Can we again see a rejection from here..?As we can see BANKNIFTY has been weak in the first half after opening at supply zone but it did recovered strongly in the closing hours. Now that it had again closed around SUPPLY ZONE, we can again expect some weakness in first half in opens flat to weak within that supply zone in the first half so plan your trades accordingly everyone
Multiple Time Frame Analysis
BANKNIFTY heading towards important SUPPY ZONE!!As we can see after an unidirectional move from our demand zone, BANKNIFTY can be seen heading towards important supply zone mentioned in the chart around 43700-43900 levels which previously acted as strong demand zone hence since it’s the first time this levels are getting tested, we can expect a rejection from these levels so plan your trades accordingly
Looks like NIFTY is finally ready another directional move.As we can see NIFTY had been sideways throughout the day as analysed in our previous analysis but now watching the global views we can expect NIFTY to open strong and any opening above 19200 could show a potential strong unidirectional upmove but if fails then another volatile to negative day can be witnessed so plan your trades accordingly l.
XAUUSD Short Term IdeaShort Position with SL and 3 TPs.
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XAUUSD Trade Idea [Daily Swing]Fundamental bias for Gold is bullish due to the Israel-Hamas Conflict. PA matches the bias. Price retraces to the daily AOI, we wait on 4H/1H to confirm the entry. Expect a rejection of the area, followed by a pullback. We can catch an entry when the price goes bullish again after the pullback
NIFTY to remain sideways till either of the zone is brokenAs we can see NIFTY showed unidirectional fall after getting rejected from the neckline of the head and shoulders pattern. Now we can say that NIFTY is yet to remain sideways to negative in common trading sessions despite its short term up move as space is left for NIFTY to fill hence till either if the zone is broken and sustained, we can expect NIFTY to remain sideways in coming trading sessions so plan your trades accordingly.
Exact REVERSAL from our zoneAs we can see despite strong opening of NIFTY, it failed to sustain itself above the zone and fell unidirectionally as it was the neckline of the head and shoulders pattern which we analysed in our previous post. We also expected it to break if tested but it fell without taking any time, hence in coming trading sessions if NIFTY regains 19200 levels and consolidates around that levels, we may expect a strong up move in coming trading sessions so plan your trades accordingly.
More of unidirectional move expected in NIFTYAs we can see NIFTY has recovered almost 200++ points from our demand zone as analysed. Now we can expect NIFTY to recover more of 100 points till its next prominent RESISTANCE lying around 19200 which is set to be broken after a trap as it can be seen as a very obvious RESISTANCE so plan your trades accordingly.
Exact REVERSAL from our given level... where is it heading next?As we can see NIFTY has REVERSED exactly from our given levels of 18870, now that NIFTY has shown more than a percent move in a single day, we can expect NIFTY to continue the further RECOVERY till 19200 which acted as a NECKLINE for HEAD and SHOULDERS pattern and fill the gap. On the other hand, we can expect NIFTY to further fall keeping note of weakening of GLOBAL INDICIES and ONGOING tensions affecting INDIAN INDEX and we can see NIFTY further reaching 18600 levels so plan your trades accordingly.
NIFTY heading towards final SUPPORT now..?As we can see NIFTY has continued showing bearishness since last 5 days now without taking SUPPORT at demand zones we mentioned but we can expect next few upcoming couple to trading day as last fall till 18600 levels from where the bull run actually started which can potentially act as a SUPPORT so plan your trades accordingly everyone
NIFTY broke its important SUPPORT! More fall incoming..?As we can see NIFTY has finally broken down its important SUPPORT of 19200 levels and as analysed, it fell unidirectionally as of now. Now that NIFTY has finally broken down its important SUPPORT we cannot see any eminent SUPPORT till 18870 but we have always seen that market always does opposite of what its shows so plan your trades accordingly.
NIFTY broke its SUPPORT exactly as analysed As we can see NIFTY broke its SUPPORT and fell unidirectionally as analysed in our previous analysis that the SUPPORT has been tested multiple times and any closing below the psychological level could lead to a good fall and we did see that exactly. Now watching the global cues we can expect NIFTY to open flat to positive but we can see NIFTY ranging from the range 19200-19500 but if it breaches either of the level we might see another of trending market so plan your trades accordingly.
Nifty daily analysis for 25/10/23.Nifty has given a nice fall on the daily charts and took support from the major support range of 19230-250.
There is a nice bearish candle on the daily chart and market is trading below the 20 ema. Chances are of market testing the 200 ema.
On the hourly charts, there was a consolidation in the first half of the market and in the second half the market fell of more than 130 points.
Now there is a bearish trend for a short term. If the market continue to fall and starts trading below the 19200 levels then it will test 19000 and 18850.
Support :- 19230, 19000
Resistance :- 19420, 19500
The market can go trending as it is approaching the monthly expiry.
Wait for the price action near the levels before entering the market.
NIFTY BANK - SPOT - DAILY TIMEFRAME TECHNICAL ANALYSISNifty Bank - In Bearish Price Trend -
A "bearish price trend" refers to a market condition where the prices of financial assets, such as stocks, commodities, or currencies, are generally moving downward over a sustained period. It indicates a prevailing negative sentiment among investors or traders.
MCX SILVER FUTURE WEEKLY TECHNICAL ANALYSISTechnical Analysis on Silver : -
As discussed in the last week, silver is in bullish channel. A Bullish Channel is a technical chart pattern that represents an upward price trend with clear boundaries or channel lines.
As clear shown in the attached chart price is moving in upward direction with clear channel lines.
Follow the attached charts for more analysis.
GOLD MCX FUTURES WEEKLY CHART ANALYSISWeekly Technical Analysis of Gold MCX Futures : -
As discuss in the previous week's Technical analysis,
Gold is following a strong bullish price action, with good volume followed by breakout on daily chart.
In last week our first 2 positional targets achieved. We are still into a bullish territory over the charts for gold.