Nasdaq longNasdaq can have a similar upmove as nifty today.
Note this analysis is for really really short term; long term trend is still bearish.
Nasdaq
cup and handle ( Todays fed may be the trigger)
-can see cup and handle formation on charts one way target if breaks would be 5%
-feds stance will act as a trigger (break out or breakdown)
-2nd opinion even if trendline is breaken the minimum target would be 5% acc to some books on tech analysis.
NASDAQNasdaq
Keep a good watch on
Whether Long term channel will keep it down
or it would continue in uptrend channel.
Still struggling in up channel, let's see
Which turn it would take.
It's an analysis, not a trading advice, trade with due diligence.
NASDAQ Bullish channel 5th wave down. Stay away Bears!Nasdaq coming down in a horizontal channel. This can give a ruthless upmove if you're short!
us composite indexIndex in a downward regression channel
immediate support at 10900 while upward journey could go towards 13114
U.S Dollar currency Index U.S Dollar currency Index tested our target level 111. I was predicted this on 13 may 2022 post.
It is working in parallels channel and currently trading at upper line resistance. it may correct soon.
Negative Divergence also seen on daily and weekly chart.
NASDAQ spot cmp 11179Index have historical resistance around 1186-11230 range , where index have made top and reversed , so if same resistance levels is respected , index will give sharp fall of 600-800 points fall from resistance zone.
view gets negated above 11250 on daily closing basis
keep watch index is at resistance juncture..
Nasdaq is in bounce mode.Nasdaq index is in bounce mode taking support 02nd time near 10290. It may test 10850 and 11111 soon.
Bullish Divergence seen on chart. Indian It stock also can bounce
Dow jones Can resume his down trend ?Dow jones:- As per chart it is trading in down trend. Now reach to upper most potential resistance Zone 32400-32800. yesterday a inverted hammer candle come which is sign of rejection or reversal.
It may be correct quickly 1000-1500 in 2-3 days and also more pain come on chart soon. Nifty and B-nifty also feel pressure from global cues.
#DOW analysistoday FED meet and rate hike is anticipated so next move above 33K will push long to US DOW otherwise a dip may be seen...so watch today night commentary.
META MULTI YEAR TRENDLINE SUPPORT? OR NEW LOW?This can be good long term bet atleast with minimal Stop Loss.
THE FED HAWKISH PLAN STILL IN CONTROL!!!With the ease and positive economic data last week, market sentiment still believe the FED hawkish plan still holding.
technically, this may hold for sometime and may be as well a strong base for a long term bull market. however, we still need to see consistent monthly bull runs. At least two months or so for a long term bull trend.
The central bank is expected to raise rates by 75 basis points for the fourth-straight time before "pivoting" to a slower pace of rate hikes, which the market has begun pricing in. failure to this the DXY will continue falling, that suggest a long term buy for the US indices. its a wait and see for now.
MY VIEW, BUY US100 AS SHOW IN CHART.
SHORT TERM BULL TRADE THIS WEEK AND MAYBE NEXT WEEK AS WE AWAIT A CONFIRMATION FOR THE LONG TERM SETUP.
cheers😎. thank me later
NIFTY : 27 OCT#NIFTY50
NIFTY FUTURE : 17900 (+200pts)
Nifty Day : Range between 17800 to 17500 for past few days. With OI of call - 76L at 17800 and Put - 59L at 17500, indicates rangebound
movement.
Global : #NASDAQ ,#DOWJI - in mild bearish state.
Todays condition : If nifty opens above 17900 and sustain throughout the day, it will cross 18000 in this expiry. Expecting short covering.!!!
NASDAQ Bullish divergence clear as day!! Bulls r back for13600 !Thats a nice divergence at 1.13, if it holds this level the movement upward would be quick, sharp and hellish for bears.. WATCHOUT
Nasdaq Short - Possibility 10600 Nasdaq on day chart has formed Head and shoulder pattern and may fall very fast in case of bad news..... the Stop loss will be 9/20 High in case of trend reversal. Hope this doesnt happen.
On weekly there is inverted cup and handle pattern forming.
I wish it doesnt fall so much.
Correlation between Nasdaq and Indian IT stocksThere is an interdependency between them but not to the extent, that people considered it to be.
Indian IT stocks have shown much resilience and hold their position better despite the sharp fall in the US market.
There are a few challenges to this sector
1. Attrition
2. Usd/INR
3. Fear of recession
In case of recession, it will be beneficial for western countries, they will outsource the workforce, which could ease the pressure on their margins.
Looking at the price structure and valuation of IT stocks,
It seems to receive support at 8-10% below the current value.
NASDAQ prediction based on SZ/DZ and SR/RS methodNASDAQ:NDX may try to create #wpattern or double bottom on daily / hourly time frames at important support zone of daily time frame, if it breaks below the support level, we can achieve the expected downside targets soon.
NASDAQ prediction based on SZ/DZ and SR/RS methodNASDAQ:NDX is following the zones and resistance level I had marked in my previous post, expecting 5% more drop .
Alibaba Group Holdings Ltd Hi Everyone
This is an forecast of Alibaba group Holdings we have completed wave 1 called M1 ( medium term forecast). Time frame for Medium term forecast is usually 2 to 4 weeks.
We are currently in wave M2 which is still progressing but almost in last stage. So price should move downward unless it brakes invalidation Level.
use our tradingview live links for the update in counts.
Thank You
NASDAQ prediction based on SZ/DZ and SR/RS methodNASDAQ:NDX prediction with supply demand zone and support resistence areas for upcoming weeks.
4th wave ?Markings are on chart. Based on Fibonacci. I think 4th is going on. Consolidation is the characteristic of 4th wave. Correction can be 38.2-50% of 3rd wave. In worst case scenario, it can be 61.8% . It should not touch high of 1st in any case.
Nifty IT near 50% Fibonacci RetracementThe weekly chart of Nifty IT shows that it has come near the 50% retracement level.
At the same time it shows a positive RSI divergence. This gives rise to chances of a short term upside.
Though confirmation is required as per price action.
Dow Jones broke Cup and Handle Neckline Dow jones can see a correction of 30 according to me from here
