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Multiple Time Frame Analysis

NIFTY’s hidden resistance! At make or break level..!!As we can see NIFTY has shown a strong uptrend after taking support at the previous acting resistance levels now it is seen heading towards its next hidden resistance which can be seen around 18400-18450 levels and nifty did close below the given levels hence the first half of nifty would be really important as if NIFTY opens strong but fails to sustain above given level then we might see a strong rejection else we might see NIFTY to continue the rally if manages to hold itself above 18450 level so keep watching everyone
NSE:NIFTY
by Wealthcam
Nifty - Prediction & Intraday Levels for - 12 May 2023Nifty Prediction Tomorrow: BEARISH view with Negative Sentiment Nifty is falling under high selling pressure, as per Global cues most likely to Open Gap down / Flat. There is Strong resistance zone at 18319 level is where we can anticipate our SELL entry or PDL is where we can take SELL Entry for Lower side Targets. BULLISH only if sustains above 18350, BUY only above this level until is SELL on raise. Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:NIFTYShort
by ViVenTraders
INSIDE candle witnssed..something big coming up..?As we can see BANKNIFTY had been bullish to sideways throughout the day as discussed in the past analysis ! Now we can see the candle formed today is in more like inside candle type formation hence we might see a big trending day coming up if either of levels is broken hence if BANKNIFTY breaks 43600 mark and sustains above given level then we can see a new ATH in BANK! till then BANKNIFTY might remain sideways to negative in coming trading sessions
NSE:BANKNIFTY
by Wealthcam
Exact rejection seen in BANKNIFTY! Where is it heading next.?As we can see we had been analysing past few weeks that despite the bull run we are expecting some weakness and rejection in BANKNIFTY and expected a rejection around 43600 levels and we did see exact rejection from that very level and fell more than 1000++ points in just 2 days hence we can expect more of downfall till 4200 which is a psychological level for BANKNIFTY but if BANKNIFTY opens strong then we can see some recovery which could be in the sideways form before continuing its rally so keep watching everyone
NSE:BANKNIFTY
by Wealthcam
IS DOLLAR (DXY) ABOUT TO CRASH?? | WEEKLY DOLLAR UPDATE DXY or the Dollar Index, the index to measure the strength of Dollar is considered to be the king of all charts, as most of the financial instruments are very much correlated to the DXY. Not just forex markets but stocks, cryptos and even commodities are correlated to the Dollar. If DXY Falls-> Cryptos, Stocks, Commodities, Precious Metals and some Forex pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD rises. However, pairs like USD/CHF, USD/JPY and USD/CAD falls. Similarly, If DXY Rises-> Cryptos, Stocks, Commodities and some Forex pairs like EUR/USD, GBP/USD, AUD/USD, NZD/USD falls. However, pairs like USD/CHF, USD/JPY and USD/CAD rises. So it becomes very important for any trader either Technical, Or Fundamental to keep a close eye on the DXY. If DXY is in uptrend, the above mentioned instruments may be in downtrend. Conversely, if DXY is in downtrend, others may be in uptrend. This is a general observation and not an exact rule to be followed. Exceptions are always there as Financial Markets are impacted by a number of factors. I will be posting a detailed post about why DXY is so important for any trader, so keep following. BELOW IS THE ANALYSIS WEEKLY ANALYSIS Weekly support range= 101.6-100.8 On WEEKLY TIMEFRAME ,price is sitting at support area. Untill and unless the support is not broken, there are chances that price might reverse and bounce from support. However, if weekly price closes below the support, that can lead to a further long term downtrend in Dollar. Also, price action is forming a HEAD AND SHOULDER PATTERN, which is typically a bearish reversal pattern. Once, weekly candle closes below the support range, the pattern is completed and activated. That may signify a long term downtrend in Dollar which means long term uptrend in STOCKS, CRYPTOS , PRECIOUS METALS, and some FOREXpairs. However, further confirmations are also required and just one weekly candle closing below the support is not enough. DAILY ANALYSIS The price is making continuous LOWER HIGHS to the support signifying that any bounce from the support is not strong enough and is hence rejected by sellers. Lower highs into the support area is considered to be Bearish and increases the probability of breakdown of support. However, since the price is sitting at the confluence of Daily plus Weekly support, a daily close would not be sufficient and a weekly close is required. On the flip side, we cannot ignore that price is at Support and may bounce from here as well. If price bounces and make a HIGHER HIGH, then chances of breakdown of support will get drastically low and infact a new uptrend may begin in DXY or the Dollar index (but after some further confirmations) CONCLUSION 1. If Daily plus weekly candle closes below 100.8- BEARISH 2. If Daily candle closes above 102.5, that would mark a Higher High and an uptrend may begin- BULLISH 3. As long as price is trading between 100.8-102.5- SIDEWAYS/NEUTRAL Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE
TVC:DXY
by rohitkukreja