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Brent oil buyers need successful break of $100 to keep controlBrent oil crossed a downward-sloping resistance from mid-June to refresh the monthly top on Friday. However, a sustained break of the 100-day EMA, around $99.50 by the press time, as well as the $100.00 threshold, appears necessary for the buyer’s conviction. Following that, the black gold price could quickly rise towards the 50% Fibonacci retracement of the June-September downturn, near $105.00. In a case where the commodity remains firmer past $105.00, it can easily challenge the July 29 swing high surrounding $111.30. Alternatively, pullback moves could aim for the previous resistance line, around $95.20 at the latest, a downside break of which could tease the sellers. In that situation, the bear could aim for the weekly support line near $91.50 before rushing toward the $90.00 round figure. It’s worth noting that the oil’s sustained trading below $90.00 won’t hesitate to revisit the multi-month low marked in September, around $83.25. Overall, Brent oil prices recently overcame one key hurdle to the north but the buyers need validation.
VELOCITY:BRENT
by MTradingGlobal
Indusind,1137 will be grt place to buyIndusind weekly chart looks promising as of now, pullback towards 1137 will provide good risk reward setup. After spending 45 weeks below this price, Indusind broke out on 5th Sept 2022. So in my humble opinion price should not go below 1137 or 1062 which is 200 weekly support. Any retracement towards this zone will give swing traders great opportunity to earn quick 5-6%. Plan a) place alert for 1137 and enter with only 33% of plan qty and add more once price open above 1235 b) buy 33% qty near 1137 and add more near 1065 Sl in both cases will be closing below 1035. As Bhasin sahab always says " lene ki chesta to kijiye" Always respect risk, happy earning :)
NSE:INDUSINDBKLong
by ssudhirsharma11
Adanient buy near Daily EMA 9 lowrisk high reward 3358 entryToday I am going to share a low risk but high reward setup in Adani Enterprise. Since 24th June 2022 this stock never gave daily closing below EMA 9 and if anyone gets entry near EMA 9 support which should be around 3358 as per Friday closing. Then this stock will give great Risk reward, people who have missed out entry on lower levels might try to enter near this support so setup looks great to me. If entry is at 3358/3360 then targets can be 1) 3435 2) 3500 3) 3600 SL any day closing below Daily EMA 9 simple. Never bet more than 10% of your capital in any setup, respect Risk, reward will follow you. Enjoy
NSE:ADANIENTLong
by ssudhirsharma11
1
52 Week High Breakout in LUMAX AUTO We can observe that the price has successfully closed above the previous 52 Week's high price which was a major supply zone and the price has reversed from that zone couple of times. Increased volume gives confirmation for zone breakout. The stock has the capacity to make nearly50-60% up move in the coming days. Trade set-up 1) Ideal entry price would be 220-225. 2) Strict stop loss at 140. 3) Possible targets are 266,343,400. 4) book profits as per your risk-reward. Note:- This is not a recommendation, make your own analysis.
NSE:LUMAXTECHLong
by SWING2TRADER
5
Possible Supply Zone Breakout in Anant Raj (W)Finally stock has managed to break above the previous supply zone which was sustained for almost 8 years. For breakout confirmation stock has to close above 88 with good volume in the weekly chart. In the hourly chart, the price has given a flag and pole breakout with the first target of 100. SL for the trade can be placed at 77. All the possible targets are mentioned in the chart. This is not a trade recommendation, Do your own analysis before investing. Do share your views on this.
NSE:ANANTRAJLong
by SWING2TRADER
Rules to keep in mind while trading to became successful traderMost traders and investors treat trading as a hobby, because, they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Anyone who wants to become a profitable stock trader need only spend a few minutes online to find such phrases as plan your trade, trade your plan and keep your losses to a minimum. For new traders, these things can seem more like a distraction than actionable advice. If you're new to trading, you probably just want to know how to hurry up and make money. Each of the rules below is important, but when they work together the effects are strong. Keeping them in mind can greatly increase your odds of succeeding in the markets. Key Takeaways Treat trading like a business, not a hobby or a job. Learn everything about the business. Set realistic expectations for your business. Rule 1: Trade based on Rule, when in doubt, stay out, Always Use a Trading Plan Rule 2: Treat Trading Like a Business, not as a hobby Rule 3: Proper position sizing is the key Rule 4: Use Stop loss never trade based on hope, Protect Your Trading Capital Rule 5: Constantly Analyze your mistakes and try to learn from it, become a student of the markets Rule 6: Think about the risk potential before your reward potential, Risk only what you can afford to lose Rule 7: Develop a methodology based on Facts, The objective is not to buy low and sell high, but to buy high and to sell higher Rule 8: Trend is our real friend so Don't fight the trend Rule 9: Never, under any circumstance add to a losing position Conclusion Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive areas. This post is just for educational and motivational purpose, See you all next week. 🙂 RK Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:TATAMOTORSEducation
by RK_Chaarts
8
Gold teases bears as Fed Chair Powell braces for Jackson HoleGold fades the bounce off 61.8% Fibonacci retracement of July-August moves as traders await Fed Chair Jerome Powell’s appearance at the annual Jackson Hole Symposium. In doing so, the yellow metal not only takes a U-turn from the 200-EMA but also portrays a bearish flag formation in the four-hour play. However, the quote’s further downside hinges on its sustained trading below $1,750. Following that, the south-run towards the key Fibonacci retracement support at $1,728, also known as the golden ratio, appears imminent during the theoretical slump targeting the fresh monthly low near $1,670. That said, multiple lows marked during late July near $1,712-10, precede July’s monthly bottom of $1,684 to offer an intermediate halt during fall. Meanwhile, the 200-EMA and upper line of the flag, respectively around $1,766 and $1,770, guard the short-term recovery of the gold prices. Also acting as the short-term upside hurdle is the area comprising multiple lows marked during August 09-11, close to $1,785, as well as the August 04 peak near $1,795 and the $1,800 threshold. In a case where XAUUSD remains firmer past $1,800, the bulls can aim for the monthly top surrounding $1,808, as well as the mid-June swing high near $1,860. Overall, gold bears have an upper hand ahead of the key event. Should Powell upends the market’s hopes of speaking dovish, the bullion prices are likely to witness a notable downside.
OANDA:XAUUSD
by MTradingGlobal
IGL 1:3 Trade. Time Frame: 1 yearThis has run up in last 1 week very quickly. Yet this is just a starting. Keep tracking, any retrace around 400 can give a better entry point. Fundamental Trigger: - Gas price has increase substantially, Govt is diverting Industrial Gas to IGL & MGL to cool off the price of LPG. - Hence, Their input cost will collapse dramatically & Margin can revert back sharply. - Next 2 quarter will be epic for both IGL & MGL Technical : - Risk rewards is great for MGL then IGL, Gujarat gas is a laggard. - Price may correct for 1-2 week maybe. But the long term trend is positive. Disc. : Invested in both IGL & MGL. P.S. : like & let me know if these inputs help you. Little appreciation would be great..! :)
NSE:IGLLong
by IIMA_Brat
USDCAD bears aim for 100-DMA inside 10-month-old rising channelUSDCAD extends the week-start pullback from a three-week high inside an upward sloping trend channel established since late October 2021. Given the downbeat RSI and the bearish MACD signals, the Loonie pair is likely to remain pressured inside the bullish chart formation. However, the 100-DMA support near 1.2785 could challenge the bears. Also acting as a downside filter are the 50% and 61.8% Fibonacci retracements of October 2021 to July 2022 upside, respectively near 1.2755 and 1.2640. In a case where the pair drops below 1.2640 support, the bears could well challenge the bullish pattern while poking the 1.2570 key support. Alternatively, recovery moves could aim for the latest swing high near 1.2985 and the 1.3000 psychological magnet. Following that, multiple tops marked near 1.3075-80 could challenge the USDCAD bulls. However, the aforementioned channel’s resistance line, close to 1.3150 will be a tough nut to crack for the buyers afterward. Even if the pair rises past 1.3150, the latest swing high surrounding 1.3230 will be in focus. Overall, USDCAD remains on the bull’s radar but intermediate pullbacks can’t be ruled out.
by MTradingGlobal
Possible Zone Breakout in Jubilant IngreviaObserved possible zone breakout in Jubilant Ingrevia. Where stock was trading in a range for the past few months. Now we can see the price moving towards the upper range with significant volume support. Also, it has already broken the previous trend line with good volume. considering these price is expected to move upwards. Trade set-up 1) Can enter trade if price closes above 541 in daily chart. 2) Stop-loss can be at 464. 3) Possible targets are 609 & 648 This is not a recommendation. Do your analysis before investing. Please let me know your view on this trade in the comment
NSE:JUBLINGREALong
by SWING2TRADER
2
USDJPY breaks key support before Fed’s preferred inflation gaugeUSDJPY broke a five-week-old support line, as well as a horizontal area around 134.25 that comprises the levels marked since June 17, to refresh the monthly low near 133.75. It’s worth noting, however, that oversold RSI conditions challenge the bears ahead of the US PCE Price Index for July, the Fed’s preferred inflation data. However, the corrective pullback needs validation from the immediate horizontal support-turned-resistance around 134.20, as well as the ascending trend line from June 23, near 135.75, to recall the buyers. Even so, the 200-SMA near 136.20 will test the upside momentum. On the contrary, the pair’s further downside aims at the 78.6% Fibonacci retracement of the June-July upside, around 133.15. Following that, the 131.50-25 area comprising mid-June lows and highs marked in April, as well as in May, will be a tough nut to crack for the pair bears. It’s worth noting that the pair’s sustained declines past 131.25 could make it vulnerable to revisiting May’s low around 126.35. Overall, USDJPY recently broke the crucial support but the odds favoring further downside are fewer.
by MTradingGlobal