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Multiple Time Frame Analysis

BREAKOUT DONE!! Exactly as analysed! What an amazing rally seen as analysed in previous post with over 600++ points unidirectional move after the break of 44900 levels. Now we can see BANKNIFTY trading around its all time high which could now potentially act as a supply zone hence if BANKNIFTY opens flat then we might see BANKNIFTY getting rejected at mentioned levels of 45550-45650 and this range could potential act as as great supply zone hence we can see BANKNIFTY remaining sideways for coming trading sessions before finally showing its direction
NSE:BANKNIFTY
by Wealthcam
Symphony Stock - Alternative Bat Formation and Weekly TrendlineIn this trading analysis, we will explore the potential trading opportunities presented by Symphony stock (SYMPHONY) based on the formation of an alternative bat pattern on the daily timeframe and the presence of a trendline support on the weekly chart. We will discuss the key technical aspects, entry levels, target prices, and stop loss levels to assist traders in making informed decisions. Alternative Bat Formation on Daily Basis: Upon examining the daily chart of Symphony stock, we observe the formation of an alternative bat pattern. An alternative bat pattern is a harmonic price pattern that signifies a potential reversal in the prevailing trend. However, it is important to note that the pattern has not been activated yet. To activate the pattern, Symphony stock needs to cross the price level of 870. This breakout could potentially lead to bullish momentum. Traders considering this pattern may want to set their entry level above 870, accompanied by a stop loss at 821. Potential Targets: Should Symphony stock break above the activation level of 870, two potential target levels can be considered. The first target is set at 907, and the second target is set at 940. These levels represent potential areas of resistance or profit-taking zones for traders. Weekly Trendline Support and RSI: On the weekly timeframe, Symphony stock is observed to be testing a trendline support. This suggests that the stock has been finding consistent buying interest around the 830-840 zones. Furthermore, the Relative Strength Index (RSI) is also indicating a good trendline support, adding to the overall bullish sentiment. Considering the weekly trendline support and the RSI's behavior, traders may opt to take a long position in Symphony stock with a stop loss of 790 on a weekly basis. Setting the target open allows traders to capture potential upside without predetermined price constraints. Conclusion: The analysis of Symphony stock reveals the presence of an alternative bat pattern formation on the daily chart, awaiting activation above 870. Additionally, the stock exhibits strong trendline support on the weekly timeframe, as confirmed by the RSI. Traders interested in this stock can consider potential entry levels, targets, and stop losses based on the outlined technical analysis. It is important to remember that trading involves inherent risks, and it is advisable to perform thorough analysis, consider risk management strategies, and consult with financial professionals before making any investment decisions.
NSE:SYMPHONYLong
by yaashul
2
BTC Dominance 🔴 BTC Dominance Seems like btc dominance will now decrease,which is good for Alt coins BTC must be stable and dominance should be decreasing for good growth of Alt coins. Soon we will trade like a boss, I will be away from market unless i get good conditional market setup for me. Just watching 👀 If you like my educational content,Hit like & comment for motivation so i can get motivated for better trade opportunities and share it and we can earn together. Let's understand the dominance down below. If Dominance decrease 🔴= btc 🚀= Alts 🚀 moon If Dominance decrease 🔴=btc🔴= alts🔴🔴🔴 bleed If Dominance decrease 🔴=btc stable= alts one by one🚀 Share your thoughts if any mistake or your opinions.
CRYPTOCAP:BTC.DShort
by Akshay_Gour
NIFTY showing signs of weakness now..?As we can see after a strong rejection in previous trading session but today we saw nifty being sideways throughout the day and hence formed more like an inside candle making it look more like a head and shoulders pattern in smaller time frame showing weakness but the weakness will only be confirmed if the neckline of the supposed pattern is broken down and sustained below and hence 19300 which could be seen as the neckline of the supposed pattern hence wait for confirmation before making any position
NSE:NIFTY
by Wealthcam