FORECAST: Price rejects previous high and heading towards resistance, small downtrend we can expect here.
100 EMA: Downtrend
800 EMA: Downtrend
Note: Scalp Trade can be profitable at the moment
Closing above 308 tomorrow and remaining bullish for a couple of days will open up an opportunity to take a shot at a level of 420 in intermediate term and eventually 590.
FORECAST: Price bounce from the trendline and making a reversal wedge but pivot point is not broken yet, so most likely uptrend will continue from 1867.
100 EMA: Uptrend
800 EMA: Uptrend
might hit 7878 in short time!
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend.
Fib Retracement:
Top: $29.90
Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 - $27.8 .
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use...
We were long in banknifty since a long time; I have been trying to keep an update on the levels. Now, since it is moving a bit in range since sometime, it is not showing clarity for wave counting, it could be some wedge\ending diagonal. Never mind, right now it seems bullish for 30860/31120. 30860 can be touched on Monday itself, and if opens gap up, then it might...
In the next three days we will see a decisive move in the counter due to the symmetric triangle formation which is supported by the diminishing volume. In case of down move a support line around 1700-1750 will stop any further downfall. An up move has a short limit and will have to break out it for distinct up move. No upside target as of now, in case of up move
