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Harmonic Patterns

NIFTY50- 27-09-2024 FRIDAYPRE OPEN 26,248.25 32.20 (0.12 %) Advances - 23 Declines - 20 Unchanged - 7 TOP 5 WEIGHTAGES Symbol PREV. CLOSE IEP Chng %Chng RELIANCE 2,995.90 2,998.00 2.10 0.07 HDFCBANK 1,783.45 1,777.00 -6.45 -0.36 ICICIBANK 1,329.05 1,333.00 3.95 0.30 INFY 1,900.25 1,932.10 31.85 1.68 LT 3,762.15 3,738.00 -24.15 -0.64 BHARTIARTL 1,771.10 1,755.20 -15.90 -0.90 RESISTANCE 26200 SUPPORT 26200 SPOT - RESISTANCE IS MOVING UPWARD TO 26300 SO EOR WILL CHANGE TO 26359. RESULT: MARKET CAN TOUCH 26349 IF RELIANCE OR HDFC TURNS POSITIVE WHICH ARE MOVING FLAT AS FOR NOW. If both move further down. Market can make a lower levels of 26139 which is lower possibility. Regards
NSE:NIFTYLong
by ajayekka002
Rajnandini Metal Ltd - (RAJMET) - Analysis Bullish Levels -day closing for 2-3 days above above 11 (early entry) then 17.80 (safe entry) if sustains above this then tragest can be 23 to 28 long term tragets can be around 173 to 182 Bearish levels :- Day closing below 8.50 Swing trade SL then 6.80 (SL for Long term Investor) below this more bearish **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:RAJMET
by PrashantTaralkar
1
Bajaj Auto Ltd - Breakout Setup, Move is ON...#BAJAJ_AUTO trading above Resistance of 10789 Next Resistance is at 12530 Support is at 9240 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:BAJAJ_AUTOLong
by MandeepSinghKohli
Banknifty formed Bearish Harmonic PatternAs we see on daily time frame its has formed a Bearish Harmonic pattern and even FII Long short percentage has reaching its Highly Overbrought senario where we can expect a good correction in coming days. Support and resistance levels are marked in chart, note after a retracement it may try to make double top means again may retest all time high and from there we can see a good correction. Just a view not a Reco.. may be wrong as well of making double top situation.
NSE:BANKNIFTYShort
by gttsudhakar
3
USD/JPY: Break Through $143.593 or Face a Deep Correction?The USD/JPY chart reveals an intense battle between buyers and sellers as the price hovers around $142.215. The support level at $141.682 acts as the final "shield" against any deeper declines. The current focus is on the key resistance at $143.593. If USD/JPY can break through this level, the path to $146.010 will open, offering a chance to reach new highs. However, if buyers fail to maintain momentum and the price falls below the $141.669 support, the pair may face a strong correction, pushing the market into a high-risk zone. Crucially, major economic news from Japan and unexpected moves from the BoJ will be decisive factors, with the potential to shift the course of this battle at any moment. Will USD/JPY rise to the challenge or retreat under market pressure?
Long
by Romio_pro
1
Gold Pauses After a Hot Rally, but the Outlook Remains PositiveHello everyone! How are you all doing today? Let's analyze today's gold movements together! The gold market is going through a correction phase after a hot rally. Technical selling pressure has emerged as some investors are concerned about a potential price adjustment. However, with ongoing support from geopolitical factors and monetary policies, gold is still forecasted to continue growing in the near future. Looking at the technical chart, gold is still trading steadily within an upward price channel. With support at 2560 and resistance at 2670, there is a high likelihood that gold will continue testing this resistance level. If gold successfully breaks the 2670 resistance, we can expect an even stronger rally towards the next targets. What do you think?
OANDA:XAUUSD
by Alisa_Rokosz
USD/JPY: The Uptrend is Strengthened, What's the Next Target?It’s Alisa again! Let’s analyze the current movement of the USD/JPY pair together! The USD/JPY pair surged to nearly 145.20 on Friday morning, reaching its highest level in almost three weeks. This buying pressure came after the release of Tokyo's CPI data. However, the market is now focusing on the U.S. PCE index, which will be released later today. The outcome of this index is expected to have a significant impact on the USD/JPY pair's movement. Looking at the technical chart, this pair is forming a clear short-term uptrend. The key support level at 143.025 acts as a strong foundation, ready to support the price in case of a correction. Additionally, observing the 34 and 89 EMA lines, we can see a bullish reversal, further reinforcing the upward prediction for this pair. What do you think about my analysis? Does it align with your thoughts?
by Alisa_Rokosz
#Nifty directions and levels for September 27th.Good morning, friends! 🌞 Here are the market directions and levels for September 27th. Market Overview: There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly negative, with SGX Nifty indicating a negative of around -20 points as of 8 AM. In the previous session, the market had a minor movement in the second half. Structurally, it still maintains a bullish bias. So even if the market starts negatively today, the bullish momentum might continue. However, if the initial market declines sharply, we should follow that; let’s look at this in the charts. Nifty and Bank Nifty both share the same sentiment. Nifty Current View: The current view indicates that if the market opens with a gap-up or if the initial market takes support around the Fibonacci level of 38%, then the rally will continue if it breaks the previous high. Until then, it could consolidate between the previous high and the Fibonacci level of 38%. This is our first scenario. Alternate View: The alternate view suggests that if the initial market breaks the Fibonacci level of 38% solidly, then the trend will turn into a minor correction phase. If this happens, we can expect correctional targets between 50% and 78% in the minor swing.
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NSE:NIFTY
by Manickamtraders
2
#Banknifty directions and levels for September 27th.Bank Nifty Current View: Bank Nifty is also following the Nifty sentiment. If the market opens with a gap-up or if the initial market sees a solid pullback, it could reach 54,655. However, some rejection could also occur. This is our first scenario. Alternate View: If the initial market breaks or consolidates around the 50% Fibonacci level, we can expect a correction down to the 78% level or the swing low. On the other hand, if it doesn't break, the market will likely turn into a range between the previous high and the 50% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
Will Gold Break a New Record?Hello everyone, Alisa here! Will gold prices maintain their upward momentum today? Let’s analyze it together! Escalating tensions in the Middle East have raised concerns about a larger-scale conflict, prompting investors to turn to gold as a safe haven. Additionally, better-than-expected U.S. labor market data has increased expectations for the Fed to continue its loose monetary policy, thereby supporting the rise in gold prices. Looking at the technical chart, gold is moving within an upward channel, indicating that the positive trend is still intact. The 2,540 support level serves as a solid foundation, providing momentum for a new rise. The stable alignment of the 34 and 89 EMAs further strengthens investor confidence. With these supporting factors, the short-term target of 2,700 is entirely feasible. What about you? What do you think about gold prices today? Let me know your thoughts!
OANDA:XAUUSD
by Alisa_Rokosz
XAU/USD: Awaiting a Breakthrough at $2,720 or Correction?The XAU/USD chart on September 26 tells an exciting story of gold's bullish momentum. After hitting $2,661, gold is steadily advancing, shielded by two strong supports—EMA 34 at $2,540 and EMA 89 at $2,448. These support levels act as fortresses, holding buyers firm and allowing gold to continue climbing. However, all eyes are now on the key psychological resistance near $2,720, a critical barrier that, if broken, could pave the way for new highs. Upcoming FOMC statements could significantly impact XAU/USD.
OANDA:XAUUSDLong
by Romio_pro
Banknifty , Crude oil and Copper Divergence Divergence is a technical analysis concept that occurs when the price of an asset and a technical indicator move in opposite directions. It's a sign that the price of an asset may be reversing, and it can help traders recognize and react to price changes. Here are some things to know about divergence: #Types of divergence There are two types of divergence: negative and positive. Negative divergence happens when the price of a security is rising, but an indicator is falling. Positive divergence happens when the price of a security is falling, but an indicator is rising. #When to use divergence Divergence can help traders make decisions like tightening stop-loss or taking a profit. #How to confirm reversals Divergence can occur over a long period of time, so traders can use other tools like trendlines and support and resistance levels to confirm reversals. #When to use convergence Convergence is when the price of an asset, indicator, or index moves in the same direction as a related asset, indicator, or index
NSE:BANKNIFTYEducation
by SkyTradingZone
3
Life of a Trader / Option's // StocksEmotional reactions Overcoming your emotions is another hurdle you may encounter as a new trader. You may make impulsive decisions out of greed, fear, anger, frustration, or excessive optimism. This can lead to losses, which in turn can reduce your confidence. To ensure you don't fall into the trap of your emotions, chalk out a detailed and rule-based strategy and try to follow it strictly. Review your trades regularly to learn from your mistakes and build stable trading behaviour. You can keep a trading journal and implement stop-loss orders to reduce emotional influence on your trading decisions. Overtrading Another common challenge that can come your way is the temptation to overtrade. You may feel tempted to overtrade to earn higher earnings or overcome losses quickly. However, more trades don’t necessarily translate into more money. Overtrading can increase your risk exposure and increase transaction costs. To overcome the temptation to overtrading, you can set predefined limits on daily or weekly trades and take a break when you reach the limit. You must also ensure that you engage in trades that align with your strategy and do not prioritise quantity over quality. Impatience As a new trader, you may lack the patience to stick to your trading strategy, especially during market fluctuations. You may opt for premature exits if gains don't materialise as quickly as expected. However, success in trading does not come overnight. You must wait for the right opportunities and patiently endure losses and phases of stagnation. A solution to this problem is to have a solid trading strategy with clear entry and exit criteria. Have faith in your plan and give it the time to work. Avoid changing your strategy too often. Once you have a solid strategy, be patient, wait for the right time and grab your opportunity. Poor risk management The stock market is highly volatile and unpredictable. One day, a stock can rise by 20% and plummet suddenly the following day. Such frequent changes in the price of an asset can overwhelm you. It also makes it challenging to plan your strategy and manage risks. You may feel tempted to chase high returns and take excessive risks. However, this can wipe out your capital in no time. This is why risk management is important in trading. Make sure your trades align not only with your strategy but also your risk profile. Before placing a trade, analyse your risk-per-trade and reward-to-risk ratio. Diversify investments to spread risks across different sectors and assets to protect your capital. Include clear entry and exit points and an emergency way in your strategy. Using stop-loss orders can also help tackle risks and minimise losses. Conclusion The stock market is both alluring and daunting. Without proper knowledge and skills, you may incur losses and even quit prematurely if things don't go as expected. However, understanding the challenges beginners often face and learning to overcome them can illuminate your path to success.
NSE:BANKNIFTYEducation
by EmpireCrown
Tomorrow focus on Infosys 1945-1950 possible in 1-2 days Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:INFY
by JaiPrakashShuklaHarmonicTrader
Banknifty continuesly buying from 51500 ,54900-55150 final TargtDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BANKNIFTYLong
by JaiPrakashShuklaHarmonicTrader
Nifty today get 130 points,26430, 26840 next Target 25960 supprtDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:NIFTYLong
by JaiPrakashShuklaHarmonicTrader