Priceaction
GOLD PRICE TECHNICAL ANALYSIS ( DAILY CHART )Fiday’s pullback in Gold price from near 8-day highs of $2,048, the path of least resistance still remains to the upside.
The daily technical setup for Gold price will continue to favor bullish traders so long as the 14-day Relative Strength Index (RSI) indicator holds above the midline and the price manages to defend the 21-day Simple Moving Average (SMA) at $2,016.
A daily closing below the latter could fuel a fresh decline toward the 50-day SMA at $1,982. However, the $2,000 threshold could be a tough nut to crack for Gold sellers.
On the flip side, acceptance above the $2,040-$2,050 region is critical to resuming the Gold price recovery toward the $2,100 psychological level. The next bullish target is envisioned at the all-time highs of $2,144.
REGARDS
TRADE WITH RITIK
PVRINOX - SWING TRADE - 18th December #stocksPVRINOX (1D TF)
Swing Trade Analysis given on 18th December, 2023 (Monday)
Pattern: ASCENDING TRIANGLE
- Volume Spike at Neckline - Done ✓
- Neckline Breakout - Done ✓
- Retracement + Consolidation - In Progress
#stocks #swingtrade #chartanalysis #priceaction #traderyte #pvrinox
HEAD AND SHOULDER PATTERN BREAOUT IN NMDCStock gave Breakout of Head and Shoulders Price action pattern and retested the breakout zone and also break the previous high and showing some bullishness.
Entry - 168 to 169
Target 1 - 179
Target 2 - 197
This is not a buy or sell call, analysis is shared for educational purpose.
NIFTY METAL Sector Analysis (1W TF) - 16th December 2023#NIFTYMETAL Sector Analysis (1W TF)
PATTERN: RISING WEDGE BREAKOUT
- The Metal sector has shown a fabulous up move since beginning of 2023
- Wait for Breakout of the Resistance Zone OR Reversal !
#stocks #swingtrade #chartanalysis #priceaction #traderyte #india #indiagdp #StockMarketindia
NIFTY MEDIA Sector Analysis (1W TF) - 16th December 2023#NIFTYMEDIA Sector Analysis (1W TF)
Pattern: RECTANGLE BOX BREAKOUT
(Or Inverted HnS or Cup and Handle)
- Breakout of Neckline Resistance expected
- Wait for Breakout
#stocks #swingtrade #chartanalysis #priceaction #traderyte #india #indiagdp #StockMarketindia
NIFTY FMCG Sector Analysis (1W TF) - 16th December 2023#NIFTYFMCG Sector Analysis (1W TF)
Pattern: RECTANGLE BOX BREAKOUT
- Breakout of Resistance - Done ✓
- Retracement & Consolidation- Done ✓
- Pullback Candle - In Progress
#stocks #swingtrade #chartanalysis #priceaction #traderyte #india #indiagdp #StockMarketindia
NIFTY ENERGY Sector Analysis (1W TF) - 16th December 2023NIFTY ENERGY Sector Analysis (1W TF) - 16th December 2023
Pattern: SYMMETRICAL TRIANGLE BREAKOUT
- The entire sector has been on a good up move since beginning of 2023
#stocks #swingtrade #chartanalysis #priceaction #traderyte #india #indiagdp #StockMarketindia
NIFTY AUTO Sector Analysis (1W TF) - 16th December 2023#NIFTYAUTO Sector Analysis (1W TF)
Pattern: ASCENDING CHANNEL PATTERN
- If it breaks the Resistance zone then it could be expected to move to the top of the channel trendline
#stocks #swingtrade #chartanalysis #priceaction #traderyte #india #indiagdp #StockMarketindia
LXCHEM - SWING TRADE - 3rd December #stocksLXCHEM (1D TF)
Swing Trade Analysis given on 3rd December, 2023 (Sunday)
Pattern: ASCENDING TRIANGLE
- Volume Spike Buildup Near Resistance - Done ✓
- Neckline Breakout - In Progress
- Retracement + Consolidation - In Progress
#stocks #swingtrade #chartanalysis #priceaction #traderyte #lxchem
TEXRAIL - SWING TRADE - 15th December #stocksTEXRAIL (1D TF)
Swing Trade Analysis given on 15th December, 2023 (Friday)
Pattern: RECTANGLE BOX BREAKOUT
- Breakout of Resistance - Done ✓
- Volume Spike Buildup - Done ✓
- Retracement & Consolidation - Done ✓
#stocks #swingtrade #chartanalysis #priceaction #traderyte #texrail
Great volume breakout in Balaji AminesBalaji Amines almost gave a long pending breakout today.
High level of volume seen today, adding to confidence for its breakout soon.
The stock can be considered for buy above today's close, 2208, with an SL of the trendline shown or simply 2295.
First target will be 2600 where resistance can be seen.
Disclaimer: I'm not a registered analyst. I'm only sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
Bank of India Simple Analysis BullishBSE:BANKINDIA After a big downtrend price has been able to break the trendline and create a "U" shaped recovery, and also broke Lower High, this indicates that the price has changed its temporary downtrend and shall go up.
Expecting a Long-Term Target of 216 for now.
Nifty Price Action.As per chart, Nifty has given triangle pattern break out. It was Retested triangle pattern support and successfully bounced from19250. Nifty also break all time high 19995 which is bullish sign for considerable gain now. It may consolidate here and then resume it's upward journey towards 21320 and 23320 soon.
Cup & Handle Pattern-A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.
-A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long.
- NSE:NIFTY Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern.
BITCOIN PRICE PREDICTION ( WILL TOUCH $50000 )* Bitcoin's current price: $43,350
* Weekly gain for holders: 15.25%
* Recent bear market toughness below the 200-week Moving Average
* Optimism: 50-week Moving Average expected to cross above the 200-week in a "golden cross"
soon
* Monthly gain for Bitcoin holders: 23%
* Weekly gain: 15%
* Projections: Targeting $50,000 by the third week of December
* Analysis notes the addition of $30 million in Bitcoin spot bids
Confidence in further price appreciation indicated
* Regardless of a potential dip to $42,000, the analyst believes Bitcoin is on track to reach
$50,000.
ZEEL - SWING TRADE -3rd December #stocksZEEL (1D TF)
Swing Trade Analysis given on 3rd December, 2023 (Sunday)
Pattern: SYMMETRICAL TRIANGLE
- Volume Spike Near Resistance Trendline - Done ✓
- Trendline Breakout - In Progress
- Retracement + Consolidation - In Progress
#stocks #swingtrade #chartanalysis #priceaction #traderyte #zeel