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PUPS Price Finds Footing: Bull Run on the Horizon or Another FalAt press time, the PUPS price was trading close to $111.23, recording a swift intraday loss of 0.23%. The 4 hour chart witnesses a consolidation after a sharp fall in the last 24 hours. The PUPS price seems to be stabilizing near the 20 day exponential moving average after a sharp fall from the highs. The bears seemed to be dominating in the last 24 hours as a sharp fall in the PUPS (Ordinals) crypto was observed. The price experienced a sharp selloff after suffering rejection from a round level of $200 in the second half on Saturday and has fallen near $110 level. At the time of writing, the crypto was trading close to $111.23 recording a swift intraday loss of 0.23%. Earlier, the Bitcoin memecoin has experienced immense volatility since its debut five days ago. The PUPS price has hit an all time high of $452.66 on 9th April and hit its all time low of $33.09 on the very next day on 10th April. The short term trend outlook seems to be bullish. Even after a sharp drop in the previous session, the crypto is yet to break it daily low which indicates strength in the trend. However, the breakout or breakdown of the consolidation of the consolidation may indicate a clear direction. What is PUPS (Ordinals) & How It Works? PUPS (Ordinals) is a memecoin linked to digital art of pixel pups on the Bitcoin blockchain. It uses Ordinals, a method that embeds data into Bitcoin transactions, giving each piece of data a unique number and making it viewable to all. The Pups team plans to switch from BRC-20 to the more decentralized Runes protocol in April, coinciding with the Bitcoin halving. This move is seen as aligning with Bitcoin's decentralized ethos. As the Bitcoin halving approaches, excitement grows, potentially boosting related networks and tokens. Market experts anticipate positive trends for technical and memecoin projects around this event. PUPS Crypto Volume Analysis The volume analysis shows that the PUPS cryptocurrency received nearly $25.45 Million volume in the past 24 hours which is 13.78% less than the previous day’s volume. PUPS’s current market capitalization is $600.09 Million and ranks 218th among the overall crypto market. The volume to market capitalization ratio is 4.34% suggesting low volatility. The number of PUPS tokens in circulation is 7.77 Million which is also the total supply. Technical Indicators Imply A Mixed Outlook. The technical indicators imply a mixed outlook on a combined analysis. The PUPS crypto currently seems to be stabilizing above the 20 day exponential moving average suggesting a slightly positive outlook as per the EMA Also, at the time of writing, the MACD line as well as the signal line were hovering above the zero line suggesting a positive trend prevailing. However, a divergence is observed on a 4-hour chart, which indicates weakening of the trend. PUPS Crypto Forecast 2024 The analysts have a wide range of price targets for April 2024. The most optimistic view of analysts assumes the PUPS (Ordinals) price could advance to a high of $200.68 suggesting a potential gain of over 86.7%. The lower price target which the crypto could attain as per the analysts is $73.16 if it breaks the consolidation on the lower side. Conclusion. PUPS, which is a Bitcoin memecoin, is showing signs of stabilization near the 20-day EMA after a steep decline from its peak. Despite a recent bearish 24-hour period with a drop to around $110, the price has not made a breakdown of the previous day's low. Since its launch five days ago, PUPS has been volatile, reaching a high of $452.66 and a low of $33.09. The market cap stands at $600.09 million, with a low volatility as observed from the volume-to-market cap ratio. Technical indicators present a mixed but slightly positive outlook as per the EMA and MACD indicator analysis. Technical levels: Support levels: $95.7 and $73.14 Resistance levels: $131.5 and $200.68 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
by Ritika_TCR
Ethena Crypto (ENA) Nears ATH: Is There Room to Grow Beyond?Ethena crypto hover near all time high value and looks poised to grow more by the month end. The technical indicators imply a bullish outlook above the key EMAs of 20 and 50 days. The Ethena crypto is scaling near its lifetime high value and has grown by nearly 166% in the last 10 Intraday sessions. The upsurge seems unaffected by the short term correction in the overall crypto market. However, the volume inflow has dropped in the last couple of sessions indicating a loss of momentum on the buying side. Also, extremely overbought conditions might prompt some profit taking in the ENA crypto. The 4 hour chart shows that the ENA crypto is headed towards north taking multiple support from the 20 day EMA suggesting a strong trend prevailing. Now, until the crypto is maintained above the key EMA, it may continue to rise higher. However, if the selling pressure dominates and the price looms below the 20 day and 50 day exponential moving average, it may validate some sort of weakness and the crypto may slide lower. Ethena Crypto Volume Analysis The volume analysis shows that ENA crypto received nearly 813 Million USD in volume in the past 24 hours which is 38.99% lower than the previous day. It has a live market capitalization of 2.03 Million USD and ranks 53rd in the overall crypto market. The volume to market cap ratio is 41.70% suggesting high volatility in the market. It has a circulating supply of 1.425 Billion ENA tokens which is 9.50% of the total supply. The total supply of Ethena is 15 Billion tokens. ENA Crypto Technical Outlook. The technical indicators imply a bullish outlook on a combined note. The price currently hovers above the key exponential moving average of 20 and 50 days suggesting a positive bias in the market. At the time of writing, the MACD line was situated at 0.074 points and that of the signal line was placed at 0.066 points. Both the lines were hovering above the zero line indicating a positive outlook in the crypto. Ethena Crypto Forecast 2024 On the most bullish observation, The Ethena price could rise to a high of $1.98 by the end of April 2024 suggesting an upside potential of nearly 41.2%. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of dynamic support of 20 and 50 days after which the price may fall to $0.912. level. Conclusion. Ethena (ENA) crypto has surged 166% in the last 10 intraday sessions. The crypto hovers near its all-time highs, despite a broader market correction. However, declining trading volumes suggest waning buying momentum, and overbought conditions may trigger a profit-taking among the traders and investors. The 4-hour chart indicates a strong uptrend, supported by the 20-day EMA. Now, until ENA crypto stays above this level, the rise may persist. Conversely, falling below the 20-day and 50-day EMAs could signal a downturn. The technical indicators imply a positive outlook in the crypto. The positive view of our analysts hopes for the price to hit a new milestone of $2 by the month end. Technical levels: Support levels: $1.18 and $0.91 Resistance levels: $1.54 and $1.98 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:ENAUSDLong
by Ritika_TCR
Silver Shines Bright: Riding High Towards ₹1 Lakh Amidst Strong Technical Indicators and Outlook: Technical indicators suggest a strong momentum for silver, backed by positive Chinese service PMI data and a closely correlated movement with gold prices. The gold-silver ratio also offers insights into future price movements, making silver an attractive option for investors. Investment Advice: Given the favorable market conditions and strong fundamentals, investors are advised to consider adding silver to their portfolios, particularly on dips towards ₹82,849, which is preferred for fresh entry. The medium to long-term upside potential towards ₹1 lakh and beyond presents a compelling opportunity for investors seeking exposure to precious metals this year. Conclusion: In conclusion, the surge in silver prices, fueled by a myriad of factors including industrial demand, geopolitical tensions, and technical indicators, indicates a bullish outlook for the precious metal. Investors are urged to capitalize on this opportunity by considering silver as a valuable addition to their investment portfolios, with the potential for significant returns in the medium to long term.
MCX:SILVER1!Long
by rajeshtatineni85
Potential Breakout Alert: ICICIPRULI Shows Channel BreakICICI Prudential Life Insurance Company Limited (ICICIPRULI) has recently exhibited promising technical signals, indicating a potential breakout from its current trading channel. With its price surpassing the critical resistance level at 545, ICICIPRULI seems poised for a significant upward movement, targeting levels between 600 and 650. Let's delve deeper into the technical analysis to understand the potential trajectory of this breakout. Technical Analysis: Channel Breakout: ICICIPRULI has broken out from a well-defined trading channel, marked by a decisive move above the resistance level at 545. This breakout suggests a shift in market sentiment towards bullishness, indicating potential buying pressure. Volume Confirmation: The breakout is accompanied by an increase in trading volume, providing further validation to the bullish momentum. High trading volume during a breakout typically signifies strong investor interest and conviction in the upward movement. Moving Averages: The moving averages, such as the 50-day and 200-day moving averages, are indicating a bullish crossover, with the shorter-term average moving above the longer-term average. This crossover further reinforces the bullish sentiment and strengthens the case for a continued upward movement. Relative Strength Index (RSI): The RSI indicator is currently showing ICICIPRULI in the overbought territory, indicating strong upward momentum. While an overbought condition suggests a potential pullback, it could also signify sustained buying interest pushing the price higher. Price Targets: Based on the breakout confirmation and technical indicators, ICICIPRULI has the potential to reach price targets ranging between 600 and 650 in the near to medium term. Traders and investors may consider this range as potential profit-taking levels or areas to reassess their positions. Risk Factors: Market Volatility: Despite the bullish signals, market volatility can always pose a risk to the anticipated price movement. Traders should be prepared for sudden fluctuations and implement risk management strategies accordingly. Economic Factors: Macroeconomic indicators, regulatory changes, or industry-specific news can influence the stock's price trajectory. It's essential to stay updated on relevant developments that may impact ICICIPRULI's performance. Conclusion: ICICIPRULI's breakout above 545 signals a compelling opportunity for traders and investors. With technical indicators supporting further upside potential, the stock appears well-positioned to reach levels between 600 and 650. However, prudent risk management practices should be employed to navigate potential market uncertainties. As always, it's advisable to conduct thorough research and consult with financial professionals before making any investment decisions. Keep a close watch on ICICIPRULI's price action for confirmation of the anticipated upward movement. Happy trading!
NSE:ICICIPRULILong
by CyborgTradingHub
Develop a Winning Trading Mindset via Charting 🚀Trading is not limited to taking positions based on fluctuating stock prices. It is also about having the right trading mindset while placing trades. To develop a trading mindset, you need to use tools and techniques that can help you overcome emotions and trade based on data. And what better way to view data than on charts?! Using charts allows you to be disciplined, manage emotions, and stay focused on data for a successful trading journey. This is known as a winning mindset and in this blog, let us look at how charting can help you develop a winning mindset to perform well in the stock market. How to Develop a Trading Mindset Using Charts? To develop a trading mindset using charts, begin by understanding Dhan's connection with TradingView charts. Dhan has broker integration with TradingView, a platform offering interactive charts for analyzing financial markets. TradingView offers free chart analysis that can help identify trends, support and resistance levels, and potential reversal patterns. It also provides customizable drawing tools, such as trendlines, Fibonacci levels, and timeframes, to help users mark price levels, trends, and patterns on charts. With Dhan’s broker integration with TradingView, not only can you take trades directly from the Trading Panel, but also manage your entry and exit on charts. This helps you build confidence and a winning mindset. Let’s get into the details. 1. Increased Trading Clarity with Charts Patterns When trading, you can gain clarity using charts. You can easily visualize price movements through chart patterns like triangles or head and shoulders. These patterns help you identify potential trends and reversals in financial instruments. For example, if you see a head and shoulder pattern forming, observing the graphical representation of such market data can help you make more informed decisions. Charts provide a straightforward way to grasp complex market behaviors, helping you navigate the financial landscape with a clearer understanding of the unfolding trends. 2. Making Data-Driven Decisions using Indicators and Price Data Make decisions based on facts, not feelings. Use indicators like moving averages and Relative Strength Index (RSI) to interpret numerical data on charts. These tools help you grasp market trends objectively. When indicators show favorable conditions, you can enter a trade. Likewise, when they signal potential risks, think about exiting or adjusting your stop loss levels. This data-driven approach ensures your decisions are grounded in market analysis, minimizing emotional biases and cultivating a disciplined trading mindset. Similarly, you can also use candlestick patterns to analyze price data and avoid emotional biases. These patterns, like doji or engulfing candles, offer insights into market sentiment. Recognizing these patterns helps you make decisions based on concrete data and a rational approach to trading. This contributes to a more objective and successful trading mindset. 3. Support and Resistance for Entry and Exit Points Define your entry and exit points in trading by pinpointing specific buy and sell levels. You can do this by identifying support (price floors) and resistance (price ceilings) levels on charts to make strategic decisions. Conclusion Charts transform complex market data into clear visuals, helping in smarter, more informed trading decisions. By focusing on chart trends and patterns, you can minimize emotional biases, leading to a more rational approach to trading, and helping you develop a winning trading mindset. Creating a successful trading mindset takes time and effort. It's like a journey where you keep learning and adjusting trades based on current market trends. With Dhan's integration with TradingView charts, you can access a wide range of charting tools and build a trading strategy for success. Remember, it's a step-by-step process to become a successful trader.
NSE:NIFTY
by Dhan
3
STORJUSDTBased on the available data, the current price of STORJ is $0.637 with a 24-hour price change of +4.37% and a 7-day price change of +12.89%. The token's total supply is 424,999,998, and the circulation supply is 385,770,354. In terms of technical indicators, within the past 7 days, the MACD pattern is bullish with a Golden Cross occurring 10 times. However, the accuracy of the MACD signal is 40%. The BOLL pattern is bearish with a Lower Band Touch occurring 7 times, and the accuracy of the BOLL signal is 42.86%. The RSI and KDJ indicators do not show any specific patterns within this timeframe. Over the past 30 days, the MACD pattern is bearish with a Death Cross occurring 9 times. The accuracy of the MACD signal is 55.56%. The BOLL pattern is also bearish with a Lower Band Touch occurring once, but the accuracy of the BOLL signal is 0%. The RSI and KDJ indicators do not show any specific patterns within this timeframe. The funding analysis indicates that Major Whale Traders have a bullish position direction, with a long/short ratio of 3.57. According to the Market Sentiment Index, the sentiment is currently at 55, which represents a neutral sentiment. Based on the provided news, there is no specific information regarding STORJ. However, if you have any specific questions or require further analysis, please let me know. Risk Disclosure: Predictions are for reference only, not investment advice. Investing involves risks; please make decisions cautiously.
Long
by nikhilbansal
1
WOOUSDTBased on the provided data, the price of Woo Network (WOO) has experienced a 7-day price change of -7.75% and a 24-hour price change of -2.08%. To conduct a one-month analysis of Woo price movements, we will consider the start time as 2024-01-01 00 and the end time as 2024-01-29 07. During this one-month period, the price of Woo started at $0.3959 and closed at $0.3491, indicating a price change of -11.82%. The BOLL support price was $0.2962, while the BOLL resistance price was $0.4504. Analyzing the technical indicators for this period, we find that there are no specific patterns identified for MACD, RSI, BOLL, and KDJ indicators within both the 7-day and 30-day backtesting periods. In summary, over the one-month analysis period, the price of Woo experienced a decline of -11.82%. However, no specific patterns were identified in the technical indicators during this time. As far as Technical charts are concerened breakout will happen above the buy stop levels. Risk Disclosure: Predictions are for reference only, not investment advice. Investing involves risks; please make decisions cautiously.
Long
by nikhilbansal
1
Bearish Analysis for XAUUSD at 2075-2080 LevelsXAUUSD pair is currently trading in a critical price range, specifically between 2075 and 2080. This analysis aims to provide a bearish perspective on the market conditions within this price bracket. Technical Analysis: Resistance Levels: The price range of 2075-2080 has historically acted as a significant resistance zone. Multiple attempts to breach this level have been met with strong selling pressure, indicating a notable barrier for upward movement. Bearish Candlestick Patterns: Recent candlestick patterns, such as shooting stars or bearish engulfing patterns, signal potential weakness in the current uptrend. These patterns suggest that sellers are gaining control, and a reversal might be in play. Overbought Conditions: Examining various technical indicators, it becomes evident that the market is in an overbought state. Indicators like the Relative Strength Index (RSI) or stochastic oscillators highlight the potential for a correction or reversal. Fundamental Analysis: Dollar Strength: The strength of the US dollar should not be overlooked. Any signs of a strengthening dollar could add further downward pressure on gold prices. Monitoring economic indicators and Federal Reserve statements can provide insights into the USD's trajectory. Inflation Concerns: With the global economy recovering, there are growing concerns about inflation. While gold is often seen as a hedge against inflation, excessively high inflation expectations could lead to a shift in investor sentiment and capital allocation. Market Sentiment: Speculative Positioning: Analyzing the positioning of market participants, especially institutional traders and hedge funds, provides valuable insights. A significant buildup of short positions in this price range could signal a broader market sentiment leaning towards a bearish outlook. News and Events: Keep a close eye on economic news and geopolitical events. Any developments that could impact risk sentiment or the perceived safe-haven status of gold may influence the market's direction. Risk Management: Considering the potential for market volatility, it's crucial for traders to implement effective risk management strategies. Setting stop-loss orders and closely monitoring the trade as it progresses can mitigate potential losses. Conclusion: In conclusion, the 2075-2080 price range for XAUUSD presents a compelling bearish opportunity based on both technical and fundamental factors. However, prudent risk management and continuous monitoring of market conditions are essential for successful trading. Remember that actual market conditions can change rapidly, and it's important to stay updated with the latest information and adjust your analysis accordingly. Additionally, individual trading decisions should be based on a comprehensive understanding of your risk tolerance, financial goals, and market conditions.
FOREXCOM:XAUUSDShort
by ishhakmansur
1
A Bearish Outlook on ETHUSDT Amidst Technical WeaknessA bearish view on ETH/USDT (Ethereum to Tether) means that the market participants or analysts anticipate a decline in the value of Ethereum relative to Tether. Here are some factors that might contribute to a bearish outlook: Technical Analysis: Chart Patterns: Traders often use technical analysis to identify patterns, trendlines, and other indicators that suggest a potential downward movement. Moving Averages: A bearish crossover of short-term moving averages below long-term moving averages could signal a negative trend. Market Sentiment: Negative News: Adverse news about Ethereum, such as regulatory developments, security concerns, or technological issues, can lead to a bearish sentiment. Investor Sentiment: Monitoring sentiment indicators, such as social media discussions or surveys, can provide insights into market sentiment. Fundamental Analysis: Market Fundamentals: Negative developments in the Ethereum ecosystem, such as issues with smart contracts, scalability challenges, or changes in the development team, could impact the market negatively. Economic Factors: Economic indicators, such as inflation or interest rate changes, can influence the value of cryptocurrencies. Market Dynamics: Trading Volume: A decrease in trading volume, especially during a price decline, may indicate weakening demand and potential for further downward movement. Liquidity: Low liquidity in the market can amplify price movements, making it easier for the market to experience rapid declines. Global Economic Factors: Macro-Economic Trends: Economic events on a global scale, such as geopolitical tensions or financial crises, can impact the entire cryptocurrency market. Remember that cryptocurrency markets are highly volatile, and predictions can be challenging. It's crucial to conduct thorough research and consider multiple factors before forming any trading decisions. Additionally, consulting with financial professionals and keeping up with the latest news can help you make more informed decisions based on the most recent information.
Short
by nikhilbansal
46,740 , an important level to watch for BankniftyA bat formation is in action, and 46,740 is the level where we can see a break, its also a trendline resistance. so 25th Sept is the day when we can see this levels coming.. The Bat formation is a five-point harmonic pattern that can be used to identify potential reversals in price. It was discovered by Scott Carney in 2001 and is based on the Fibonacci retracement levels. The Bat pattern consists of the following five points: X: The start of the pattern. A: A sharp price move in one direction. B: A retracement of the XA leg, typically between 38.2% and 50%. C: A further retracement of the AB leg, typically between 38.2% and 88.6%. D: A price move in the opposite direction of the XA leg, typically reaching the 88.6% retracement of XA. The Bat pattern can be either bullish or bearish, depending on the direction of the XA leg. A bullish Bat pattern is formed when the XA leg is a price rise and the D leg is a price decline. A bearish Bat pattern is formed when the XA leg is a price decline and the D leg is a price rise. To trade the Bat pattern, traders typically look for a breakout from the Potential Reversal Zone (PRZ), which is a zone between the 0.886 retracement of XA and the extended AB=CD pattern. The PRZ is typically the most likely area for a reversal to occur. It is important to note that the Bat pattern is not always successful, and traders should always use other technical indicators and risk management techniques to manage their trades. Here are some tips for trading the Bat pattern: Look for a clear breakout from the PRZ. Use other technical indicators to confirm the reversal. Set a stop loss below the PRZ. Use a trailing stop loss to lock in profits as the trade moves in your favor. The Bat pattern can be a powerful tool for identifying potential reversals in price, but it is important to use it in conjunction with other technical indicators and risk management techniques.
NSE:BANKNIFTY
by yogesharora2409
8
Leveraging Bullish Momentum: Cipla's Breakout Opportunity Introduction: Cipla, a renowned pharmaceutical company, is currently experiencing a bullish momentum, fueled by positive developments such as the recent Blackstone news. This article explores the potential breakout scenario for Cipla, as it approaches the critical resistance level of 1205 and potentially aims for a further surge towards 1238 in the coming days. Analysis: 1. Blackstone News Impact: The recent news involving Blackstone's involvement in Cipla has injected a renewed sense of optimism among investors. The market's positive response to this development indicates growing confidence in Cipla's prospects, possibly pushing the stock to new heights. 2. Technical Breakout at 1205: Cipla's stock has been gradually building momentum, and the 1205 resistance level holds the key to a significant breakout. If Cipla manages to breach this level, it could trigger a wave of buying interest, potentially leading to a substantial price increase. 3. Potential Move to 1238: Once the 1205 resistance is conquered, the next target could be set at 1238. This level represents a potential psychological and technical milestone, where a successful breakthrough may attract further bullish sentiment and drive the stock's price upward. 4. Bullish Momentum Confirmation: To validate the bullish momentum, investors can closely monitor key technical indicators such as Relative Strength Index (RSI), Moving Averages, and Volume patterns. Sustained positive readings across these indicators could signal a stronger case for Cipla's upward movement. 5. Caution and Risk Management: While the bullish outlook is promising, investors should always exercise caution and implement effective risk management strategies. Market volatility, unforeseen developments, or external factors could influence the stock's performance, necessitating prudent decision-making. Conclusion: Cipla's recent bullish momentum, supported by the Blackstone news, presents an exciting breakout opportunity. As the stock eyes the 1205 resistance level and potentially aims for 1238, investors should remain vigilant, monitor technical indicators, and stay updated on market trends. The combination of positive developments and strategic analysis may pave the way for Cipla's continued upward trajectory.
NSE:CIPLALong
by CyborgTradingHub
ACC Technical Analysis: Bullish BreakoutIn this analysis, we will thoroughly examine the technical aspects of ACC's chart, highlighting the bullish breakout of the falling trendline, bounce from the 100-day Simple Moving Average (SMA), and the solid strength shown by the Relative Strength Index (RSI). Additionally, we will take into account the positive fundamental indicators, such as the better-than-expected EBIDTA and PAT figures. Based on these technical and fundamental factors, we will assess the potential buying opportunity for ACC. Let's proceed with the analysis. Chart Analysis: The TradingView chart for ACC reveals several significant technical and fundamental factors that may impact the stock's price action. Breakout of Falling Trendline: ACC has experienced a clear breakout of the falling trendline, signaling a potential shift in the stock's trend from bearish to bullish. The breakout suggests increased buying interest from traders and investors, setting a positive tone for further upside potential. Bounce from 100-day SMA: The stock's price has rebounded from the 100-day Simple Moving Average (SMA), a key technical indicator used to gauge short-term trends. The bounce from the SMA indicates a potential support level, contributing to the bullish sentiment. RSI Strength: The Relative Strength Index (RSI) is showing solid strength, indicating favorable momentum for ACC. A strong RSI suggests that the stock's momentum is in a positive state, supporting the case for potential further upside. Positive Fundamental Developments: In addition to the positive technical signals, ACC's fundamental indicators are also encouraging. The company's EBIDTA came in at ₹770 crore, surpassing the expected ₹550 crore. Similarly, the PAT stood at ₹466 crore, significantly higher than the ₹227 crore reported in the previous year. These robust financial results may attract more investor interest in the stock. Trading Opportunity and Targets: Considering the strong technical and fundamental factors, a buying opportunity is presented for ACC. Traders may consider initiating a long position at the current market price (CMP) of ₹1948. However, it is essential to acknowledge that the suggested stop loss at ₹1751 is relatively deep. Traders should carefully assess their risk tolerance and consider adjusting the stop loss according to their comfort level. For the target, the initial level is set at ₹2364, representing a potential upside target based on the stock's bullish outlook. Conclusion: The technical analysis of ACC's chart, complemented by the positive fundamental indicators, signals a bullish outlook for the stock. The breakout of the falling trendline, bounce from the 100-day SMA, and strong RSI strength indicate potential further upside. Traders may consider entering a long position at the CMP of ₹1948, with a stop loss set at ₹1751 and an initial target of ₹2364. As with any investment decision, caution should be exercised, and it is recommended to conduct thorough research and consult with a financial advisor before making any investment choices. Additionally, traders should closely monitor the stock's price action and consider implementing appropriate risk management strategies.
NSE:ACCLong
by yaashul
Elliott Wave Insights: Shree Renuka Sugar Ltd - Bullish OutlookHello Friends, Welcome to our Elliott Wave analysis and technical indicators overview of Shree Renuka Sugar Ltd (RENUKA). In this analysis, we'll explore the Elliott Wave perspective and how it aligns with various technical indicators to support a bullish sentiment in the stock. Please note that this analysis is for educational purposes only and not financial advice. Let's dive into the details. Completion of Larger Degree impulse wave (1) and then correction wave (2). Based on the Elliott Wave principle, we've witnessed Shree Renuka Sugar Ltd undergo a larger degree wave cycle. The stock completed waves 1-2-3-4-5 as subdivisions of larger degree wave (1). Following that, corrective waves A-B-C formed as subdivisions of larger degree wave (2). This suggests that the corrective phase might be over, potentially heading the way for a new impulse wave. In line with the Elliott Wave structure, there are indications that the stock is entering the initial phase of a fresh impulse wave. If this assumption holds true, it could signal a renewed bullish momentum in the stock's price. possibly we are in the beginning of a fresh Impulse wave may be we are in wave (i) of 1 of (3). Possible Elliott wave structure and counts on daily time frame Adding to the bullish case, stock has experienced a breakout on the daily timeframe. Breakouts signify a decisive breach of a key resistance level, indicating a potential change in trend direction. The accompanying strong trading volumes during the breakout add validity to the move, suggesting a significant market interest. Breakout on daily time frame along with good intensity of Volumes Weekly price closed above 20-Week Moving Average (20WMA) On the weekly timeframe, the stock's price has consistently closed above the 20-week Moving Average (20WMA). This indicates a positive long-term trend and reinforces the potential for further bullish movements. Weekly price closed above 20WMA which is good sign for bulls Daily Price Above Key Moving Averages - 50DEMA, 100DEMA, and 200DEMA On the daily timeframe, stock trading above the 50-day Exponential Moving Average (50DEMA), 100-day Exponential Moving Average (100DEMA), and now has closed above 200-day Exponential Moving Average (200DEMA). The alignment of these moving averages above the stock's price is considered a bullish sign, indicating a strong trend. Daily price closed above 50DEMA, 100DEMA, and 200DEMA which is good sign for bulls MACD positive in daily MACD positive in weekly Conclusion The comprehensive analysis combining Elliott Wave principles with technical indicators supports a prevailing bullish sentiment in Shree Renuka Sugar Ltd. The completion of a larger degree correction and the potential beginning of a fresh impulse wave suggest positive market sentiment. Moreover, the breakout on the daily timeframe and strong volume support reinforce the potential for further bullish movements. However, always remember that no analysis can predict future price movements with certainty, and the market carries inherent risks. While this analysis aims to provide a well-informed perspective, it's essential to acknowledge that the future performance of the stock cannot be guaranteed, and prudent risk management is advisable. 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. Most 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...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RENUKALong
by RK_Chaarts
11
ABFRL - Breakout & Retested NSE:ABFRL Elliott Wave Theory Suggests a New Uptrend Description: ABFRL stock has given a breakout and retested the breakout level. This is a bullish sign and suggests that the stock could be starting a new uptrend. According to the Elliott Wave Theory, if the stock breaks above 217, it could reach 241. A stoploss of 205.45 is recommended. Technical indicators such as RSI, MACD, and Chaikin Money Flow are all bullish. The price is also near the upper Bollinger band and trading above the Supertrend. Here is a more detailed explanation of each technical indicator: RSI (Relative Strength Index): The RSI is a momentum indicator that measures the speed and magnitude of price movements. A reading above 50 indicates that the stock is overbought, while a reading below 50 indicates that the stock is oversold. The RSI for ABFRL stock is currently above 50, which is a bullish sign. MACD (Moving Average Convergence Divergence): The MACD is a trend-following indicator that shows the relationship between two moving averages. A positive MACD reading indicates that the moving averages are converging, which is a bullish sign. The MACD for ABFRL stock is currently positive, which is another bullish sign. Chaikin Money Flow (CMF): The CMF is a volume-based indicator that measures the amount of money flowing into and out of a stock. A reading above 0 indicates that there is more money flowing into the stock than out of it, which is a bullish sign. The CMF for ABFRL stock is currently above 0, which is another bullish sign. Bollinger Bands (Bollinger Bands): Bollinger Bands are a volatility indicator that show the standard deviation of a stock's price over a period of time. The bands are plotted above and below the moving average of the stock's price. When the price moves outside of the bands, it is considered to be a sign of volatility. The price of ABFRL stock is currently near the upper Bollinger band, which is a bullish sign. Supertrend (Supertrend): The Supertrend is a trend-following indicator that uses a combination of moving averages and a volatility indicator to identify trends. The Supertrend for ABFRL stock is currently pointing upwards, which is a bullish sign. Overall, the technical indicators suggest that ABFRL stock is in a bullish trend and could reach 241 if it breaks above 217. However, it is important to remember that technical indicators are not always accurate and should not be used as the sole basis for making investment decisions.
NSE:ABFRLLong
by Ajay7871
xau usd sell. idea Trade Idea: XAU/USD (Gold against the US Dollar) Based on your perspective, you have identified a trade idea for XAU/USD. You are considering selling below 1973.50 with a stop loss at 1977 and a target at 1960. Alternatively, if certain conditions are met, you would consider a short-term buy entry. The rationale for this trade idea includes breaking strong resistance and positive sentiment from nonfarm payroll data. Here's a detailed explanation: 1. Sell Trade: - Entry Strategy: If the price of XAU/USD falls below 1973.50, you may consider entering a short position, selling gold against the US dollar. This trade idea implies a bearish outlook on the XAU/USD pair. - Stop Loss: To manage potential losses, you have set a stop loss at 1977. If the price reaches this level, your trade will be automatically closed, limiting your downside risk. - Target: Your target for this trade is set at 1960. Once the price reaches this level, you may consider exiting the trade and securing your desired profit. Rationale for Sell Trade: XAU/USD pair has the potential to break strong resistance levels, indicating a possible downward movement in price. This analysis could be based on technical indicators, chart patterns, or historical price levels. Additionally, you mention positive sentiment from nonfarm payroll data, which suggests a favorable environment for the US dollar. These factors contribute to your bearish outlook on XAU/USD. 2. Short-Term Buy Entry: mention the possibility of a short-term buy entry, which implies a temporary reversal in price direction. The specific conditions for this entry are not provided in your trade idea. It's important to define clear criteria for this scenario, such as specific price levels, technical indicators, or other factors that signal a potential upward movement. Without these conditions, it's difficult to provide a comprehensive trade idea for the short-term buy entry. Please note that trading involves risks, and this trade idea should be evaluated within the context of your own trading strategy, risk tolerance, and market conditions. It's essential to conduct thorough analysis, consider additional factors such as market trends, economic indicators, and overall market sentiment, and adapt your strategy accordingly.
OANDA:XAUUSDShort
by HUNTSMAN_
vedic cloud & vedic rsi support resistance indicator with FibonVedic Cloud and Vedic RSI Support Resistance Indicator are powerful tools used for technical analysis in the Indian stock market. These indicators are based on ancient Vedic principles and are designed to help traders make better trading decisions. Najoomi Ji, a seasoned trader and expert in Vedic trading techniques, has used these indicators to analyze the Bank Nifty, one of the most widely traded index futures in India. Using Fibonacci retracement levels, Najoomi Ji has identified key support and resistance levels on the Bank Nifty chart. The Vedic Cloud indicator is a trend-following tool that is used to identify the overall direction of the market. It consists of two lines that form a cloud-like pattern on the chart. When the price is above the cloud, it is considered a bullish signal, and when it is below the cloud, it is considered bearish. By analyzing the cloud and the price action, Najoomi Ji has determined that the Bank Nifty is currently in a bullish trend. The Vedic RSI Support Resistance Indicator is a momentum oscillator that measures the strength of the trend. It is based on the Relative Strength Index (RSI) and is designed to identify potential reversal points in the market. Najoomi Ji has used this indicator to identify key support and resistance levels on the Bank Nifty chart. By combining these two indicators with Fibonacci retracement levels, Najoomi Ji has identified important levels to watch on the Bank Nifty chart. These levels can be used to set entry and exit points for trades, as well as to manage risk by placing stop-loss orders. Overall, the Vedic Cloud and Vedic RSI Support Resistance Indicator, along with Fibonacci retracement levels, provide a powerful set of tools for technical analysis in the Indian stock market. With the expertise of Najoomi Ji, traders can use these tools to make better-informed trading decisions and improve their overall profitability
NSE:BANKNIFTYLong
by astroindia
ICICI Bank: Because it's time to make some real moneyICICI Bank Long Buying Recommendation (With a side of humor) Introduction: Welcome to the most fun-filled technical analysis report you'll ever read! This report aims to provide a technical analysis of ICICI Bank stock, and a recommendation for buying the stock in the short term, with a side of humor to keep things light and entertaining. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements, and have a good laugh while doing so. Background: ICICI Bank is an Indian multinational banking and financial services company. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The ICICI Bank stock has been in a range-bound pattern for the past few months, like a roller coaster ride, but recent price action suggests that the stock may be breaking out, like a balloon finally being released. The stock has been trading in a range between 842.25 and 866.75, and a breakout above 866.75 could signal a short-term trend reversal, like a snake breaking out of its cage. The technical indicators are also pointing to a potential buying opportunity, like a sign from the universe. The Relative Strength Index (RSI) has been trending higher, like a rocket taking off, and is currently at oversold levels, indicating that the market is oversold and may be due for a rebound, like a trampoline. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed above the zero line, like a finish line, suggesting that the trend is gaining momentum, like a snowball rolling down a hill. Furthermore, price action on the chart shows that the stock has reached a strong support level, like a safety net, and is showing signs of a potential reversal, like a U-turn, with bullish cand formation, like a smiley face. Recommendation: Based on the analysis above, we recommend buying ICICI Bank stock if it breaks 866.75 levels, with a stop loss of 842.25 and a target 1 of 891.25 and target 2 of 943.25. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market rebounds, like a boomerang. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable, like a weather forecast. Therefore, it's recommended to keep a close eye on the price action, like a hawk, and use stop loss and take-profit levels to minimize risk and maximize returns, like a superhero. It's important to conduct your own research and analysis before making any investment decisions, like a detective, and always consult a financial advisor before taking any action, like a lawyer. Conclusion: In conclusion, ICICI Bank stock appears to be breaking out of a range-bound pattern, like a prison break, and may be due for a short-term rebound, like a bouncing ball. Technical indicators and price action on the chart also suggest a potential trend reversal, like a mind change. Therefore, buying ICICI Bank stock if it breaks 866.75 levels with a stop loss of 842.25 and a target 1 of 891.25 and target 2 of 943.25 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term, like a time machine.
NSE:ICICIBANKLong
by EntryandExit
Nifty Index Reaching Resistance - Time to Short SellThis report aims to provide a technical analysis of the Nifty index and a recommendation for short selling the index in the short term. The analysis is based on the latest charts and indicators and is intended for investors and traders who are looking to capitalize on market movements. Background: The Nifty index is a stock market index that represents the performance of the 50 largest companies listed on the National Stock Exchange of India (NSE). Analysis: The Nifty index has been in an uptrend for the past few months, but recent price action suggests that the index may be reaching a resistance level. The index has been trading around 18132 levels, and a breakdown below this level could signal a short-term trend reversal. The technical indicators are also pointing to a potential short selling opportunity. The Relative Strength Index (RSI) has been trending lower, and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed below the zero line, suggesting that the trend is losing momentum. Furthermore, price action on the chart shows that the index has reached a resistance level and is showing signs of a potential reversal with bearish cand formation. Recommendation: Based on the analysis above, we recommend short selling the Nifty index if it breaks down 18132 levels, with a stop loss of 18208.80. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. The target 1 is 17976.35 and target 2 is 17824.35. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions and always consult a financial advisor before taking any action. Conclusion: In conclusion, the Nifty index appears to be reaching a resistance level, and technical indicators suggest a potential short-term trend reversal. Therefore, short selling the Nifty index if it breaks down 18132 levels with a stop loss of 18208.80 and target 1 of 17976.35 and target 2 of 17824.35 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:NIFTYShort
by EntryandExit
2
NYKAA Stock: Short Selling with Time frameNYKAA Short Selling Recommendation Introduction: This report aims to provide a technical analysis of the NYKAA stock and a recommendation for short selling the stock in the short term, with time frame of 30th Jan 2023. The analysis is based on the latest charts and indicators and is intended for investors and traders who are looking to capitalize on market movements. Background: NYKAA is an Indian e-commerce company that sells beauty and personal care products. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The NYKAA stock has been in a downtrend for the past few months, but recent price action suggests that the stock may be reaching a support level. The stock has been trading around 133.75 levels, and a breakdown below this level could signal a short-term trend reversal. The technical indicators are also pointing to a potential short selling opportunity. The Relative Strength Index (RSI) has been trending lower, and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed below the zero line, suggesting that the trend is losing momentum. Furthermore, price action on the chart shows that the stock has reached a support level and is showing signs of a potential reversal with bearish cand formation. Recommendation: Based on the analysis above, we recommend short selling the NYKAA stock if it breaks down 133.75 levels, with a stop loss of 136.95. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. The target 1 is 130.55 and target 2 is 128.50 with time frame of 30th Jan 2023. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions and always consult a financial advisor before taking any action. Conclusion: In conclusion, the NYKAA stock appears to be reaching a support level, and technical indicators suggest a potential short-term trend reversal. Therefore, short selling the NYKAA stock if it breaks down 133.75 levels with a stop loss of 136.95 and target 1 of 130.55 and target 2 of 128.50 with time frame of 30th Jan 2023 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:NYKAAShort
by EntryandExit
Zeel Stock: Buying StrategyZeel Long Buying Recommendation (with a fun twist) Introduction: Welcome to the most entertaining technical analysis report you'll ever read! This report aims to provide a technical analysis of Zeel stock, and a recommendation for buying the stock in the short term, all while making it fun and easy to understand. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements, and want to have a good laugh while doing so. Background: Zeel is an Indian Media and Entertainment company. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The Zeel stock has been in a range-bound pattern for the past few months, like a game of hide and seek, but recent price action suggests that the stock may be breaking out, like a cork from a bottle. The stock has been trading in a range between 220 and 223.70, and a breakout above 223.70 could signal a short-term trend reversal, like a snake breaking out of its cage. The technical indicators are also pointing to a potential buying opportunity, like a lucky coin. The Relative Strength Index ( RSI ) has been trending higher, like a rocket taking off, and is currently at oversold levels, indicating that the market is oversold and may be due for a rebound, like a trampoline. Additionally, the Moving Average Convergence Divergence ( MACD ) histogram has crossed above the zero line, like a finish line, suggesting that the trend is gaining momentum, like a snowball rolling down a hill . Furthermore, price action on the chart shows that the stock has reached a strong support level , like a safety net, and is showing signs of a potential reversal, like a U-turn , with bullish cand formation, like a smiley face. Recommendation: Based on the analysis above, we recommend buying Zeel stock if it crosses 223.70 levels, with a stop loss of 220 and a target 1 of 227.35 and target 2 of 230.50. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market rebounds, like a boomerang. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable, like a weather forecast. Therefore, it's recommended to keep a close eye on the price action, like a hawk, and use stop loss and take-profit levels to minimize risk and maximize returns, like a superhero. It's important to conduct your own research and analysis before making any investment decisions, like a detective, and always consult a financial advisor before taking any action, like a lawyer. Conclusion: In conclusion, Zeel stock appears to be breaking out of a range-bound pattern, like a prison break, and may be due for a short-term rebound, like a bouncing ball. Technical indicators and price action on the chart also suggest a potential trend reversal, like a mind change. Therefore, buying Zeel stock if it crosses 223.70 levels with a stop loss of 220 and a target 1 of 227.35 and target 2 of 230.50 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term, like a time machine. Don't miss out on our latest market analysis and recommendations!
NSE:ZEELLong
by EntryandExit
TCS Stock Reaching Resistance - Time to Short SellTCS Short Selling Recommendation Introduction: This report aims to provide a technical analysis of the TCS stock and a recommendation for short selling the stock in the short term. The analysis is based on the latest charts and indicators and is intended for investors and traders who are looking to capitalize on market movements. Background: TCS is an Indian multinational information technology services and consulting company that is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The TCS stock has been in an uptrend for the past few months, but recent price action suggests that the stock may be reaching a resistance level. The stock has been trading around 3423.10 levels, and a breakdown above this level could signal a short-term trend reversal. The technical indicators are also pointing to a potential short selling opportunity. The Relative Strength Index (RSI) has been trending higher, and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed above the zero line, suggesting that the trend is losing momentum. Furthermore, price action on the chart shows that the stock has reached a resistance level and is showing signs of a potential reversal with bearish cand formation. Recommendation: Based on the analysis above, we recommend short selling the TCS stock if it breaks above 3423.10 levels, with a stop loss of 3469.25. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. The target 1 is 3377.00 and target 2 is 3337.30. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions and always consult a financial advisor before taking any action. Conclusion: In conclusion, the TCS stock appears to be reaching a resistance level, and technical indicators suggest a potential short-term trend reversal. Therefore, short selling the TCS stock if it breaks above 3423.10 levels with a stop loss of 3469.25 and target 1 of 3377.00 and target 2 of 3337.30 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:TCSShort
by EntryandExit
METROPOLIS: The Stock That's Breaking Out of the BoxWelcome to the most entertaining technical analysis report you'll ever read! This report aims to provide a technical analysis of METROPOLIS stock, and a recommendation for buying the stock in the short term, all while making it fun and easy to understand. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements, and want to have a good laugh while doing so. Background: METROPOLIS is an Indian diagnostic services company. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The METROPOLIS stock has been in a range-bound pattern for the past few months, like a game of ping-pong, but recent price action suggests that the stock may be breaking out, like a balloon finally being released. The stock has been trading in a range between 1267.60 and 1311.30, and a breakout above 1311.30 could signal a short-term trend reversal, like a snake breaking out of its cage. The technical indicators are also pointing to a potential buying opportunity, like a sign from the universe. The Relative Strength Index ( RSI ) has been trending higher, like a rocket taking off, and is currently at oversold levels, indicating that the market is oversold and may be due for a rebound, like a trampoline. Additionally, the Moving Average Convergence Divergence ( MACD ) histogram has crossed above the zero line, like a finish line, suggesting that the trend is gaining momentum, like a snowball rolling down a hill . Furthermore, price action on the chart shows that the stock has reached a strong support level , like a safety net, and is showing signs of a potential reversal, like a U-turn , with bullish cand formation, like a smiley face. Recommendation: Based on the analysis above, we recommend buying METROPOLIS stock if it breaks 1311.30 levels, with a stop loss of 1267.60 and a target 1 of 1355 and target 2 of 1389.95. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market rebounds, like a boomerang. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable, like a weather forecast. Therefore, it's recommended to keep a close eye on the price action, like a hawk, and use stop loss and take-profit levels to minimize risk and maximize returns, like a superhero. It's important to conduct your own research and analysis before making any investment decisions, like a detective, and always consult a financial advisor before taking any action, like a lawyer. Conclusion: In conclusion, METROPOLIS stock appears to be breaking out of a range-bound pattern, like a prison break, and may be due for a short-term rebound, like a bouncing ball. Technical indicators and price action on the chart also suggest a potential trend reversal, like a mind change. Therefore, buying METROPOLIS stock if it breaks 1311.30 levels with a stop loss of 1267.60 and a target 1 of 1355 and target 2 of 1389.95 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term, like a time machine.
NSE:METROPOLISLong
by EntryandExit
M_M Stock Reaching Resistance - Time to Sell M_M Short Selling Recommendation Introduction: This report aims to provide a technical analysis of M_M stock and a recommendation for short selling the stock in the short term. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements. Background: M_M is an Indian multinational conglomerate company. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The M_M stock has been in a strong uptrend for the past few months, but recent price action suggests that the stock may be reaching a resistance level . The stock has been trading in a range between 1314.10 and 1343.70, and a breakdown below 1314.10 could signal a short-term trend reversal. The technical indicators are also pointing to a potential sell-off. The Relative Strength Index ( RSI ) has been trending lower and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence ( MACD ) histogram has crossed below the zero line, suggesting that the trend is losing momentum. Furthermore, price action on the chart shows that the stock has reached a strong resistance level and is showing signs of a potential reversal, with bearish cand formation Recommendation: Based on the analysis above, we recommend short selling M_M stock if it breaks 1314.10 levels, with a stop loss of 1343.70 and a target 1 of 1284.50 and target 2 of 1271.00. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions and always consult a financial advisor before taking any action. Conclusion: In conclusion, M_M stock appears to be reaching a resistance level , and technical indicators suggest a potential short-term trend reversal. Therefore, short selling M_M stock if it breaks 1314.10 levels with a stop loss of 1343.70 and a target 1 of 1284.50 and target 2 of 1271.00 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:M&MShort
by EntryandExit