Despite recently bouncing off a monthly low, AUDUSD remains pressured around 20-DMA during early Wednesday. The risk-barometer pair dropped the most in a week while flashing a bearish candlestick on the daily chart. The anticipated declines also gain support from the absence of the oversold RSI conditions. However, July’s low of 0.7288 acts as a trigger for the...
DJI's significant "Strong Weekly Closing" confirmed breakdown. Besides this, extreme volatility spurt in VIX too signaling the weakness. Although i am a learner. But this is somewhat remarkable. So sharing this view!
Stock gave a breakout a few weeks back and has been consolidating over the marubozu (breakout candle) from a decent time, has given a good weekly closing and the candle looks good, it has possibly bottomed out. Can go long with a stop-loss of 287 for the short term targets of 340 and 380.
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Price has given a strong breakout from the triangle pattern with a strong marubozu candle and with huge volume, from near the support area. Price has even broken 50 ema. MACD and stochastic RSI too are giving buy signals.
Nifty - Technical Analysis:
Nifty opened with a gap down and ended the day just above its low, forming a near perfect marubozu, which is an extremely bearish signal.
On the bright side, Nifty managed to hold its 10900 lower trend line support.
The index formed a near perfect wedge on 15m charts.
Market - Driving Factors:
PSU bank and Metal indices...
IOC made a bullish marubozu crossing 100 DEMA & its long term resistance at 93.6 only to come back and close just below.
Buy above 93.6 / 94.7 (based on your risk appetite) for targets of 96, 97.5, 100 with SL at 90.65