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CNX 500Hello & welcome to this analysis The index in daily time frame is retesting a Bullish Harmonic Gartley pattern made in end January which coincides with the formation of a wedge pattern and a double bullish divergence. A bounce back could be possible if it manages to start sustaining above 20850 for 21500-22500 however, if it breaches the lower trendline of the wedge then a lot more downside would become inevitable. Harmonic Trading Patterns are formed in a combination of structures and Fibonacci ratios. When they align and give a reversal candle follow through a strong bounce/reversal probability is relatively high. Wait for confirmation and enter only then, in case of breach of falling trendline avoid the signal. Regards
NSE:CNX500Long
by Dinesh_C_Nagpal
2
Hindustan UnileverHello & welcome to this analysis FMCG sector appears to be doing better then other sectors after a very long time with Hindustan Unilever having a large weightage in the sector Strength signal - Since 2008 it has never violated the Quarterly Ichimoku Base line nor the Monthly Ichimoku Cloud. Near these support levels it becomes a very attractive value buy. This time also in 2024 it did the same. After giving a Cup & Handle breakout in the weekly time frame its seen a pullback since October 2024 along with the rest of the market. In the last 3 weeks its gone sideways whereas we have seen other sectors continue to see sharp selling. Once again highlighting that current level is seeing consistent buying support. The pullback appears to have been completed as it bounced back from its rising trend line. A daily falling wedge breakout has also witnessed a pullback now. As long as it now holds the rising trendline at 2350 it has good potential for upside suggesting a decent low risk high reward set up from short to medium term. Upside levels one can look out for above 2400 are at 2700 / 3100 / 3300 / 3600 All the best for your trading and investing My last video on the stock link is shared
NSE:HINDUNILVRLong
by Dinesh_C_Nagpal
1
Nifty / Small Cap 100Hello & welcome to this analysis The relative strength of Nifty vis a vis Small Cap index is showing signs of a reversal from its slanting trend line after a period of 56 months of underperformance. What does relative strength (RS) signify? It suggests whether the underlying financial asset (in this case Nifty) is outperforming or underperforming against another financial asset (in this case Small Cap 100) It means, in case of this RS slanting upwards In rallies Nifty will do better than Small Cap 100 In corrections Nifty will fall less than Small Cap 100 If we go by the past reference as plotted, then a big reversal could be happening in terms of time for a period of 2 years at least. The horizontal lines as marked are trigger levels one needs to review. Investing in Large caps (Nifty) appears safer than Small caps from here onwards unless this flips and continues to decline. All the best with your investing & trading decisions
NSE:NIFTY
by Dinesh_C_Nagpal
1
Dollar IndexHello and welcome to this analysis With FED all set to start the rate cut cycle from today's FOMC meet, DXY is expected to enter the potential reversal zone (PRZ) of not one but two bullish Harmonic patterns, namely, bullish AB=CD and bullish Crab, likely forming a triple bottom in the weekly time frame. The PRZ is between 100 - 99.60 while the patterns would be considered invalid below 99.50, for a possible bounce (if not reversal) till 103. When will it enter the PRZ by? Will depend totally on hawkish/dovish, FED Chairman Jeremy Powell is in his statement today. Regards
TVC:DXY
by Dinesh_C_Nagpal