Harmonic Patterns
NIFTY50 - 11-10-2024 FRIDAYPre-Open Order Collection Closed 11-Oct-2024 NIFTY 50 24,985.30 -13.15 (-0.05 %)
Advances - 28 Declines - 16 Unchanged - 6
Max free Float: Order wise (H-L)
HDFCBANK
RELIANCE
ICICIBANK
INFY
ITC
BHARTIARTL
TCS
Status Flat:
RESISTANCE: 25000
SUPPORT: 25000
MARKET TO STAY FLAT TO DOWNWARDS
PREMIUM EATER DAY
Gold Price Surges UnexpectedlyHello everyone, this is Alisa. Today, let's join me in updating the latest developments in gold!
The gold price surged significantly, reaching 2,644.18 USD/ounce. The main driving force came from the U.S. inflation data released this morning. Specifically, the U.S. Consumer Price Index (CPI) increased by 0.2% in September, which was lower than expected. This eased inflationary pressure and prompted investors to pour money into gold as a safe-haven asset.
Observing the 1-hour technical chart, Alisa noticed that the price within the channel had gained strong upward momentum. This was truly a rebound after a brief period of decline for the metal. With support at 2,628, gold’s upward trend has resumed. Additionally, technical indicators like RSI and Stochastic are also giving buy signals.
What a volatile day! How about you all? Do you think gold will rise or fall?
#nifty directions and levels for October 11th.Good morning, friends! 🌞 Here are the market directions and levels for October 11th.
Market Overview:
There have been no significant changes in the global or local markets. The global market is displaying a bullish sentiment, while our local market is showing a moderately bearish trend. A neutral to slightly gap-down opening is anticipated today, with SGX Nifty indicating a negative -20 points as of 8 AM.
In the previous session, Nifty consolidated while Bank Nifty saw a solid upward move; however, it closed near the previous day’s high. Structurally, both indices differ, but sentiment suggests that major movements are slowing down. so If the market opens neutral, it may consolidate between nearby support and resistance levels. After that, if a breakout occurs, we can follow the direction—whether to the upside or downside. This is our primary direction for today. Let’s take a closer look at the charts.
Nifty Current View:
If the market starts neutral or negative, it may find support around 24,924 to 24,900. If support is found, Nifty could consolidate between 24,924 and 25,001 on the upside. After this, if the range breaks, we can follow the direction, whether it’s to the upside or downside. This is our first variation.
Alternate View:
The alternate view suggests that if the market breaks or consolidates around the immediate support level (24,924), the correction may continue, reaching at least 78% to the downside.
#banknifty directions and levels for October 11th.Bank Nifty Current View:
The sentiment is similar to Nifty. If the market starts neutral or negative, it may consolidate between minor 38% and the upside level of 51,812. After this, if a breakout occurs, we can follow the direction, whether to the upside or downside. This is our first variation.
Alternate View:
The alternate view suggests that if the market breaks or consolidates around the immediate support level (minor 38%), the correction may continue towards 51,065 to 50,806 on the downside.
PONDY OXIDES & CHEM LTD Looks Good for LongPONDY OXIDES & CHEM LTD Looks Good for Long
Completed Harmonics Pattern Bullish Reversal. has tested August ( 2024 ) level of 1745
Looks a Good Support as Previously on 30 August has been Bounced upward from Same Level
Good to Buy. CMP 1992. Buy Around 1950-1800 Target 2164,2376++ SL 1745.
Can Create a New All Time High
PARAS DEF AND SPCE TECH Looks Good for LongPARAS DEF AND SPCE TECH Looks Good for Long
Completed Harmonics Pattern Bullish Reversal. has tested the level of 970 Previous Breakout point Holding Above Resent Support Zone Looks Good to Buy. CMP 1084. Buy Around 1090-1000 Target 1200,1315,1426,1562 SL 970
Nasdaq-100- Intraday Levels - 10th oct 2024 may not be much movement today.. few levels are marked on chart
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
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RENDER/USDT Bullish Chart Analysis#RENDER/USDT Chart Analysis
CRYPTOCAP:RENDER looks promising, with the next uptrend depending on the $4 support level. If $4 holds, we could see a target of $20!
However, if $4 breaks, expect a potential drop toward $1 support.
Key Levels:
Strong Supports: $4 / $1.50
Resistance: $6.50
BAJAJ FINANCEHello and welcome to this analysis
After reversing from a bearish harmonic Gartley pattern its now gone on to test its previous breakout level.
In lower time frame its forming a bullish RSI divergence. Sustaining above 7400 it could retest 7700 and more provided it does not break 7200.
Happy trading and investing
AUDUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
GMR INFRA By KRS ChartsDate: 23rd July 2024
Time: 8:13 PM
Why GMR INFRA?
1. Despite under 100 Rs Stock , GMR INFRA is continuously in Uptrend for bigger time frame too.
2. Here, we can clearly see that price action has made Flag & Pole Chart Pattern and Breakout too and today it retests the resistance line and sustained those levels.
3. For more support 100EMA is right underneath of recent low as we can see in chart.
After all, above points denote that GMRINFRA is BUY from current price for 112 Rs. of Target with SL of Recent low ~88 Rs.
Nifty Intraday Levels | 10-OCT-2024This trading strategy focuses on scalping Nifty options based on institutional support and resistance zones and executing trades using order flow data. Here's a quick summary of the key points:
1️⃣ Zones to Focus on:
👉Green Zone: Represents institutional support.
👉Red Zone: Indicates institutional resistance.
👉Gap Between Zones: Typically ranges from 100-200 points.
👉Zone Creation: Uses pivot points and Fibonacci levels.
👉Price Action: An advanced version for refined entries and exits.
👉Chart Reference: Trades are executed based on the Nifty futures chart.
2️⃣ Trade Execution:
👉Order Flow Data: Trades are triggered by tracking the market's order flow.
👉Timeframes: Focus on the 1-minute and 5-minute charts for quick scalps.
👉Risk-Reward Ratio: Strict 1:2 (Risk 1 to gain 2).
👉Strike Price: Target at-the-money (ATM) or slightly in-the-money (ITM) options.
👉Position Sizing: Customize based on personal risk tolerance.
3️⃣ House Rules:
👉Sharp Execution: Be ready at 9:15 AM for market open.
👉Risk Management: Always a priority.
👉Quick Trades: Fast execution "morning breakfast".
👉Strict Stop-Loss: Set at 10 points to limit losses.
This method is well-structured for traders who prioritize risk management and quick scalping opportunities in the Nifty market.
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#nifty directions and levels for October 10th.Good morning, friends! 🌞 Here are the market directions and levels for October 10th.
Market Overview:
The global market is displaying bullish sentiment, while our local market shows a moderately bearish trend. A gap-up opening is anticipated today, with SGX Nifty indicating an increase of approximately +110 points as of 8 AM.
In the last session, we saw a lot of movement due to the RBI policy. The market is still somewhat weak overall, but the Gift Nifty is showing a positive start with around +100 points gap-up. This is because of global factors, like the Dow Jones going up strongly after the FOMC minutes. Gift Nifty also reacted to this.
What should we do with this sentiment? We should wait for a breakout in a certain range. If the market breaks this range, we can follow that direction because of the mixed local and global factors. I'll explain this more clearly in the charts.
Nifty and Bank Nifty have similar chart patterns.
Nifty Current View:
The current view suggests that if the gap-up doesn't sustain or the market rejects near the immediate resistance level of 25,173, then the correction may likely continue with a minimum downside of 78%. However, one additional confirmation is needed: after rejection, the market should break the lower trendline or the previous day's closing candle.
Alternate View:
The alternate view suggests that if the gap-up sustains, the market may consolidate around the 25,173 level. After consolidation, if this level is broken, we can expect the pullback to continue, targeting a minimum upside level of 25,272 to 78%.
#banknifty directions and levels for October 10th.Bank Nifty Current View:
Similar to Nifty, if the gap-up doesn't sustain or the market rejects near the immediate resistance level of 51,535, the correction may likely continue with a minimum downside of 78%. Again, confirmation is needed: after rejection, the market should break the lower trendline or the previous day's closing candle. This is our first variation.
Alternate View:
The alternate view suggests that if the gap-up sustains, the market could reach the 51,535 level. After that, if the market consolidates or breaks this level, we can expect the pullback to continue, targeting a minimum upside level of 51,812 to 51,895. This forms our alternate variation.
USD/JPY: Risk of Decline WarningToday, let's join Alisa in observing the USD/JPY pair to see how it's performing! Will it go up or down?
The USD/JPY pair is fluctuating around the 149 mark, impacted by various factors. A stronger-than-expected U.S. jobs report has lowered expectations for the Fed to ease monetary policy, providing support for the USD. Meanwhile, within the Japanese government, there are conflicting signals regarding monetary policy. The upcoming election on October 27 further complicates the situation as leaders must balance market stability with meeting voter expectations.
The resistance level at 149.350 is the focal point. If USD/JPY fails to break through this level, combined with uncertainties surrounding Japan’s monetary policy and pressure from the U.S. jobs report, there is a high likelihood that the pair will turn downward. Investors should be cautious of short-term downside risks.
What do you think of my analysis? Feel free to comment and let me know!
Gold Prices Decline for 6 Consecutive Sessions, Facing ResistancGold prices fell for the sixth consecutive session on Wednesday (October 9), driven by a stronger USD and diminished expectations for a more aggressive rate cut in November 2024.
Gold is currently hovering around $2,608.880, after hitting a key support level at $2,575.921. This is a crucial support zone that buyers need to defend to prevent further declines.
At present, gold is facing strong resistance at $2,648.815 and $2,624.834. If these levels cannot be surpassed, gold is likely to continue correcting down to the nearest support at $2,575.985. However, if buyers manage to push prices past the current resistance, the market could see a short-term rally.
The RSI indicator is currently at 36.19, suggesting that bearish momentum still dominates and warning of a potential deeper correction.
Option TradingTo read an option chain, you can look for the following information:
Strike price: The price at which the stock is bought if the option is exercised
Premium: The price of the options contract, or the upfront fee paid by the investor
Expiry dates: The dates on which the option expires, which can affect the premium
Open interest (OI): The total number of outstanding option contracts that have not been settled
Implied volatility (IV): A percentage that indicates the expected price fluctuations, and the level of uncertainty or risk in the market
Bid: The best available price at which the option can be sold
Ask: The best available price at which the option can be purchased
Volume: The number of transactions that have occurred on the current trading day
Net change: The net change of LTP, where a positive change indicates a rise in price and an unfavorable change indicates a decrease in price
Bid qty: The number of buy orders for a specific strike price
Ask qty: The number of open sell orders for a specific strike price
Here are some other tips for reading an option chain:
The option chain is divided into two sections, calls and puts, with calls on the left and puts on the right
The current market price is displayed in the center
ITM call options are usually highlighted in yellow
Higher open interest usually indicates higher liquidity and market activity