Idea purely on technical basis + NewsThis idea is purely basis current price action + volume and news. No other factors considered.
NSE:DHANI has shown promising signs of a potential turnaround, indicating a shift in sentiment following a period of indecision or stabilization.
The Diamond Bottom pattern emerges amidst a downtrend, characterized by the formation of higher highs and lower lows within a widening pattern.
Over time, this pattern evolves as the highs reach a peak and the lows begin to ascend, leading to a gradual narrowing of the trading range.
Upon the breakout above the boundaries of the diamond pattern, there's a notable indication of a substantial reversal, marking the onset of a fresh uptrend.
Other things to consider at current situation
- Volume is increasing
- Trading above 10 EMA, 50 EMA and 100 EMA
News
Dated: March 18, 2024
- Submitted the building plans to the Directorate of Town and Country Planning (DTCP) for approvals of 60 lac sq ft of residential development saleable area in Sector 104, Gurugram located on 8 lane Dwarka Express way. The Project is proposed to be launched in July’
- Submitted the building plans for development of saleable area of 2.6 lac sq ft of office space in Worli, Mumbai. The Project is expected to be launched in August’ 2024.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
NEWS
Panacea Biotech-A high risk, huge reward stock!Panacea biotech is in news for developing Dengue vaccine.
Technically, stock has bounced from support trendline and is looking strong to test ATH levels once again which can be around 2x from CMP.
Keep in watchlist. A very risky volatile stock and is not a recommendation.
XAUUSD DOWNTRENDIntro Gold
Gold price continues to draw support from bets for a 50 bps Fed rate cut in September.
Falling US bond yields and softer USD also act as a tailwind for the non-yielding metal.
Bulls, however, seem reluctant and await the release of the US NFP report on Friday.
Price Tag
Sell at 2526 - 2530 SL at 2533
TP at 2440
Silver (XAGUSD) and Gold- Important UpdateIt is important not to just focus on the analysis, but also combine it with important news.
It is expected for Silver as well as Gold to rise. But all depends on the Fed-Cut-rate data.
Lest wait, be optimistic and enter at the right point.
I have a long position open, but i won't recommend you take a position for now.
Wait and watch.
Do you own analysis before taking a trade.
BEST OF LUCK !!! :)
HERANBAMarket Cap
₹ 1,594 Cr.
Current Price
₹ 398
High / Low
₹ 426 / 278
Stock P/E
46.2
Book Value
₹ 211
Dividend Yield
0.31 %
ROCE
6.72 %
ROE
4.17 %
Face Value
₹ 10.0
Debt to equity
0.20
Debt
₹ 165 Cr.
OPM
6.12 %
Promoter holding
74.9 %
Sales growth
-4.68 %
Profit growth
-66.8 %
CMP / FCF
Industry PE
39.2
Pledged percentage
0.00 %
Reserves
₹ 803 Cr
Kotak Mahindra Bank HammeredNSE:KOTAKBANK shares have tumbled after RBI banned the private lender from taking on new clients digitally, due to IT-related deficiencies, raising concerns about the potential impact on the lender that relies heavily on online banking.
The current levels may act as a support but this firm stance by RBI is in line with the recent past actions on various other companies as well. This sector has the maximum headwinds currently and one should be careful of investing in these companies specially when opportunities elsewhere exist.
However, long term investors can start to accumulate this share if they want to have Kotak Mahindra Bank in their portfolio.
Bank Nifty for the coming week.....Hello Friends!!
I hope all of you are doing well!!!!
If Bank Nifty comes in green and the matter is sought out between Iran and Israel... then the drawn line shall be the resistance for the Bank Nifty or it will be easily breakable .....
Pl. provide your views.....
Keep Learning with NG!!
BIG Bounce Or Fall? Banknifty Simple Analysis for tomorrowRecap:
As mentioned yesterday's analysis Bank nifty started with fake break out after firing 2 strong bullish candle on 15min & then a sudden dip trapped many players. But still strong support 46900 helped saved bulls to reach again for a breakout but failed & BN closed at support 46900.
Analysis for Next Day:
Bears have started dominating as seen today bulls failed to break 47200-47300 level twice also confirms bears presence more then bulls. Again mentioning bullish presence is strong above 47300.
Trend line support has also been broken in last 30 min session today & closed at support. if BN open below 46900 this can be bearshish move. Keep eyes on opening print.
Bulls can bounce from daily resistance if gap up opening is seen & for momentum they need to cross 47300.
Looks like may be it will a sideways day tomorrow.
Support : 46900,46700
Resistance : 47100,47300
Note : Do your own analysis before making any trade decesions.
Gold Price Looks for UPTREND
* Gold Price Movement: Gold prices are uncertain and fluctuating.
* Upcoming Data Release: The market is waiting for the US core PCE price index data for November.
* Fed Bostic's View: Atlanta Fed President Bostic sees no urgency for interest-rate cuts, emphasizing the strength of the US economy.
* Fed Barkin's Approach: Fed's Barkin is data-dependent for rate cuts in 2024.
* Current Gold Price: Gold is trading around $2,040.
* Inflation and Interest Rates: Inflation is expected to soften with higher interest rates by the Fed.
* Investor Optimism: Investors are optimistic about future rate cuts in 2024, despite warnings from the Fed about maintaining restrictive interest rates.
* Divergence in Projections: Bostic's view contrasts with the median projection of three rate cuts, creating uncertainty in the market.
VEDL Stock Analysis and Big Demerger NewsHi Friends,
I'm getting queries from many people and so many traders are in panic who are holding VEDL shares. We observed that VEDL looking week since Jun'23 specifically after declare dividend.
I'm already shared levels of 205 to our clients and accumulated more qty yesterday.
What you should know:-
Big News
Vedanta announces demerger to split business into six listed entities
Vedanta announced creation of independent verticals through demerger of underlying companies, mainly its metals, power, aluminum, and oil and gas businesses to unlock potential value.
As stated, the company plans six separate listed entities, namely:
Vedanta Aluminum
Vedanta Oil & Gas
Vedanta Power
Vedanta Steel and Ferrous Materials
Vedanta Base Metals
Vedanta Limited
Vedanta added that the de-merger is planned as a vertical split, for every 1 share of Vedanta Limited, the shareholders will additionally receive 1 share of each of the 5 newly listed companies.
NAVAWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
GMMPfaudler- Big move on the cards?GMMPfaudler was on my watchlist from past couple of months because of its beautiful consolidation after a fall.
Recently, the company has announced good Q1 results due to which a breakout was seen in the stock. It was followed by some profit booking.
On friday, the stock gave a gap down opening due to news(GMM selling stake in the stock) followed by a huge buying momentum.
It seems like the gap down was a SL hunting move for the breakout buyers.
The chart is looking very strong at CMP for minimum target of 1750 and 1970. SL can be below 1400 DCB which is a strong demand zone.
However, since its a news based stock, the risk associated is higher.
Please note that I am sharing this idea only for educational purposes.
One can study and observe the chart as it could be a very beautiful example of how a big move is always preceded by SL hunting.
USOIL.F ANALYSIS ( Crude Oil Prices )ANTICIPATION OF FED DECISION
The Federal Reserve is meeting this week to decide on a potential interest rate hike. While analysts agree that the central bank will maintain its rates for the first time since March 2022, investors are focused on the tone of the announcement. If the Fed hints at further rate hikes later in the year, as many predict, oil prices could decline further🔻📉.
GLOBAL ECONOMIC CONCERN
The Eurozone has entered a technical recession, and there are concerns about the U.S. economy facing a similar fate due to potential interest rate hikes by the Federal Reserve in response to high inflation. The economic data from China, the world's largest oil importer, also showed a decrease in exports for the first time this year, raising concerns about short-term global oil demand.
TECHNICAL ANALYSIS
As per the technical analysis of USOIL in a DAY-TF,WEEKLY-TF & MONTHLY-TF are showing downtrend ( STRONG SELL ). Apart from this, Moving Average ( MA5 (SELL 69.28), MA10(SELL 70.47), MA50 ( SELL 73.88), MA200 (SELL 78.20)) & Technical Indicator ((RSI(14)SELL), (STOCH(9,6)OVERSOLD), (MACD(12,26)SELL)) are showing strong sell.
Gold Latest Analysis before Fed decision ,PMI and ISM (Short) ?Be cautious of trade today as it could be highly volatile environment due to different news today .
Gold is forming bullish penant , if broken could lead gold to 2028 -30 levels before a correction.
Happy trading , look for stop loss hunts due to great volume today.
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btc in danger zone if this happensbitcoin has surprised many of us , we have been witnessed a rapid week of bullish but it all came after a deep dive of $19600 and now btc is trading around $28500 what major concern here for bullish reversal here is
if it comes below $26330 then short position will make their high posittion
for further check the bio
thanks!
Unpredictable NIFTY ,Is it a bear trap?Yesterday, I had posted regarding the IVHS pattern of Nifty. Today, market had a big breakaway gap up opening followed by upmove to a strong resistance of 17600.
Yesterday, the market had given a bearish closing and looks like this was a short covering which was triggered by strong Rupee vs USD.
Today's closing above 17600 would be either a bull trap or a signal for bullish move upto 17775 . Monday market would be exciting and I would like to wait and watch rather than having an open position.
This is my personal opinion and kindly trade as per your own analysis.