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Tata Motors hits 52-week highTata Motors hits 52-week high ahead of Q4 results; soars 32% so far in CY23 Brokerage firms are expecting a strong recovery in Tata Motor's financials as supply-side issues are relaxing (for JLR) and commodity headwinds are easing (for PV and CV). Tata Motors is expected to report a healthy performance in Q4FY23 primarily tracking a recovery in wholesale volumes at Jaguar Land Rover (JLR). Total sales volume at Indian operations was at 2.52 lakh units, up 10.4 per cent quarter-on-quarter (QoQ) with JLR sales volume (including China JV) anticipated at 1.08 lakh units, up 16.6 per cent QoQ.
NSE:TATAMOTORS
by chetnaparmar833
GOLD TRADING PROBABILITIES Hello friends I am sharing the commodity Gold futures daily chart for educational purpose for that as we can see after hitting a All Time High of 61371 currently is is trading near a good support zone of 59600 and current price is 59800 so what are the coming probabilities in This security according to me I am sharing below. PROBABILITY ONE-: That is can touch to it's support near about 59600 and will give a bounce back from there and will hit a high near about to it's All time high or more to give a breakout there for new All time high. PROBABILITY TWO-: That is could break support and will reach in to it's demand zone area where we can see on chart that accumulation was happened before the breakout and All time highs too and there we can see that a new trading zone will formed where 59600 will act as a strong resistance because price will trade below support. Traders can use small time frame chart for early executions I am using daily chart for taking a view only By this chart we can understand how trading zones are formed and what are the correct time to Close a trade in profit or loss and identify the re-entries or fresh entries for buy or sell both. NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk 𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
MCX:GOLD1!
by AMIT-RAJAN
4
Banknifty MTF Analysis Banknifty on Monthly tf looks to be travelling in this channel for now, and after three months of correction since it made ATH in Dec 2022, last monthly it made a doji and potentially by April closing it make a Morning star formation which is currently under progress. Also Banknifty has crossed previous two months high so far. On weekly timeframe, Nifty has given one of the sharpest rally in recent history and the price pattern which it has formed is three while soldiers. "The three white soldiers candlestick pattern suggests a strong change in market sentiment in terms of the stock, commodity or pair making up the price action on the chart. When a candle is closing with small or no shadows, it suggests that the bulls have managed to keep the price at the top of the range for the session. Basically, the bulls take over the rally all session and close near the high of the day for three consecutive sessions. In addition, the pattern may be preceded by other candlestick patterns suggestive of a reversal, such as a doji." On weekly charts, as indicated earlier in my previous analysis of pitchfork view posted. BN took support at medial pitchfork line and made a weekly Morning star, with a Insider breakout as well and has been rallying since then Also, on weekly charts BN in Oct 2021 after making a ATH, went into correction mode in falling channel and did almost 20% correction in 280 sessions and then after giving a falling channel BO in Aug 2022, it made a new ATH in Dec 2022. It moved around 20% in 50% of the time it took for correction from previous ATH i.e. 140 session. Now, again after making a new ATH in Dec 2022, BN has corrected in falling channel for around 12% in around 120 sessions and last week it has given a falling channel BO, so if BO sustains - I am anticipating similar sort of 12% upsidee move run in 50% of the time it took for correction i.e. a potential that BN can hit 45K by Q2 In terms of Fibo, BN has closed above 61.8% retracement level of the correction from ATH to recent swing low of 38613.5 level. If price continue to sustain above 42K i.e. 61.8% fibo level, then possibility of BN touching the next Fibo level around 43K can't be ruled out even before giving significant pullback In terms of Bands,BN brokedown 20Weekly MA in Jan'22 and then after 10 weeks of consolidation below it, it has again given a fresh breakout of 20 weekly MA. On previous such instance when it did same in July 2022 - it went on to make a new ATH in Dec'22 In terms of AVWAP, BN has been offlate facing resistance at avwap drawn from ATH levels and has now been trading above it. Previously it tried to close above the avwap levels in Dec 29th, but there wasn't any follow up candle which closed above the high of Dec 29th. This time two consecutive green closing with follow up candle closing above PDH. So, possibility of this avwap acting as a good support is high for positional view. On daily charts, as posted earlier that it was traveling in falling channel and finally gave a good breakout and has been so far moving well, with daily RSI inching towards 60+ overall momentum is very high On 4 hourly, chart - if the current wave is a impulse wave 3, possibility of it moving till 200 to 260% of wave can't be ruled out. Overall, quite bullish on Banknifty and looks like dips will be bought heavily Happy Trading.
NSE:BANKNIFTYLong
by aktradelearning
2
Gold needs to break $1,980 support for short-term downsideGold price grinds lower between a three-month-old ascending resistance line and an upward-sloping trend line from late March. That said, the quote recently bounced off a convergence of the 21-day EMA and an upward-sloping support line from March 22, close to HKEX:1 ,980, which in turn suggests the commodity’s further recovery towards the HKEX:2 ,020 immediate hurdle. However, nearly overbought RSI and nearness to the aforementioned multi-month-old resistance line, currently around HKEX:2 ,045, could challenge the XAUUSD bulls. Meanwhile, a downside break of the HKEX:1 ,980 support confluence could quickly drag the Gold price toward February’s high of around HKEX:1 ,960. Following that, 50% and 61.8% Fibonacci retracement of its late November 2022 to early April 2023 upside, near HKEX:1 ,890 and HKEX:1 ,853 in that order, could test the Gold sellers. It’s worth noting that the XAUUSD remains on the buyer’s radar unless it offers a daily closing below the 200-day EMA level of around HKEX:1 ,845. Overall, the Gold price is likely to grind higher unless breaking the HKEX:1 ,845 level. That said, a downside break of HKEX:1 ,980 can trigger the metal’s short-term fall.
OANDA:XAUUSD
by MTradingGlobal
PostMortem on BankNifty Today & Analysis of 05 APR 2023 RBI MPCBefore we get into today's analysis let us spend some time on Inflation, MPC minutes by RBI & health of banking sector. You might be aware we have the MPC minutes & interest rate decision tomorrow. There are 3 possible outcomes status quo dovish hawkish  What really prompts RBI to rate hike are 2 things Inflation Liquidity in the markets Now the last minutes showed RBI not planning to lower its guard on fighting inflation - read here. What this means is that the inflation is still persisting at the upper band of 6%. And thats not at all good news for the economy as the cost of products keep rising at a level which will push a lot of people into malnutrition. The best tool the central bank has to counter inflation is to slow the economy by making the borrowing costs higher. ie increase interest rate (hawkishness).  In spite of the recent rate hikes, the 10YR GOI bonds reference index is trading at 7.27%. The banks has raised their lending rates as well as the deposit rates - but this is not materially felt in the GOI bonds or Gsecs. For comparison purpose, the 10YR US bonds has been plotted against the 10YR IN. Look at how steadily we have maintained a range whereas US bond rates has climbed 700% from the swing low. What I am trying to say is that the recent rate hikes here has not impacted the stock market, only if the higher tenure bond rates go up we can expect the stock market to fall. ie. people liquidating their equity scrips in favor of GOI bonds to get assured returns. Now the real reason why the Gsecs are not providing yields above 7.5% is something I have no clue on.  What happens if RBI increases the rates too much? The borrowers will have to cut down their expenses, capex etc to save money and reduce dependence on loans. One of the best way to do that is to reduce the employee strength. None of the previous rate hikes has triggered such a situation, RBI is also playing safe not to push it too much - a political move fearing the 2024 elections? I do not know.  Until they do that, people will continue to spend very heavily on commodity which will help inflation stay elevated. Recently the Govt. of India removed the LTCG indexation benefit for debt funds. Indexation benefit is the only thing that really accounts for the failure of the government in controlling the inflation. Because higher the inflation lesser will be the capital gains tax for the debt funds. Now the removal of this inflation index from picture is an open license to let inflation run elevated? I do not know. --- Coming back to the analysis part, NSE:BANKNIFTY opened well above the resistance level of 40880 at 40972. Made a strong 1st candle briefly coming below this SR and then closed higher indicating bulls may be in control. Today's NSE:BANKNIFTY performance might be skewed due to the moves in NSE:HDFCBANK - I am yet to figure out why we had a 2.68% gain in HDFCBK the highest weighted stock in bank nifty index. If you look at the opening minutes of the other major banks the counter balance trades that had to be done to keep NSE:BANKNIFTY at neutral position was so huge. NSE:ICICIBANK , NSE:KOTAKBANK , NSE:AXISBANK & NSE:SBIN had to go into negative territory to compensate for the weight exerted by NSE:HDFCBANK . And for some reasons these were not impacting the option prices. On some other day the option premiums would have shot up due to the uncertainty - but today we had a below normal premiums. Even with the MPC scheduled for tomorrow - there was no fear ! The option prices dipped below the usual Wednesday closing averages. --- 15mts chart is looking bullish now with the top most support point well defended. Bears can only hope we have a pull back rally, if they are lucky the HDFCbk trades could reverse tomorrow bringing NSE:BANKNIFTY back to the range. Charts do not work on hopes, but we humans do! --- 1hr is not bearish nor bullish. Further resistance break out will shift the sentiment in favor of the bulls. A decent pull back should be in the cards because of the distance price has covered from 27th March.
NSE:BANKNIFTY
by viswaram
RESISTANCE CAN BECOME SUPPORTHello friends I am sharing the commodity silver daily chart for educational purpose for that as we can see that 63000 zones was a hazardous resistance for it and after hitting all time high of 72700 levels it looking to came down for retesting the 63000 zones as all we know that if price is trading above the previous resistance zone then that price can become support for any of security in market so we can expect a good bounce from that identified support zone and for that I am sharing my ideas below IDEA NUMBER ONE-: It will reach to it's support zone and give a bounce from there for the target of 68000 in this execution we will take a stop loss of a closing below that support on daily candle basis. IDEA NUMBER TWO-: If it will breach it's mentioned support zone and close below then we can consider as go for a short in this condition for the 60700 zones as looking a good support zone 2 for covering our shorts in this execution we will take a stop loss of closing above of support zone. NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk 𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
MCX:SILVER1!
by AMIT-RAJAN
4
gold in a triangle triangle formation is a chart pattern formed by drawing trendlines along the highs and lows of price action. This pattern typically indicates a period of consolidation in the market, with decreasing volatility and narrowing price ranges, as the forces of supply and demand become more balanced. Ascending triangle: This pattern forms when there is a horizontal resistance level and an upward sloping trendline connecting the higher lows. Traders often see this pattern as a bullish continuation pattern, meaning the price is likely to break out above the resistance level. Descending triangle: This pattern forms when there is a horizontal support level and a downward sloping trendline connecting the lower highs. Traders often see this pattern as a bearish continuation pattern, meaning the price is likely to break down below the support level. Symmetrical triangle: This pattern forms when there are both a descending trendline and an ascending trendline converging towards each other. This pattern does not indicate a specific directional bias, but rather suggests that a breakout in either direction could occur. Traders often use triangle patterns to help identify potential trading opportunities, such as buying when the price breaks out above the resistance level of an ascending triangle, or selling when the price breaks down below the support level of a descending triangle. However, it is important to note that triangle patterns are not always reliable indicators, and traders should use other technical analysis tools and risk management strategies to make informed trading decisions.
TVC:GOLDLong
by pratik2358