Nasdaq
WILL NASDAQ fall lead to Indian index correction ? NASDAQ after re-testing its ATH countered a profit booking in the last week, Indian markets also remained volatile looking for directions from global markets
Now that NASDAQ has broken its trend line, support zone and expected to fall at least for a couple of days, How would Indian markets react
the movement of NASDAQ happens outside of Indian trading hours, so any downside in NASDAQ is usually factored as GAP DOWNS or GAP UPS.
GAP DOWN expected, and one more GAP DOWN Tomorrow can't be ruled out looking at price action of NASDAQ
This is curtailed week for Indian trading, so expect volatility and premiums would be vaporised like anything if you are an option buyer and caught on the wrong side.
selling NIFTY OTM CE would be a safer option
Trade Safe
NASDAQ Extends againAfter a 3 wave correction the nasdaq composite managed to move up in what even I thought maybe 3 corrective. But maybe it is a leading diagonal and that changes everything. We have extensions long term and a new impulse wave up in wave 3 of 3 started for the Nasdaq. Then it changes the entire perspective for stocks. Bullish gaps as of now typical with 3rd waves
TESLA ON HOURLY CHARTTesla has been trading below 200 MA for good period of time & has formed Bearish Pennant price action pattern which indicates a Bearish continuation trend signal. Using Fibonacci we also plotted that, Tesla is not able to break its 50% retracement level which infact is exactly at the price level where 200MA is standing. It’s a double & strong reversal sign. Also if we look at the resistance level we can observe that every time stocks comes near resistance price there was a good reversal with good volumes.(Red Volumes bars more).
Reason for shorting setup because-
1)Sustaining below 200MA indicating major downtrend.
2)Fibonacci levels retracements.
3)Selling pressure up, red candle in volume increasing near resistance area.
4)Bearish Pennant pattern.
Trade safe.
NIFTY - NEXT MOVESIts been quite a volatile last few days - too may GAP UP / GAP DOWN , decisive bars but still no clarity on direction. Let us look at global markets to understand this in a better way
Dollar Index on important levels - can breakout or breakdown - chances of breakout quite high
US treasure bonds rising again - Though personally, I feel last time it was an over-reaction of the global market due to rise in bond yields but yet, the fact remains global markets are reacting promptly on rise of bond yields
US DOW futures are facing a good amount of downside pressure.
NASDAQ composite also showing weakness
what do we make out of this - my take is - global markets have started retracing from higher levels, definitely some weakness but early to say its a reversal from the top for a short term. we may see some downward pressure on NIFTY in the coming days, so maybe it will fall or consolidate for a while
watch out for the levels mentioned in chart and that GAP zone. Nifty behaving around those levels will give a decent idea
Happy Trading
MSK
Live Challenging Market Analysis Buy TESLA @ 511.12Market Analysis
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Nasdaq 100 E Mini Futures Resistance 13600 Nasdaq 100 E Mini Futures
Resistance is at 13600.
Further rise is above 13600.
If sustains above 13600 then expect a rise towards
15346 in due course of time.
Indicator like RSI showing negative divergence
therefore breakout and close above 13600 is
essential for further near term rise, based on hourly
chart.
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December 21 NASDAQ US100 Chart Analysis
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In real time, you can check major sections and move,
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I will begin NASDAQ ZeroMarket US100 Chart Analysis for December 21th .
This is a 30-minute chart long position strategy.
Pay attention to the triangle convergence section of the red support line / green resistance line.
*Arrow movement path
Short -> Long -> Short Strategy
*Blue finger
Long position strategy.
I have marked each major section.
Arrow movement path,
Pay attention to the whip saw.
This is a condition that does not break away from the maximum and green support lines.
Thank you.
Cup & Handle Formation in Dow Jones HourlyThe US index Dow Jones has formed a Cup & Handle pattern on hourly charts.
Breakout is awaited.
A valid upside breakout will lead to further upside but previous swing high may act as a supply zone.