Market is expensive right now, Until the election result is declared it will go down and there are only few stocks holding the nifty higher and they are also trading at their high so at some point they will go down and nifty will find its bottom.
Break Below EMA.
Below 23.6% Fibonacci.
Weak Below 869.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Although most of indicator beginning signaling a oversold, Hull MA almost cross down into a bearish trend for a while.. i keep an eye for fib 0.382 for the possible good support around 1300 satoshi .. if it's break high possibility a downtrend keep persist.
There's also a...
As you can clearly see in the chart, Brent is entering into the resistance area and also retraced 61.8 percent. it might fall from here after consolidating for some time. wait till it comes out from the area and short when it comes back to retest.
good Risk reward from here in the downside.
Not a financial advice.
Weekly Supertrend in the green = Long Term Trend Up
Daily William%R bouncing from oversold zone = Short Term Pullback Over
Stock taking support at Trendline and near 50% Fibonacci Level = Demand Zone
Bullish Engulfing Candlestick Pattern = Strong reversal sign
Buy with a stop at Rs.189.50 for a target of Rs.213 and above
Weekly Supertrend in the Green = Bullish
Daily William%R bouncing from oversold levels = Pullback done
Bouncing back from near 50% fibonacci levels = Bullish
Support taken at an old support and resistance area = Demand zone
More than 7 times the average volume = Bullish
Buy with a stop loss at Rs.59.50 for a target of Rs.70 and above
Weekly Supertrend in the green = bullish
Daily William%R coming back from oversold range = bullish
Stock bouncing back from near 50% retracement level = bullish
ADX above 30 = momentum
Buy with a stop at 569 for the target of 700 and above
The support of 0.68840 proves to be a tough nut for the bears.
After bouncing back sharply twice, the pair was under the cloud of a bearish trendline for 5 months, which has broken now.
Also, the pair found support at 61.8% of the previous rally, which is a strong bullish sign.
Hence, we expect the trade with bullish bias. The next levels to watch out for are the...