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Harmonic Patterns

#Nifty directions and levels for January 29th:Good Morning, friends! 🌞 Here are the market directions and levels for January 29th: Market Overview: There have been no significant changes in the global markets, which are still maintaining a bullish sentiment based on the Dow Jones. However, our local market is showing a moderately bearish sentiment. Today, the market may open neutral to slightly gap-up, as Nifty indicates a positive move of 40 points. In the previous session, both Nifty and Bank Nifty had a solid rally, but by the end of the day, they fell slightly. Structurally, the market is still in bearish territory. So, today's session may see some consolidation within the previous day's range. Let's look at the chart. Both Nifty and Bank Nifty share the same structural sentiment. Nifty Current View: Even if the market starts with a gap-up, structurally, it may not sustain. So, if the market declines initially, we can expect a correction towards the 22862–22827 level, which is a major support zone. If the market finds support here, it is likely to bounce back to its opening levels. > On the other hand, if the market breaks this zone or consolidates around it, the correction will likely continue towards 22776, a minor pullback zone. Alternate View: If the gap-up sustains, 23089 will act as strong resistance. If the market gets rejected at this level, we can expect a range-bound session. However, if it consolidates or breaks above this level, the rally will likely continue towards 23185 and the 78% retracement level.
NSE:NIFTY
by Manickamtraders
4
#Banknifty directions and levels for January 29th:Bank Nifty Current View: The current structure in Bank Nifty is similar to Nifty. If the market declines initially, we can expect a correction towards 48614, which is a major support zone. If the market finds support here, it may bounce back to its opening level with a bullish bias. > On the other hand, if the market breaks this zone or consolidates around it, the correction will likely continue towards 48465–48252. Alternate View: If the gap-up sustains, 49142 will act as strong resistance. If the market gets rejected at this level, we can expect a range-bound session. However, if it consolidates or breaks above this level, the rally will likely continue towards 49264, a minor rejection zone.
NSE:BANKNIFTY
by Manickamtraders
#Nifty directions and levels for January 30th:Good Morning, Friends! 🌞 Here are the market directions and levels for January 30th: Market Overview There have been no significant changes in the global markets, which continue to maintain a bullish sentiment, as indicated by the Dow Jones. However, our local market is showing a moderately bullish sentiment. Today, the market may open with a neutral to slight gap-down due to the Nifty indicating a negative sign of -4 points. In the previous session, both Nifty and Bank Nifty maintained a bullish bias, but there haven't been any new developments. If the market starts to pull back, we can expect further continuation with some consolidation. Conversely, if it begins to decline, we might see a range-bound market within the previous day's range. Structurally, a correction appears to have a low probability; however, if it breaks the major zone, we could consider that a correction. Let’s look at the charts. Nifty Current View The current view suggests that if the market starts with a pullback, it could reach the 78% mark, which is a key Fibonacci level for predicting market direction. Today, if the market breaks above 78%, we can expect further continuation of the rally with some consolidation. Conversely, if the market gets rejected at this level, we can anticipate a minor correction of 23% to 38% in the current minor swing. Alternate View The alternate view indicates that if the market starts to decline, it could consolidate between the previous high and the 38% Fibonacci level. A correction is expected only if it breaks the 38% level. If that happens, we can anticipate a correction of at least 50% to 78% in the current swing. Until the 38% level is broken, the market bias could remain moderately bullish.
NSE:NIFTY
by Manickamtraders
NG Feb Expiry Plan New Selling Target 295 to 300 This range reached Butterfly pattern, Take Buy Target @ "B" B is Retest range... This range break and sustain Next target C Break... I mean 390 to 400 Incase "B" Retest, Take Selling target 260 Around SL 1Hr candle close only, Target Trigger Price All detail for chat. good entry at mark price only. and must stoploss minimum risk and good profit. risk ratio 1:1 to manage modified SL. This is not call, Just my idea. Please understand your risk and take full responsibility of your actions
MCX:NATURALGAS1!Short
by BUY_TODAY_Tamil
1
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of January 30, 2025, the EUR/USD pair is exhibiting signs of a potential bullish movement. **Market Pulse** The EUR/USD is currently trading within an ascending channel, indicating a short-term bullish trend. The pair is testing the support area near 1.0395, suggesting a possible rebound and continuation of the upward movement. **Key Technical Levels** - **Resistance:** 1.0485 - **Support:** 1.0395 **Technical Indicators** - **Trend:** The pair is moving within an ascending channel, indicating a short-term bullish trend. - **RSI:** A rebound from the support line on the RSI indicator suggests a potential upward movement. **Trade Recommendation** Considering the technical indicators and the prevailing bullish trend, initiating a **buy** position is advisable. - **Entry Point:** Buy at 1.0400 - **Take Profit (TP):** 1.0635 - **Stop Loss (SL):** 1.0325 **Risk Management** This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. **Conclusion** The EUR/USD pair is showing signs of a potential bullish movement, supported by technical indicators. Traders should monitor key levels and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Short
by RBSBALA
#Banknifty directions and levels for January 30th:Bank Nifty Current View The current view for Bank Nifty is similar to that of Nifty. If the market pulls back, it could reach a minimum of 49,381 to 49,400, which is a rejection zone. If it consolidates or breaks this level, we can expect further continuation. On the other hand, if it gets rejected sharply there, we can expect a correction of at least 50% to 78% in the current swing. >For reversal confirmation, we can use the EMA20 on the 15-minute chart. In a directional market, this indicator works well, but if the market starts to grind, it may show some false signals. Alternate View The alternate view suggests that if the market starts to decline, it could reach a minimum of 48,850 when it breaks the 38% mark. If this happens, the demand zone will act as strong support, and structurally, we can expect a pullback here. However, we should note that if the market reaches this level in a straight line or consolidates without any pullback, the probability of further downside increases.
NSE:BANKNIFTY
by Manickamtraders
RELIANCE (Reliance Industries Ltd)- AnalysisBullish Levels -day closing above 1250 (early entry risky) then 1336 (safe entry if day closing above this) first target can be around 1400 if sustain above this for a week or two then we can expect targets of long term targets can be around 2200 then 2400 and last Stop for now would be around 2600 Bearish levels :- Day closing below 1130 SL for swing trade then 1070 strict SL for Long term Investor below this more bearish. **Consider some Points buffer in above levels **Disclaimer -  I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk. Thank you
NSE:RELIANCELong
by PrashantTaralkar
Long Trade Idea: NSE:RADICO🚀 Long Trade Idea: NSE:RADICO (Radico Khaitan Ltd) 🚀 📌 Current Price: ₹2,111.20 📌 Analyst Target Range (1-Year Forecast): ₹2,380 - ₹2,996 📌 Analyst Consensus: Strong Buy 📊 Technical Analysis Highlights: 1️⃣ Liquidity Sweep: - Today's daily candle has swept the liquidity from 22nd October 2024, signaling a possible bottom formation and potential reversal. 2️⃣ Nen Star Harmonic Pattern (27.01.2025): - This harmonic pattern is a strong reversal signal, suggesting the end of the ongoing downtrend and a shift towards bullish momentum. 3️⃣ Relative Strength vs. NSE:NIFTY: - The 123-period Relative Strength (RS) of RADICO compared to NSE:NIFTY is positive, indicating outperformance and potential upside in the coming sessions. 4️⃣ Chart Pattern - Falling Wedge: - The stock is forming a falling wedge, which is a bullish breakout pattern. A breakout above resistance could trigger a strong upside move. 5️⃣ Discounted Price Opportunity: - The stock is trading at a heavy discount relative to analyst price forecasts and fundamental valuation, making it an attractive buy for traders and investors. - Revenue Growth: Consistent increase in revenue driven by premiumization of products. - Profit Margins: Healthy margins indicate strong pricing power. - Industry Outlook: Alcoholic beverages sector remains resilient with growing demand in India. ⚠️ Disclaimer: *This analysis is for educational and informational purposes only and should not be considered as financial advice. Stock market investments involve risk. Please do your own research or consult a certified financial advisor before making any investment decisions. I am not a certified financial analyst.*
NSE:RADICOLong
by profitpulsepro
EURUSD NEXT POSSIBLE MOVE SAXO:EURUSD As of January 28, 2025, the EUR/USD pair is encountering significant overhead resistance, suggesting a potential opportunity for a **sell** entry. **Market Pulse** The EUR/USD is struggling below key resistance at 1.06 as traders await Federal Reserve and European Central Bank decisions. The pair has been in a downtrend, and the current rally may present a selling opportunity. )) **Key Technical Levels** - **Resistance:** 1.0600 - **Support:** 1.0300 **Technical Indicators** - **Trend:** The pair remains in a downtrend, with the recent rally approaching significant resistance levels. - **RSI:** The Relative Strength Index is approaching overbought territory, indicating potential for a reversal. - **MACD:** The Moving Average Convergence Divergence shows diminishing bullish momentum, suggesting a possible downturn. **Trade Recommendation** Considering the technical indicators and the prevailing downtrend, initiating a **sell** position is advisable. - **Entry Point:** Sell at 1.0580 - **Take Profit (TP):** 1.0300 - **Stop Loss (SL):** 1.0650 **Risk Management** This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy. **Conclusion** The EUR/USD pair is facing significant resistance, and technical indicators suggest a potential reversal. Traders should monitor key levels and manage risk appropriately. *Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*
Short
by RBSBALA