Gold Dec Long
short term resistance breakout
support at 50 Day EMA around 46850
Buy at CMP- 46980
Target- 47190, 47320
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1. Previous All Time High Retested & bounce
2. 50 EMA act as Support in weekly Chart
3. Falling Wedge Pattern
4. Volume Increased
5. Buy Above 760 on End of day closing is Good
Caution : 50 EMA Act as Resistance in Daily Chart
The Forex major has finally broke down the textbook h&s shoulder and also broke and retested 200 EMA. Also took rejection on Fib level of 38.20. Further fall can be seen in EURUSD. Nearest support can be seen at 1.16100 which is also a Fib level of 61.80.
THE STOCK has completed its consolidation phase and we recently saw MACD crossover at a good support level above 900. we WILL also see a golden crossover in this week.. Hence providing a low risk trade setup on analysing daily chart.. SL-920 and T1-970...........
BAJAJCONS has a weekly trendline resistance and horizontal resistance at 270 level and it retraced to 230-236 level and started raising. once it closes above 270 on weekly next resistance is at 320 which coincides with 200WMA and horizontal resistance.
RSI also nearing 60, indicating bullish momentum.
it took support at 21EMA.
Price Broke out of the resistance/supply zone and gave a pullback, the price has taken support at the confluence of the previous resistance zone (which is now acting as support/demand zone) and 20 day EMA, above 93.20 can go upto 98-100 and above that can go upto 110, SL below 86 on daily closing basis, Also keep an eye on the sales numbers to be declared for...
Positional Idea : LT has formed a flag on daily charts and price is taking support at Fibo 23.6 level and 9 day EMA, close above 1148 will confirm flag breakout, safe entry above 1177, post breakout flag target is 270 points.
Views for learning purpose only.