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Parallel Channel

Bearishness Could Continue in coming weeksGold Showed decent buying from 2000 zone in last 2 days of the week as Gold closed just within the Larger timeframe Uptrend line showing sharp V shaped recovery after the breakdown that happened Mid-week. The last 2 days of the week show that there could be some more upside till 2050 2055 before Bears re-enter. 2055 on upside And 2015 on Downside are the Levels. Trending move on either side break is possible. 2065 zone on upside 1990 zone on downside could be tested. I've Mentioned 3 Possible Scenarios that could play out. Green Yellow Red I am expecting Yellow One to Play out. Stick to the levels and have a Profitable Week ahead.. All the best!
OANDA:XAUUSDShort
by DrAnandM
12
Gold Showing Indecisive Moves.. Despite the Strong Break Down of the Trend Line, Gold as of the time of Publication has not shown follow-up Selling.. 2025 2030 is the Value area for Shorts to re enter if they are to. If Bears Fail to capitalise this opportunity, in that case 2045 zone could be tested.. More Bullishness Only above 2045 Bearishness Could Intensify Below 2005, in that case 1995 1990 could be tested.. Remember we are near Strong Demand Zone.. We Might see a Strong Bounce from the Demand zone of 1995 1980 before any further bearishness.
OANDA:XAUUSD
by DrAnandM
1
18 Jan ’24 — FIIs sold 20000 CR in 2 days, Nifty50 in trouble?Nifty Weekly Analysis Between the last expiry and today, Nifty has only fallen 191pts ~ 0.88%. This does not seem to showcase what really happened during this week. We hit a new lifetime high of 22124 and then fell 839pts ~ 3.8% in 2 days. Something that we rarely see with Nifty. 16mts chart Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Yesterday Nifty was at the top end of the ascending channel and today it closed right at the bottom end. From 26th Oct 2023, Nifty has always respected the bottom part of the ascending channel. The next support comes up at 21491 and falling below that would also mean we are breaking the channel.” 4mts chart The gap down ensured we broke the support at 21491. Further price action suggested that we may have some deep cuts today, but strangely Nifty reversed right at 10.00 at 21285 level. Not sure whether it was DIP buying, but we went past the resistance zone of 21491 by 11.59. Nifty did not have enough strength to get back into the ascending channel - but it managed to close near the SR level showing some respite. FIIs sold over 20000 crores of equity over the last 2 days. When was the last time we had this high volume of selling? 20-25k crore is the approx. volume of transactions they do for a whole month - we got that in 2 days. What do they know that we retail traders don't? 63mts chart Today’s price action has confirmed that the channel is broken, but not the support/resistance of 21491. If Nifty trades above 21491 in the morning session - the bears may really feel abandoned. Ideally, the next stop should be 21041 - that was where Nifty bounced off from the trendline on 21st Dec 2023. Our stance continues to be bearish until proven wrong.
NSE:NIFTYShort
by viswaram
15 Jan ’24 — Bullish reinforcements are on the way! Nifty50Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Till yesterday, we were looking for neutral trades with a possibility of going down. See how the tables have turned today. For Monday — we need to look out for bullish opportunities now.” 4mts chart Another gap-up of 131pts ~ 0.6% today! It was required to break the channel resistance line. There was a minor fall, but the 22000 level provided early support and we kept the gap unclosed. Once Nifty50 found its balance, it rallied steadily for the day and closed near the highs. The new ATH is 22111. 63mts chart The break away from the channel is evident in the 63mts chart. See the points Nifty is climbing every time it gets a stance upgrade from neutral to bullish. Remember how things were looking weak on the 8th and 10th of Jan and how Nifty turned from there? For tomorrow, the bullish stance continues and the first support will be the ascending channel top-line ~ 22050 levels.
NSE:NIFTYLong
by viswaram
POLYCAB - Weekly Channel pattern - Read description carefullyPOLYCAB - Although the company has corporate governance issues, there could be good swing trading opportunities in the stock. My thoughts (not a trading recommendation): 2 scenarios - I'd go long if the stock takes support at the channel bottom with good price action & reversal candlesticks. My stop loss will be if the channel breaks. I'd go short if the channel breaks with good volumes and my stop loss will be if the stock comes back into the channel.
NSE:POLYCAB
by SwingtradesbyAbhishek
12 Jan ’24 — Traders are cold-blooded, Bias changed to Bullish🐂Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday “Nifty looks perfectly neutral from here, the moment the support of 21491 gives away — we can start looking for bearish opportunities. To go bullish the ATH has to be taken out. With the IT majors TCS and INFY declaring the results — we should have a strong swing direction tomorrow.” 4mts chart link Major highlights today Gap-up of 120pts ~ 0..56% NiftyIT gains 5.14% Nifty50 takes out the ATH, new value = 21928 Nifty goes from neutral to bullish Today’s stop came right at the ascending channel top-line Never seen NiftyIT so stubborn to go up, a gain of 5.14% far exceeds expectations, and that too when the IT majors are at their all-time highs. What we still do not understand is the reason for outperformance when the results were average. Anyway, this was the major reason Nifty50 broke out from the neutral zone to the bullish zone. 63mts chart link Today’s price action was along the top trend line of the ascending channel, and careful enough not to break it. There is no shame in saying traders are cold-blooded. We cannot stick with our bias, direction, or opinions and expect the market to behave as per our analysis. If the markets have turned, we need to adapt. Till yesterday, we were looking for neutral trades with a possibility of going down. See how the tables have turned today. For Monday - we need to look out for bullish opportunities now.
NSE:NIFTYLong
by viswaram
Gold - Are Bulls Back? Or Will Bears Strengthen their Grip?OANDA:XAUUSD If Looked at Closely, The Trend Zone has been tested and decent buying is evident. Bearishness will fade above 2050 In that case 2065 2075 2090 and eventually 2100 might open up 2005, Only below this trend zone some more Bearishness is possible in which case 2000 1995 1980 could be tested. So in Summary 2050 2005 Are the levels If Gold sustains outside these levels, then the above mentioned zones could be tested.
OANDA:XAUUSDLong
by DrAnandM
2
Bank Nifty - Jan 10We had nearly 900 points move today. Because of this, tomorrow can be a less movement day. Price is moving within a channel. Trend deciding level is 47300. Pattern : Channel. Range : Medium. Trend strength : Normal. Buy Above : 47320. Stop Loss : 47260. Targets : 47400, 47480,47560, 47640 and 47720. Sell below : 47200. Stop Loss : 47280. Targets : 47120, 47040, 46960, 46880, 46800 and 46740. Expected expiry range is 46800 to 47600. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:BANKNIFTY
by vanathi
1
Kotak Mahindra Bank - Range ConsolidationKotak Mahindra Bank Limited offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. Book Value Per Share: 562.55 Dividend Yield: 0.08 TTM EPS: 86.40 TTM PE: 21.12 P/B: 3.25 Sector PE: 25.38 Positives: Company with high TTM EPS Growth Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year Efficient in managing Assets to generate Profits - ROA improving since last 2 year Growth in Net Profit with increasing Profit Margin (QoQ) Increasing Revenue every Quarter for the past 4 Quarters Annual Net Profits improving for last 2 years Book Value per share Improving for last 2 years Company with Zero Promoter Pledge Companies with current TTM PE Ratio less than 3 Year, 5 Year and 10 Year PE Brokers upgraded recommendation or target price in the past three months Decrease in NPA in recent results Mutual Funds have increased holdings from 9.45% to 9.63% in Sep 2023 qtr. Negatives: Declining Net Cash Flow: Companies not able to generate net cash Seems to be overvalued vs the market average Lagging behind the market in financials growth Net Profit TTM Growth % - Low in industry Price to Book Ratio - High in industry Promoters have decreased holdings from 25.94% to 25.93% in Sep 2023 qtr NOT A RECOMMENDATION. JUST FOR EDUCATION.
NSE:KOTAKBANK
by babutaaniket