 19300 to 19500.
Pattern : Supply/demand.
Range : Medium
Trend strength : Normal
A different perspective.
Buy Above : 19460.
Stop Loss : 19420.
Targets : 19500, 19530 and 19580.
Sell below : 19380.
Stop Loss : 19420.
Targets : 19350, 19320 and 19280.
Check the live market updates. Expected expiry day range is 19600 to 19250.
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.
WSTCSTPAPR - West Coast Paper MillsWest Coast Paper Mills Ltd is one of the oldest and the largest producers of paper for printing, writing, and packaging in India.
The company has established itself as a leading manufacturer of high-quality paper suitable for printing, writing, and packaging purposes. Its paper products, known for their global quality standards, find application across a wide spectrum of industries including printing, writing, publishing, stationery, notebooks, and packaging.
In the fiscal year 2020, the company made a significant move by acquiring a substantial stake in Andhra Papers(72%).
Furthermore, the company operates a state-of-the-art manufacturing facility in Mysore, dedicated to the production of optical fiber cables.
🔹 Technicals:
▸ Price has been moving in 40% range for the last 1 year
▸ Price is above all key MAs, which is a positive sign
▸ Weekly breakout followed by a pause
▸ The price is near the previous ATH and 20 EMA. This creates a confluence zone.
▸ Good chance that it goes into consolidation in the current range before heading higher.
▸ A demand zone is present at 580-615. This is also coinciding with 50 EMA.
▸ 200 EMA is also coinciding with the demand zone, thereby creating a confluence zone.
🔸 Financials:
March 2023
▸ Sales: 4921 Cr
▸ Sales Growth: 45%
▸ Net Profit: 1087 Cr
▸ Net Profit Growth: 214%
▸ Debt/Reserves ratio: 9%
▸ OPM: 12%
March 2022
▸ Sales: 3378 Cr
▸ Sales Growth: 50%
▸ Net Profit: 346 Cr
▸ Net Profit Growth: 8650%
▸ Debt/Reserves ratio: 28%
▸ OPM: 19%
March 2021
▸ Sales: 2245 Cr
▸ Sales Growth: -10%
▸ Net Profit: -4 Cr
▸ Net Profit Growth: -101%
▸ Debt/Reserves ratio: 49%
▸ OPM: 33%
Rising sales with promising profit growth, OPM% and reducing debt makes the stock a good candidate from a positional perspective.
Disclaimer: I am NOT a SEBI Registered Analyst and the information provided here is NOT investment advice. This post is intended solely for educational purposes.
HDFCBANK - Near Important Support ZoneNSE:HDFCBANK offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side.
Positives:
Company with high TTM EPS Growth
Good quarterly growth in the recent results
Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
Efficient in managing Assets to generate Profits - ROA improving since last 2 year
Increasing Revenue every Quarter for the past 4 Quarters
Company able to generate Net Cash - Improving Net Cash Flow for last 2 years
Annual Net Profits improving for last 2 years
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
FII / FPI or Institutions increasing their shareholding
Negatives:
MFs decreased their shareholding last quarter
Decline in Net Profit with falling Profit Margin (QoQ)
Declining profits every quarter for the past 2 quarters
Weak Momentum: Price below Short, Medium and Long Term Averages
NOT A RECOMMENDATION. JUST FOR EDUCATION. Thanks.
#nifty"Good morning! As of September 21st, global market sentiment is negative, primarily due to the performance of the Dow Jones. The market trend is bearish, and it may open with a significant gap. We don't know where it will open, but the sentiment remains the same. If the initial market experiences a sharp pullback around the immediate support zone, then we can expect a maximum of 23% to 38% Fibonacci pullback. On the other hand, if it breaks the immediate support zone, we can anticipate a continuation of the correction with minor consolidation."
BIOCONHello & welcome to this analysis
Stock is among the rare few which had a lengthy period of correction which broke the Covid lows.
Its trying to reverse as can be seen in lower time frame but higher time frame still lacks confirmation and is suggesting volatility.
I have explained the levels on both sides which would give a clearer direction of trend.
Hope this helps
Happy Investing
BankNifty-Selling The Tops with Wedge: The Precise Peak 44650Hello All,
Our tiny heroes reached a majestic peak at 44669 as per last idea published yesterday, just as we imagined in our dreams! This peak was not just a high point, it was a place where they could see the entire playground sprawling below. But as we all know, after reaching the top, there's a thrilling slide waiting! Our numbers decided to swoosh down, and guess where they are heading? Yes, you got it right, towards the fun zone of 44300, our lower band of support we chatted about yesterday! (Precise top at 44669 - What a sight to behold!)
The Rising Wedge close to 44650’s
the Rising Wedge! WaveTalks spotted - this intriguing pattern early on through last idea. It’s like a see-saw that's tilting ever so slightly, warning our number friends to be ready for a possible change in the direction of their play. And guess what? Our assumption came true! The numbers took a fabulous turn, bringing a rush of exhilaration to our adventure! (A fabulous start with a cautious note from the rising wedge)
Intraday Targets
44400
44300
44150
Best Wishes from WaveTalks
Remember, at WaveTalks, we're always listening to the whispers of the waves, sharing the secrets of the numbers' adventurous journeys. We ask, "Can you hear it?"
The Last Idea based on 109 Session Moving Average
Disclaimer:
Trading in financial markets comes with its risks, and one might encounter dips and turns that could result in loss. Always consult with your financial advisor before making decisions in this adventurous playground. WaveTalks encourages a responsible and informed approach to the financial adventure.
