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BITCOIN FORMED BULLISH DIVERGENCE FUELING TO 75KScenario 1: CRYPTOCAP:BTC Moves Up with Strong Volume After a Rate Cut Bullish Divergence Support: The bullish divergence suggests that #Bitcoin is gaining strength, indicating a potential upward move. Volume Confirmation: If BTC moves up with solid volume post-rate cut, it could break through 74k and potentially head higher. Increased volume after the rate cut could be a sign that institutional or retail investors are confident in the rally, driving prices above previous resistance levels. Target: If this scenario plays out, BTC could surpass the 74k mark, especially if the broader market sentiment is favorable post-rate cut. Scenario 2: BTC Reaches 73k, Then Faces Another Correction Resistance at 73k: If BTC reaches 73k but struggles to break above it, this would indicate a strong resistance zone. A pullback could follow as the market hesitates or prepares for another consolidation phase. Correction Potential: In this case, CRYPTOCAP:BTC may correct before attempting another rally. This could be a short-term dip that sets the stage for a more significant breakout once the market rebalances. Target: If the price reaches 73k but can't break it, then a pullback would likely bring BTC back into a lower range for a while before making another attempt at the next breakout. Key Factors to Watch: 1. Volume: As you noted, volume is crucial. A strong volume push above resistance (like 73k) would favor Scenario 1. 2. Macro Events: The rate cut and overall macroeconomic factors could heavily influence the market. If the rate cut signals more liquidity or favorable conditions for risk assets like Bitcoin, Scenario 1 becomes more probable. 3. Market Sentiment: The overall sentiment in both crypto and traditional markets will play a role. If broader financial markets are stable or bullish, Bitcoin could push past the resistance levels. Ultimately, monitoring the price action around the 73k and 74k levels, as well as volume trends, will help clarify which scenario is more likely.
BINANCE:BTCUSD.PLong
by crypto_vulture_signals
India Inc Quarterly Earnings and Nifty Corelation We all know that our beloved NSE:NIFTY has shy of 1500 points in short time, falling from a cliff. Naturally people are eager to guess if the holy grail Bottom is there, or it will test the 4th of June Election Result Day low at least. Being a price action student, it's always good to look at the history and try to take a leaf out from it. Specifically, when I can recall what happened one year back in October 2023 where there were substantial FII selloffs before Q2 results (of FY 23-24). Of course there is a slight difference in the situation. Last year the moonsoon was not that good, this year above normal. So I took all the last 4 quarterly result and see what happened around these times in Daily timeframe. As it's evident: In 26/10/23 (Q2 results midway) there were a dip to 18850 level when RSI was at oversold region. Within next two months, the Nifty gave ~15% return. Again during 24th Jan'24 (Q3 results midway) there is a dip and then Nifty quickly recovered. Again during 19/04/24 (Q4/annual results midway), there is a dip and then again smart recovery. The things become even more interesting if we check the RSI beyond this point (last 6 months). Here are the obervations: 19th April'24, 9th May'24, 4th June'24, 5th Aug'24 - the RSI was at 40 level. Price were more or less around same/similar level. (Except Aug when Nifty was at 24000). Now the Nifty RSI was at 36. But the price is at 24800. It's indices Hidden Bullish Divergence My Expectation: There can be a little more dip (lets say another 150-250 points, at max 24550). Then Nifty starts recovering smartly and will try to reclaim the 25500 Resistance level. We shall see what will happen next. So essentially end of this week onwards expecting a 800/1000 points recovery, IMO. Seems too optimistic? May be .. lets see. Just sharing my personal views. End the day: Market is Supreme and Price Action is the King.
NSE:NIFTYLong
by pradipandsuvra
INTERGLOBE AVIATION (INDIGO)Technical: • After reaching a fresh high of near 5,000, the stock has reversed from that level, indicating a potential change in character, a term often used in technical analysis to denote a shift in trend or momentum. • The RSI (Relative Strength Index) has dropped below 50, signaling a potential weakness in momentum and a bearish outlook in the near term. • Support Levels: • Minor support is at 4,500, a level that may provide temporary relief. • Major support lies at 4,200, a critical level to watch if the weakness continues. Fundamental: • The escalating conflict between Israel-Iran has driven up crude oil prices due to concerns about supply disruptions. • As a major airline, IndiGo is sensitive to rising fuel costs, which directly impacts its operational expenses. The increase in crude oil prices might weigh heavily on the stock in the near term, adding to the existing technical weakness. • Given the geopolitical situation and its impact on crude prices, IndiGo could face additional selling pressure if oil prices remain elevated, further amplifying its decline. In summary, IndiGo is showing signs of technical weakness with bearish momentum indicators, coupled with fundamental risks tied to rising crude oil prices, which could lead to more downside pressure in the coming days. Keep an eye on the 4,200 level for strong support. View neglected if price breaks above 5,000 zone. #Indigo #stocks #investing #crudeoil #usoil #war #aviation
NSE:INDIGOShort
by karan_bagri
SAMKRG Pistons & Rings - Monthly - Long Term Channel - BullishSAMKRG Pistons & Rings Ltd. (BSE: 520075) has been trading within a well-defined ascending channel, showcasing a consistent long-term uptrend. The chart highlights key support levels at the bottom of the channel, from where the price has always bounced. The recent price action and technical indicators suggest a potential for further gains. Key Points: 1. Ascending Channel: The stock has been moving within a clear ascending channel since 2006. The price recently rebounded from the lower boundary of the channel, indicating strong support and a continuation of the upward trend. 2. Key Support Levels: The chart shows multiple instances where the stock has found strong support at the bottom of the channel. Each bounce from this support level has led to significant upward movements, affirming the reliability of this trend. 3. Relative Strength Index (RSI): The RSI has made higher lows and higher highs in the preceding months and looks to be on an upward trajectory. Disclosure: Invested at ₹179 Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
BSE:SAMKRGLong
by gurinder1988
Laxmi Organic - Bullish Divergence and Breakout from TriangleWeekly Chart Insights: Symmetrical Triangle Pattern: Over the past years, Laxmi Organic Industries Ltd has formed a symmetrical triangle. Breakout Confirmation: Recently, the price broke above the upper trendline of the triangle. Retest of Breakout: The price action is retested the breakout at the Trendline and has moved upwards now. Bullish Divergence: Time Period - 26 March to 12th May Lower Low in Price - Price went from 235.2 to 228.5 Higher Low in RSI - RSI went from 37.2 to 37.6 Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
NSE:LXCHEMLong
by gurinder1988
Libas - Potential Bullish Divergence in Descending TriangleLibas Designs Ltd. is currently trading within a descending triangle pattern. A potential bullish divergence between the price action and the RSI could indicate an upcoming trend reversal. Technical Analysis: Descending Triangle Pattern: The stock has been consolidating within a descending triangle pattern, characterized by lower highs and a strong support level around ₹16.5. Lower Low in Price: The price recently made a lower low, near the support level of the triangle. Higher Low in RSI: Simultaneously, the RSI (14) made a higher low, creating a bullish divergence. This suggests that the selling pressure is weakening, despite the price making a new low. Volume Analysis: Volume has been decreasing during the formation of the triangle, which is typical for this pattern and indicates a potential buildup before a breakout. Trade Setup: Entry Point: I would wait for a breakout and retest above the top trendline. Probably somewhere above the 17.5 mark. Stop Loss: A stop loss below ₹16.00, just under the recent support level, to manage risk effectively. Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:LIBASLong
by gurinder1988
Tanla - Monthly Chart - Ascending Channel - LongTanla Platforms Ltd. has been trading within a well-defined ascending channel for almost 10 years now. The support at the bottom of the channel and the resistance at the top of the channel have been tested many times over the years, as the chart shows. The Price has again bounced after touching the bottom of the channel last month and RSI has a strong upward trajectory. Key Points: Ascending Channel: The stock has maintained an ascending channel for almost a decade, with the price consistently respecting the channel's boundaries. Support at Bottom: The lower boundary of the channel has been tested multiple times and has held strong, indicating robust support. Resistance at Top: The upper boundary of the channel has also been tested multiple times, acting as a reliable resistance level. Recent Bounce: The price recently hit the bottom of the channel last month and bounced off, suggesting a possible continuation towards the upper boundary. Volume Analysis: The volume has shown significant spikes during periods of upward movement, reflecting strong buying interest. RSI: The RSI (14) is currently at 52.98 and trending upwards, indicating growing bullish momentum. The RSI's upward trend further supports a bullish outlook. Disclosure: Invested at 920.00 Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:TANLALong
by gurinder1988
PLASTIBLENDS - Monthly - Ascending Channel - Bullish - LongPlastiblends India Ltd. has shown a strong uptrend within a well-defined ascending channel since 2013. The recent price action suggests a continuation of this trend, presenting a compelling opportunity. Technical Analysis: Ascending Channel: The stock has been trading within an ascending channel for over a decade, demonstrating a consistent pattern of higher highs and higher lows. Support and Resistance: The stock recently bounced off the lower boundary of the channel, a strong support level. The upper boundary of the channel acts as the resistance. Volume Analysis: The volume has shown spikes during uptrends, indicating strong buying interest. RSI Indicator: The RSI (14) is currently at 62.46 and trending upwards, suggesting increasing bullish momentum. The RSI has bounced off from the mid-50 level, a common support in uptrending stocks. Plastiblends India Ltd. is in a robust uptrend within an ascending channel. With strong technical indicators and bullish momentum, this stock presents a favorable risk-reward ratio in my opinion. What are your thoughts? Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
NSE:PLASTIBLENLong
by gurinder1988
Gujarat Containers - Week - Breakout from Symmetrical Triangle?Analyzed the weekly chart of Gujarat Containers Ltd. (BSE: 523108), which is showing a promising breakout from a symmetrical triangle pattern. As you can see, the price has broken out of the Trendline recently and has performed a retest as well. Bullish Divergence on Daily: Recently a Divergence was also observed on the Daily Chart where the Price made a Lower Low while the RSI made a Higher Low. The RSI has been on an upward trajectory since. This setup looks quite promising for a continued upward move. What do you guys think? Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
BSE:GUJCONTLong
by gurinder1988
Infosys Ltd Analysis!NSE:INFY Analysis on a Daily Timeframe! Double Bottom Pattern formation in Infosys Ltd! Double Bottom Pattern/ W Pattern Formation with RSI Divergence! Analysis: As we can see in the chart NSE:INFY started falling down from Feb 2024. It was in clear downtrend. After that it has made a double bottom pattern but it's second bottom is lower than its first bottom, so I have added RSI indicator to get a confirmation about Divergence. We can see a clear divergence while price falling down RSI moving upwards so we can expect the price will move upwards in the upcoming trading sessions. I have marked all the important levels on the chart please have a look. Trade Psychology and Setup: Entry = Current price level is good to Enter Target = 1607.65 Stop Loss = 1460.50 Disclaimer = Consider my analysis for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:INFYLong
by Avinash9087
5
Everest Organics - Monthly - Ascending Channel - Bullish - LongEVEREST ORGANICS LTD. is exhibiting strong bullish signals on the monthly chart. Here is a detailed analysis of the key technical indicators and potential future movements: Ascending Channel: The stock has been trading within a well-defined ascending channel since early 2016. Support: The lower channel line has provided consistent support, marked by multiple bounces. Resistance: The upper channel line acts as resistance, tested multiple times. Recent Price Action: The stock recently bounced off the lower channel support around 120 INR and is showing signs of upward movement. This bounce indicates a potential continuation towards the mid-channel and upper-channel resistance levels. RSI Analysis: The Relative Strength Index (RSI) is currently at 57.59, indicating bullish momentum. The RSI has been trending upwards, suggesting increasing buying pressure and potential for further gains. Disclosure: Invested at 149 Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions. Please leave a Comment with your thoughts and analysis Boost the idea if you found it useful Follow me for more analyses!
BSE:EVERESTOLong
by gurinder1988
CAMS standing on a strong demand zoneCAMS has been in a downtrend from end of 2021. We can see on the chart that the stock is consolidating near a strong support of 2000 level. RSI is forming higher lows which indicate strength of buyers at this level. It looks attractive at CMP for a positional long trade for minimum target of 2300.However, a weekly closing below 2000 levels will have a sharp fall upto 1750 levels which is a major risk. Kindly consider this idea for educational purposes and trade as per your own analysis.
NSE:CAMSLong
by chartistamey