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Shriram Finance : Technical Analysis Suggests Bullish TrendNSE:SHRIRAMFIN The stock of Shriram Finance Company is currently trading above the 20-day exponential moving average (EMA), the 50-day EMA, and the relative strength index (RSI) is near 60. The stock has also re-entered the channel that it was trading in before the recent correction. This suggests that the stock is in a bullish trend and could continue to rise. The Elliott wave theory suggests that the stock is currently in wave 5 of a larger uptrend. Wave 5 is typically the longest and most powerful wave of a trend, so it is possible that the stock could rise significantly from here. The lookalike correction wave ABC is also complete, which is another bullish signal. The triangle breakout is also a bullish signal, as it suggests that the stock is breaking out of a period of consolidation and is ready to resume its uptrend. Overall, the technical analysis of Shriram Finance Company is bullish. The stock is trading above key moving averages, the RSI is near 60, and the stock has re-entered the channel that it was trading in before the recent correction. The Elliott wave theory also suggests that the stock is in wave 5 of a larger uptrend. However, it is important to remember that technical analysis is not always accurate. There is always the possibility that the stock could go against the technical analysis and decline. Therefore, it is important to do your own research and to only invest money that you can afford to lose. Target price: 1487 Invalid level: 1316 Risk warning: Please buy at your own risk. Happy trading.
NSE:SHRIRAMFINLong
by Ajay7871
BITCOIN (BTC) analysis by Elliott Wave theory on monthly basisSince 2017 starting point of BTC, it have Ist wave in triangle pattern (means mostly if 1 wave have triangle pattern then 3nd wave is longest which have completed in BTC & hit 3.618% of Fibonacci ratio. 4 wave taken more time consumed & 5th wave also complted as per elliott wave. then big correction has also done (a,b,c in form). hence total 08 wave have complted of elliott wave. Note: Now new Impluse wave has started. if anyone buying BTC can this level this is only education purpose. BITCOIN (BTC) analysis by Elliott Wave theory on monthly basis. Triangle pattern Triangle pattern 3.618% (64K) touched, fibonacci ratio point exactly Corrective wave also completed through Elongated pattern TARGET: Future target but take time (But it can in form of Impulse wave or in other wave. but this is right time to buy BTC
Long
by pnjakh1984
NFP report: How Will it Shape the Gold Trend?NFP report: How Will it Shape the Gold Trend? Gold prices experienced a rise on Tuesday and Thursday (sideways on Wednesday), driven by traders' expectations of another interest rate hike by the US Federal Reserve. But is the medium-term downtrend really over? One fundamental indicator that can help answer this question is the nonfarm payrolls, due to be released this Friday (US time). Any unexpected outcomes could lead to heightened volatility in rate-sensitive assets such as gold. Market projections indicate that the upcoming nonfarm payrolls report for May will show a slowdown in job additions to the economy, with 190,000 jobs compared to the 253,000 jobs added in April. Interestingly, the forecast for the previous month was also around 190,000 jobs. The nonfarm payroll data serves as the final key indicator ahead of the release of inflation data on June 14 and the concurrent interest rate decision from the Federal Reserve. Market sentiment currently suggests a 60% probability of a 25 basis-point interest rate hike during the Federal Reserve's upcoming June meeting, compared to a 26% chance observed a week earlier. If implemented, this would mark the central bank's 11th consecutive rate increase. Gold was trading around $1,932, reaching its lowest level since March 17 before its incline began on Tuesday. While Thursday was a positive day for the metal, it still retraced about half of its gains on the day and now trades at approximately $1,960. It peaked at $1,974, which is the most immediate resistance level but without much historical precedence. Considering the NFP is still two days away, this level might become irrelevant. $1,985 is a level with more medium-term precedence but will have to wait until closer to the release of the data to tell if this level is something that needs to be watched. If gold turns to the downside, it might pay to keep an eye on $1,938 as a support level.
BLACKBULL:XAUUSD
by BlackBull_Markets