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Harmonic Patterns

#Banknifty directions and levels for November 8th.Bullish View: > The bullish view indicates that if the initial market takes a pullback, then structurally it could be rejected around the immediate resistance level. If this happens, we can expect the correctional targets to be today’s opening price and the next to the yesterday low. > However, if the pullback has a solid structure, it could reach the second resistance level (which is the 78% level of the minor swing) because an ideal target in a range market is 78%, which is why I mentioned that level. Bearish View: > The bearish view suggests that there is a single sub-wave bending, so if the market breaks the previous day's low, then the immediate support may act as a strong support level. If this happens, we can expect a minimum bounce back of 23% to 38%. > Alternatively, if it breaks that level solidly, then the correctional trend will likely continue.
NSE:BANKNIFTY
by Manickamtraders
Pudumjee Paper Products Limited - Breakout Setup, Move is ON...#PDMJEPAPER trading above Resistance of 129 Next Resistance is at 178 Support is at 85 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:PDMJEPAPERLong
by MandeepSinghKohli
Welspun Corp - Breakout Setup, Move is ON...#WELCORP trading above Resistance of 750 Next Resistance is at 916 Support is at 614 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:WELCORPLong
by MandeepSinghKohli
#nifty directions and levels for November 8th.Good morning, friends! 🌞 Here are the market directions and levels for November 8th. Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market is showing a moderately bearish sentiment. Today, the market may open with a neutral start, as the Gifty Nifty is indicating a positive 10 points. In the previous session, both Nifty and Bank Nifty fell solidly, but structurally, they closed in between the swings. Whenever the market breaks the 38% Fibonacci level, we can consider that it's a ranging market. It could also be a range market. Due to global issues and FII selling, there is no clear pathway for a single direction. So, until a clear direction forms, the market could remain range-bound with a bearish bias. Today, we are going to see four variations. Let’s look at the charts. Bullish View: > The bullish view indicates that if the initial market takes a pullback, then structurally it could be rejected around the immediate resistance level. If this happens, we can expect the correctional targets to be today’s opening price and the next to the yesterday low. > However, if the pullback has a solid structure, it could reach the second resistance level (which is the 78% level of the minor swing) because an ideal target in a range market is 78%, which is why I mentioned that level. Bearish View: > The bearish view suggests that there is a single sub-wave bending, so if the market breaks the previous day's low, then the immediate support may act as a strong support level. If this happens, we can expect a minimum bounce back of 23% to 38%. > Alternatively, if it breaks that level solidly, then the correctional trend will likely continue.
NSE:NIFTY
by Manickamtraders
EUR/USD: Sellers in Control, Downward Pressure Rising!Currently, the downtrend dominates as the price continues to stay below the 34 and 89 EMAs, indicating that sellers still hold control of the market. The chart shows the nearest resistance area around 1.0850, while a crucial support zone lies around 1.0720. If the price reaches the resistance area, it will likely encounter strong selling pressure and may reverse downwards toward the support zone. The RSI indicator is currently at 44.78, not yet in the oversold zone, but still showing considerable downward momentum. With major upcoming economic events (marked by flag symbols), the market could experience significant volatility, creating trading opportunities. If the price fails to break through the resistance, this may signal a continued downtrend. Conversely, if the price breaks the resistance, the downtrend could be invalidated.
Short
by Nava_Brish
2
Nifty Intraday Levels | 8-NOV-2024Nifty Options Scalping 1️⃣ Zones to Watch: 👉Green Zone: Institutional support 👉Red Zone: Institutional resistance 👉Gap: 100-200 points between zones 👉Zone Creation: Based on pivot points and Fibonacci 👉Chart: Use Nifty futures chart for reference 2️⃣ Trade Execution: 👉Order Flow: Triggers trades 👉Timeframes: 1-min & 5-min for scalping 👉Risk-Reward: 1:2 (Risk 1 to gain 2) 👉Strike Price: ATM or slightly ITM options 👉Position Sizing: Adjust to risk tolerance 3️⃣ Rules: 👉9:15 AM Sharp: Ready for market open 👉Risk Management: Top priority 👉Quick Trades: "Morning breakfast" scalps 👉Stop-Loss: 10 points #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏 FOLLOW for more content! 👍 LIKE if you found it useful! ✍️ COMMENT below with your thoughts and feedback
NSE:NIFTY1!
by ReviveTraders
Jagsonpal Pharmaceuticals Ltd - Breakout Setup, Move is ON...#JAGSNPHARM trading above Resistance of 506 Next Resistance is at 706 Support is at 439 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:JAGSNPHARMLong
by MandeepSinghKohli
Chaman Lal Setia Exports Ltd - Breakout Setup, Move is ON...#CLSEL trading above Resistance of 343 Next Resistance is at 386 Support is at 271 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CLSELLong
by MandeepSinghKohli
USD/JPY Approaches Resistance: Will the Uptrend Continue?USD/JPY is currently in a strong uptrend as the price remains above both the 34 and 89 EMA lines. This uptrend is reinforced by a rising trendline below, acting as a key support level. The price is approaching a resistance zone around 155.00. If USD/JPY can break through this resistance, the uptrend may continue, with the next target higher than the current price level. Trump's victory may boost the USD due to expectations of new economic policies, creating downward pressure on the JPY and pushing USD/JPY higher. The upcoming Fed decision could further support this upward momentum.
Long
by Nava_Brish
Chaman Lal Setia Exports Ltd - Breakout Setup, Move is ON...#CLSEL trading above Resistance of 271 Next Resistance is at 343 Support is at 199 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CLSELLong
by MandeepSinghKohli
Welspun Corp - Breakout Setup, Move is ON...#WELCORP trading above Resistance of 614 Next Resistance is at 750 Support is at 513 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:WELCORPLong
by MandeepSinghKohli
EUR/USD Under Selling Pressure: Resistance Blocks Recovery?The 1-hour chart of EUR/USD shows a downward trend with a rounding top pattern, highlighting dominant selling pressure. Currently, the price is hovering near the resistance level of 1.07581 USD. If it fails to break through this level, EUR/USD may continue its downward trend towards the strong support area around 1.06904 USD, where buying interest could emerge. If this support level is breached, the pair could experience a deeper decline. Investors should closely monitor price reactions at these resistance and support levels to make well-informed trading decisions. Latest news impact: Recent strong U.S. economic data has boosted the USD, adding extra pressure on EUR/USD.
Short
by Nava_Brish
XAU/USD: Gold Stuck in Downtrend ChannelBased on the XAU/USD chart on November 9, gold prices are currently "stuck" in a descending channel, with the 34 and 89 EMA lines forming a strong resistance zone around 2,708 - 2,715 USD/oz. This acts as a "wall," blocking gold’s recovery path, showing that sellers still dominate. On the downside, the support level around 2,621 USD/oz serves as a temporary "safety net." If gold holds at this level, there may be a slight rebound to test the upper resistance. Conversely, if this "net" breaks, gold could slide further down within the channel. News factor: Trump's election could push XAU/USD higher due to increased political uncertainty, but it could also pressure prices downward if a stronger USD is expected from positive economic policies.
OANDA:XAUUSDLong
by Nava_Brish
1
Ripple Bull Market Chart Analysis#XRP High Timeframe Analysis 🔹 Current Setup: CRYPTOCAP:XRP is consolidating within a symmetrical triangle formation on the higher timeframe, with the 200 EMA slope remaining neutral, signaling potential continued range-bound movement. 🔹 Key Observations: - Price has tested the support level multiple times without a definitive breakdown, hinting at a possible bullish breakout. - A strong breakout above the pattern resistance, with a confirmed candle close above $0.6639, would signal bullish momentum, opening a pathway toward $1.4065 as the primary resistance/target level. 🔹 Trade Setup: - Long Position: Await a candle close above $0.6639 to confirm bullish continuation. - Invalidation: If the price breaches the support and closes below $0.4302, this setup will be invalidated.
Long
by CryptoPatel
1
NIFTY Intraday Trade Setup For 8 Nov 2024NIFTY Intraday Trade Setup For 8 Nov 2024 Sell_1- From 24400 Invalid- 24450 T- 24250 Sell_2- Below 24170 Invalid- Above 24220 T- 23945 NIFTY has closed closed on a bearish note with 1.16% cut today. Index was bearish since opening and later sell triggered below 24280 and gave 100 points. Index has entered into bearish sentiment once again. No bullish view till we get bullish price structure in daily TF. Tomorrow we will still maintain bearish stance, sell on rise approach. 24400 will be resistance for the day. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 24170 then we will short for the target of 23944. We will short in case of pullback towards 24400 zone. T- 24240. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
KIRI INDUSTRIESPRICE at 3months breakout. KIRI is a preferred resource centre for many of the most extensive product lines in textile dyes. Sophisticated quality control practices and procedures, modern manufacturing facilities and erp driven enterprise management has enabled KIRI to offer Internationally recognized quality products and services. KIRI is an accredited and certified Key Business Partner with world’s top Dyestuff majors across Asia-Pacific, the EU and Americas.
NSE:KIRIINDUSLong
by TechnicalAnalystSucrit
#nifty directions and levels for November 7th.Good morning, friends! 🌞 Here are the market directions and levels for November 7th. Market Overview: The global market is showing a super bullish sentiment, while our local market has a moderately bullish sentiment. Today, the market may open with a negative start based on the Gifty Nifty, which is showing a decline of 100 points. In the previous session, both Nifty and Bank Nifty maintained a bullish bias. However, today, the Gifty Nifty is indicating a negative start, so what’s next? Experts are saying (for Indian market) that due to the new US president, the market may experience a minor correction. However, technically we want some additional confirmation. As of now, we do not have that confirmation, so we are still in a moderately bullish bias. Let’s explain this in the charts. Structurally, both Nifty and Bank Nifty share the same sentiment. Current View: The current view indicates that if the market opens with a gap down, it may reach the 38% level on the downside. Structurally, it won’t go beyond that level. If the market finds support there, then the rally will continue with some consolidation. This is our first variation. Alternate View: The alternate view is similar to the current view. If the initial market experiences a sharp pullback, then the rally is likely to continue. This is our alternate view. Note: Here, the notable point is that if the market sustains the gap down and breaks the 38% Fibonacci level on the downside, it may turn into a ranging market. However, if we look at it from an aerial view, there is a downtrend.
NSE:NIFTY
by Manickamtraders
1