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Hindustan Petrol on the Verge of a Breakout: Time to BuyHindustan Petrol Buying Recommendation Introduction: This report aims to provide a technical analysis of Hindustan Petrol stock and a recommendation for buying 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: Hindustan Petroleum Corporation Limited (HPCL) is an Indian state-owned oil and natural gas 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 Hindustan Petrol stock has been in a range-bound pattern for the past few months, but recent price action suggests that the stock may be breaking out. The stock has been trading in a range between 240 and 246.20, and a breakout above 246.20 could signal a short-term trend reversal. The technical indicators are also pointing to a potential buying opportunity. The Relative Strength Index (RSI) has been trending higher and is currently at oversold levels, indicating that the market is oversold and may be due for a rebound. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed above the zero line, suggesting that the trend is gaining momentum. Furthermore, price action on the chart shows that the stock has reached a strong support level and is showing signs of a potential reversal, with bullish cand formation. Recommendation: Based on the analysis above, we recommend buying Hindustan Petrol stock if it breaks 246.20 levels, with a stop loss of 240 and a target 1 of 246.20 and target 2 of 252.90. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market rebounds. 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. The time frame for this analysis is 23rd January 2023, and 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, Hindustan Petrol stock appears to be breaking out of a range-bound pattern and may be due for a short-term rebound. Technical indicators and price action on the chart also suggest a potential trend reversal. Therefore, buying Hindustan Petrol stock if it breaks 246.20 levels with a stop loss of 240 and a target 1 of 246.20 and target 2 of 252.90 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:HINDPETROLong
by EntryandExit
Canara Bank Short Selling: A Risky but Rewarding StrategyThis report aims to provide a technical analysis of Canara Bank 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: Canara Bank is an Indian state-owned bank. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The Canara Bank 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 311 and 349.15, and a breakdown below 311 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 Canara Bank stock if it breaks 311 levels, with a stop loss of 349.15 and a target 1 of 272.80 and target 2 of 257.65. 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, Canara Bank stock appears to be reaching a resistance level and may be due for a short-term pullback. Technical indicators and price action on the chart also suggest a potential trend reversal. Therefore, short selling Canara Bank stock if it breaks 311 levels with a stop loss of 349.15 and a target 1 of 272.80 and target 2 of 257.65 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:CANBKShort
by EntryandExit
TRENT Long Buying: A Smart Move According to Technical AnalysisThis report aims to provide a technical analysis of TRENT stock and a recommendation for buying 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: Trent Limited is an Indian retail and lifestyle 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 TRENT stock has been in a range-bound pattern for the past few months, but recent price action suggests that the stock may be breaking out. The stock has been trading in a range between 1155.70 and 1224, and a breakout above 1224 could signal a short-term trend reversal. The technical indicators are also pointing to a potential buying opportunity. The Relative Strength Index (RSI) has been trending higher and is currently at oversold levels, indicating that the market is oversold and may be due for a rebound. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed above the zero line, suggesting that the trend is gaining momentum. Furthermore, price action on the chart shows that the stock has reached a strong support level and is showing signs of a potential reversal, with bullish cand formation. Recommendation: Based on the analysis above, we recommend buying TRENT stock if it breaks 1224 levels, with a stop loss of 1155.70 and a target 1 of 1283 and target 2 of 1358.70. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market rebounds. 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, TRENT stock appears to be breaking out of a range-bound pattern and may be due for a short-term rebound. Technical indicators and price action on the chart also suggest a potential trend reversal. Therefore, buying TRENT stock if it breaks 1224 levels with a stop loss of 1155.70 and a target 1 of 1283 and target 2 of 1358.70 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:TRENTLong
by EntryandExit
CANARA BANK bearish #Elliot_HarishRao CANARA BANK --> Elongated Flat CORRECTION Wave formations: Wave (A,B,C) denoted circle black colour Wave A ==> inner wave (a,b,c) Wave b ==> inner wave (a,b,c) Wave c ==> inner wave (1,2,3,4,5) Rules and objectives Elongated Flat: If the c-wave is more than 138.2% of wave- b, the market is forming an Elongated Flat The Elliott Wave Principle, or Elliott wave theory, is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology and price levels, such as highs and lows, by looking for patterns in prices. Ralph Nelson Elliott (1871–1948), an American accountant, developed a model for the underlying social principles of financial markets by studying their price movements, and developed a set of analytical tools in the 1930s. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves, or simply waves. Elliott published his theory of market behavior in the book The Wave Principle in 1938, summarized it in a series of articles in Financial World magazine in 1939, and covered it most comprehensively in his final major work, Nature's Laws: The Secret of the Universe in 1946. Elliott stated that "because man is subject to rhythmical procedure, calculations having to do with his activities can be projected far into the future with a justification and certainty heretofore unattainable." he Elliott Wave Principle states that markets grow from small price movements by linking Elliot wave patterns to form larger five-wave and three-wave structures that exhibit self-similarity, applicable on all timescales. Each level of such timescales is called the degree of the wave, or price pattern. Each degree of waves consists of one full cycle of motive and corrective waves. Waves 1, 3, and 5 of each cycle are motive in character, while waves 2 and 4 are corrective. The majority of motive waves assure forward progress in the direction of the prevailing trend, in bull or bear markets, but yielding an overall principle of growth of a market. The overall movement of a wave one degree higher is upward in a bullish trend. After the initial five waves forward and three waves of correction, the sequence is repeated on a larger degree and the self-similar fractal geometry continues to unfold. The completed motive pattern comprises 89 waves, followed by a completed corrective pattern of 55 waves. Each degree of a pattern in a financial market has a name. Practitioners use symbols for each wave to indicate both function and degree. Numbers are used for motive waves, and letters for corrective waves (shown in the highest of the three idealized series of wave structures or degrees). Degrees are not strictly defined by absolute size or duration, by form. Waves of the same degree may be of very different size or duration. While exact time spans may vary, the customary order of degrees is reflected in the following sequence: Grand supercycle: multi-century Supercycle: multi-decade (about 40–70 years) Cycle: one year to several years, or even several decades under an Elliott Extension Primary: a few months to two years Intermediate: weeks to months Minor: weeks Minute: days Minuette: hours Subminuette: minutes Some analysts specify additional smaller and larger degrees. Wave personality and characteristics Elliott wave analysts (or Elliotticians) hold that each individual wave has its own signature or characteristic, which typically reflects the psychology of the moment. Understanding those personalities is key to the application of the Wave Principle; they are defined below. (Definitions assume a bull market in equities; the characteristics apply in reverse in bear markets.) Five wave pattern (dominant trend) Three wave pattern (corrective trend) Wave 1: Wave one is rarely obvious at its inception. When the first wave of a new bull market begins, the fundamental news is almost universally negative. The previous trend is considered still strongly in force. Fundamental analysts continue to revise their earnings estimates lower; the economy probably does not look strong. Sentiment surveys are decidedly bearish, put options are in vogue, and implied volatility in the options market is high. Volume might increase a bit as prices rise, but not by enough to alert many technical analysts. Wave A: Corrections are typically harder to identify than impulse moves. In wave A of a bear market, the fundamental news is usually still positive. Most analysts see the drop as a correction in a still-active bull market. Some technical indicators that accompany wave A include increased volume, rising implied volatility in the options markets and possibly a turn higher in open interest in related futures markets. Wave 2: Wave two corrects wave one, but can never extend beyond the starting point of wave one. Typically, the news is still bad. As prices retest the prior low, bearish sentiment quickly builds, and "the crowd" haughtily reminds all that the bear market is still deeply ensconced. Still, some positive signs appear for those who are looking: volume should be lower during wave two than during wave one, prices usually do not retrace more than 61.8% of the wave one gains, and prices should fall in a three wave pattern. Wave B: Prices reverse higher, which many see as a resumption of the now long-gone bull market. Those familiar with classical technical analysis may see the peak as the right shoulder of a head and shoulders reversal pattern. The volume during wave B should be lower than in wave A. By this point, fundamentals are probably no longer improving, but they most likely have not yet turned negative. Wave 3: Wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest). The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to "get in on a pullback" will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three's midpoint, "the crowd" will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1. Wave C: Prices move impulsively lower in five waves. Volume picks up, and by the third leg of wave C, almost everyone realizes that a bear market is firmly entrenched. Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond. Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three (see Fibonacci relationships below). Volume is well below that of wave three. This is a good place to buy a pullback if you understand the potential ahead for wave 5. Still, fourth waves are often frustrating because of their lack of progress in the larger trend. Wave 5: Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is often lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high but the indicators do not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received). Pattern recognition and fractals Elliott's market model relies heavily on looking at price charts. Practitioners study developing trends to distinguish the waves and wave structures, and discern what prices may do next; thus the application of the Wave Principle is a form of pattern recognition. The structures Elliott described meet the common definition of a fractal (self-similar patterns appearing at every degree of trend). Elliott wave practitioners argue that just as naturally occurring fractals often expand and grow more complex over time, the model shows that collective human psychology develops in natural patterns, via buying and selling decisions reflected in market prices: "It's as though we are somehow programmed by mathematics. Seashell, galaxy, snowflake or human: we're all bound by the same order." Critics, however, argue it is a form of pareidolia. Wave rules and guidelines A correct Elliott wave count must observe three rules: Wave 2 never retraces more than 100% of wave 1. Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5. Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation. A common guideline called "alternation" observes that in a five-wave pattern, waves 2 and 4 often take alternate forms; a simple sharp move in wave 2, for example, suggests a complex mild move in wave 4. Alternation can occur in impulsive and corrective waves. Elliott observed that alternate waves of the same degree must be distinctive and unique in price, time, severity, and construction. All formations can guide influences on market action. The time period covered by each formation, however, is the major deciding factor in the full manifestation of the Rule of Alternation. A sharp counter-trend correction in wave 2 covers a short distance in horizontal units. This should produce a sideways counter-trend correction in wave 4, covering a longer distance in horizontal units, and vice versa. Alternation provides analysts a notice of what not to expect when analyzing wave formations. Corrective wave patterns unfold in forms known as zigzags, flats, or triangles. In turn these corrective patterns can come together to form more complex corrections. Similarly, a triangular corrective pattern is formed usually in wave 4, but very rarely in wave 2, and is the indication of the end of a correction. Fibonacci relationships R. N. Elliott's analysis of the mathematical properties of waves and patterns eventually led him to conclude that "The Fibonacci Summation Series is the basis of The Wave Principle". Numbers from the Fibonacci sequence surface repeatedly in Elliott wave structures, including motive waves (1, 3, 5), a single full cycle (8 waves), and the completed motive (89 waves) and corrective (55 waves) patterns. Elliott developed his market model before he realized that it reflects the Fibonacci sequence. "When I discovered The Wave Principle action of market trends, I had never heard of either the Fibonacci Series or the Pythagorean Diagram". The Fibonacci sequence is also closely connected to the Golden ratio (1.618). Practitioners commonly use this ratio and related ratios to establish support and resistance levels for market waves, namely the price points which help define the parameters of a trend. See Fibonacci retracement. Finance professor Roy Batchelor and researcher Richard Ramyar, a former Director of the United Kingdom Society of Technical Analysts and formerly Global Head of Research at Lipper and Thomson Reuters Wealth Management, studied whether Fibonacci ratios appear non-randomly in the stock market, as Elliott's model predicts. The researchers said the "idea that prices retrace to a Fibonacci ratio or round fraction of the previous trend clearly lacks any scientific rationale". They also said "there is no significant difference between the frequencies with which price and time ratios occur in cycles in the Dow Jones Industrial Average, and frequencies which we would expect to occur at random in such a time series". Robert Prechter replied to the Batchelor–Ramyar study, saying that it "does not challenge the validity of any aspect of the Wave Principle...it supports wave theorists' observations", and that because the authors had examined ratios between prices achieved in filtered trends rather than Elliott waves, "their method does not address actual claims by wave theorists". Prechter also claimed through the Socionomics Institute, of which he is the executive director, that data in the Batchelor–Ramyar study show "Fibonacci ratios do occur more often in the stock market than would be expected in a random environment". Extracted from the same relationship between Elliott Waves and Fibonacci ratio, a 78.6% retracement level is identified as the best place for buying or selling (in continuation to the larger trend) as it increases the risk to reward ratio up to 1:3. It has been suggested that Fibonacci relationships are not the only irrational number based relationships evident in waves. After Elliott Following Elliott's death in 1948, other market technicians and financial professionals continued to use the Wave Principle and provide forecasts to investors. Charles Collins, who had published Elliott's "Wave Principle" and helped introduce Elliott's theory to Wall Street, ranked Elliott's contributions to technical analysis on a level with Charles Dow. Hamilton Bolton, founder of The Bank Credit Analyst, also known as BCA Research Inc., provided wave analysis to a wide readership in the 1950s and 1960s through a number of annual supplements of market commentary. He also authored the book "The Elliott Wave Principle of Stock Market Behavior". Bolton introduced the Elliott Wave Principle to A.J. Frost (1908-1999), who provided weekly financial commentary on the Financial News Network in the 1980s. Over the course of his lifetime Frost's contributions to the field were of great significance and today the Canadian Society of Technical Analysts awards the A.J. Frost Memorial Award to someone each year who has also made a significant contribution to the field of technical analysis. The first A.J. Frost Memorial Award was awarded to Robert Prechter in 1999, with whom Frost co-authored the Elliott Wave Principle in 1978. Adoption and use Robert Prechter found Elliott's work while working as a market technician at Merrill Lynch. His prominence as a forecaster during the bull market of the 1980s brought wide exposure to Elliott's work. Prechter remains the most widely known Elliott analyst. Among market technicians, wave analysis is widely accepted as a component of trade. The Elliott Wave Principle is among the methods included in the exam that analysts must pass to earn the Chartered Market Technician (CMT) designation, a professional accreditation developed by the CMT Association. Robin Wilkin, Ex-Global Head of FX and Commodity Technical Strategy at JPMorgan Chase, says "the Elliott Wave Principle ... provides a probability framework as to when to enter a particular market and where to get out, whether for a profit or a loss." Jordan Kotick, Global Head of Technical Strategy at Barclays Capital and past President of the Market Technicians Association, has said that R. N. Elliott's "discovery was well ahead of its time. In fact, over the last decade or two, many prominent academics have embraced Elliott's idea and have been aggressively advocating the existence of financial market fractals." One such academic is the physicist Didier Sornette, professor at ETH Zurich. In a paper he co-authored in 1996 ("Stock Market Crashes, Precursors and Replicas") Sornette stated, It is intriguing that the log-periodic structures documented here bear some similarity with the "Elliott waves" of technical analysis ... A lot of effort has been developed in finance both by academic and trading institutions and more recently by physicists (using some of their statistical tools developed to deal with complex times series) to analyze past data to get information on the future. The 'Elliott wave' technique is probably the most famous in this field. We speculate that the "Elliott waves", so strongly rooted in the financial analysts' folklore, could be a signature of an underlying critical structure of the stock market. Technical Analysis of Stock Trends and The Elliott Wave Theorist both give very specific and systematic ways to approach developing great reward/risk ratios for entering into a business contract with the marketplace, which is what every trader should be if properly and thoughtfully executed. Glenn Neely, financial market analyst and author of the book Mastering Elliott Wave , studied the Elliott Wave Principle for years and used it to develop a forecasting method by expanding on the concepts Elliott created in the 1930s. Researchers at the Technical University of Crete found that using a neuro-fuzzy system based on the Elliott wave principle delivered returns between 9.14% and 39.05% higher than a buy-and-hold strategy when using a hypothetical 10,000 € portfolio. Criticism Benoit Mandelbrot, who developed mathematical models of market pricing based on fractal geometry, expressed caution about the validity of wave models: But Wave prediction is a very uncertain business. It is an art to which the subjective judgment of the chartists matters more than the objective, replicable verdict of the numbers. The record of this, as of most technical analysis, is at best mixed. Robert Prechter had previously stated that ideas in an article by Mandelbrot "originated with Ralph Nelson Elliott, who put them forth more comprehensively and more accurately with respect to real-world markets in his 1938 book The Wave Principle." Critics warn the Wave Principle is too vague to be useful since practitioners cannot consistently identify the beginning or end of waves, resulting in forecasts prone to subjective revisions. Technical analyst David Aronson wrote: The Elliott Wave Principle, as popularly practiced, is not a legitimate theory, but a story, and a compelling one that is eloquently told by Robert Prechter. The account is especially persuasive because EWP has the seemingly remarkable ability to fit any segment of market history down to its most minute fluctuations. I contend this is made possible by the method's loosely defined rules and the ability to postulate a large number of nested waves of varying magnitude. This gives the Elliott analyst the same freedom and flexibility that allowed pre-Copernican astronomers to explain all observed planet movements even though their underlying theory of an Earth-centered universe was wrong. Some analysts consider the Elliott Wave Principle as too dated to be applicable in today's markets, as explained by market analyst Glenn Neely: Elliott wave was an incredible discovery for its time. But, as technologies, governments, economies, and social systems have changed, the behavior of people has also. These changes have affected the wave patterns R.N. Elliott discovered. Consequently, strict application of orthodox Elliott wave concepts to current day markets skews forecasting accuracy. Markets have evolved, but Elliott has not. See also
NSE:CANBK
by HARISHRAO99
NIFTY OUTLOOK This week - 21/12/2021 to 24/12/2021Nifty Daily chart shows technical outlook how trade can be on this week. Firstly using technical indicators we will see what will be downside and upside targets of nifty this coming sessions, Technical indicators 1. Death cross of moving avg seen at 17950-18000 odd level, from there nifty fall at 16800 level, then take support & bounce back to 17500 odd level, rite now nifty 16985 level at closing last week after sharp correction. 2. Nifty bellow 20, 50,100, days moving avg at closing on last trading session. 3. Flag pattern clearly shown on daily chart now. whereas downside candle at circle shows strong support at 16800 level breaking this support nifty further fall at 16500 level next week. upside above 17050 closing nifty can hit target 17200-17500 level . 4. at present market run by negative sentiments due to global omicron fear. so more then fundamental and technicians, omicron fear will rule the Market, but at same time how global market react to that fear our market too react same manner . Other technical indicators . * RSI (14) = 38.6 * MACD (12,26,9) = -133 bellow center bearish. * MA ADX - red bearish HAPPY TRADING. !!
NSE:NIFTY
by champtrade111
2
Unit_of_Technical_Analysis: Chapter 2: Bear Cycle: how to identiUnit_of_Technical_Analysis: Chapter 2: Bear Cycle: how to identify prior phase, the Bear Cycle, End of Bear Cycle. How to trade the Bear cycle. Tools used: 1. Fibonacci 2. Relative Strength Index (RSI) (36) 3. Moving Average Convergence Divergence (MACD) (18,36,9) 4. Moving Average (MA) (36) Time Frame: Daily Method: 1. Bearish Divergence & Rising Wedge for identification of downtrend along with Fibonacci 2. Bullish Divergence for Uptrend along with Fibonacci + Trendline Breakout Cycles within the Cycles: 1. Phase 1: Bearish Divergence Dates: 15/10/07 – 08/01/08: Pre-Phase of Bear Cycle (marked with red vertical lines) We continue with our Bull trend, and identify Bearish divergence in Daily Chart. On 15/10/07 RSI(36) is 73.11 while on 08/01/08 RSI(36) is 63.49, over a period of this 75 days, we identify a huge drop in RSI (drop of around 10 points in terms of units), while the price is still creating Higher Highs (HH) & Higher Lows (HL) patterns these difference of Price moving upwards while Indicators moving in downward direction is called as Bearish Divergence. (Marked with Red arrows in chart) Rising Wedge: The price typically follows a pattern where it is moving upwards but with small and limited highs then the previous ones, the length of the swings are reduced which can be identified from the rising wedge. (Rising Wedge: an inclined line less than 45degree, where the price touches the topline of the wedge and moves down again) These Indicators/ Oscillators always gives us Signals, while we can start getting confirmation from Fibonacci retracement, where price starts creating Lower High (LH) & Lower Lows (LL) after the 2nd Range formation (check 2nd Fibo with low of 4448.5 on 22/01/08 and ATH of 6357.1 on 8/1/08), we get a 50% retracement. The best part is to terminate your long calls if we don’t move above these 50% retracement. There are other methods too like trailing your SL to previous Lows, or Fibonacci retracements. Even the 1st Fibo can be used for these purposes but is very difficult to catch at times. Bearish Divergence in Daily charts are strong and should be taken very seriously, if we are in long calls we should keep on trailing our SL to previous low/ trail SL after the low or wait for completion of Range, trail your SL to low, and trail SL to 0.5 level or 0.236 level of range thereafter. Idea is to keep maximum profits in your pocket and get ourselves prepared for the Bear Trend. 2. Phase 2: Bear Phase Dates: 8/01/08 – 27/10/08: The Bear Cycle: During the Bear Cycle, Price, RSI & MACD are moving in same downward direction, i.e. with every downward movement in price, RSI & MACD are also moving down. We can see continues Lower High (LH), Lower Low (LL) patterns in the Bear Market. The confirmation of getting into Long Bear sell signal is important. Signal: RSI & MACD are moving in downward direction in tandem with Price after the All the Time (ATH) Confirmation to get into short selling for Bear Trend: The best part is to get into selling streak in short selling is when we don’t move above the 50% retracement in Daily. We apply the same method as seen in Chapter 1, we draw a range from High of 6357.1 (Level 0) on 8/1/08 to Low of 4448.5 (Level 1) on 22/01/08 and wait for a retracement upto or just above the 0.5 level or range, we can get into smaller time frame and look for intraday/15 minutes price action where we get a signal on Fibonacci for an Entry or get an Entry once the market starts moving below 0.5 level (on 6/2/08, it started moving down) with small SL. (We will work on detailing again in coming Chapters) On 4/2/08, market gave a strong breakaout above 0.5 levels, next day i.e. 5/2/08, it created a support (read as low of the day) at 0.5 level and closed above it, also the candle pattern created was evening Star. On 6/2/08, finally Market moved below 0.5 level with a big red candle and continued its downward Journey. (It always very important to watch out for these 50% retracement levels which act as turning point in the market and where maximum changes of loosing money occurs because we are not sure for the direction) Many a times, market gives a false breakout around 0.5 levels, takes up the top of previous candles and then starts moving down. Example Check market range from High of 19/10/21 to Low of 29/10/21 followed by 50% level retracement from 8/11/21 to 16/11/21. Here on last 2 days, the market breaks the Top or previous 3-4 days, is not able to sustain and then starts moving downward again. (There are numerous such examples) (We may have to try once or twice for a good entry but don’t over trade) Continuation of downtrend The downtrend is continued by forming new Lower Highs (LH) and Lower lows (LL), here the trendline can be broken to form a new trendline. (Lets have a small glimpse of trendline study) Trendline: From the market high to next high of 50% retracement level (2/5/08), the line joining these 2 points will be your 1st trendline, please remember, there can be slight change in trendline or formation of new trendline after a period of time, check with RSI & MACD for confirmation of reversals. The trendline breakout is generally followed by a back-testing (after breakout with good bullish candle/s) and again breaking the 50% high, if the 50% high is not broken, it is a false breakout (It may form a double top too), here we had 3 similar examples of new trendline formation: a. 27/2/08 high, followed by back testing and upmove to 2/5/08 high b. 2/5/08 high, again followed by back testing and upmove to 12/08/08 high c. 12/08/08 high, back testing and upmove, we had a new high, but these high didn’t break above the 50% high on 4/2/08 or 2/5/08, we had a breakout, back-testing (28/8/08) and again the previous high of 12/8/08 was not broken and market started moving down again. (That’s how the fight between Bulls & Bears goes on) subsequently we keep on creating Lower High (LH), Lower Low (LL) pattern and the downtrend continues. Important thing, is to look for patterns creating an uptrend, followed by Bullish Divergence and most important Price moving and sustaining above 50% level. If price doesn’t sustain the 50% level, we are in reversal. These is the most important aspect that we saw in Chapter 1, where Bull Cycle follows a pattern of creating a Range from Low (0) to High (1) and Price taking a support at 50% levels (0.5 level of the range) or 0.236 level of the range. Finally, we see a low on 27/10/08 for a time period of 9.5 months 3. Phase 3: Bullish Divergence/ Accumulation stage Even if we can make out from the chart later on that, the price was the lowest on 27/10/08 of 2252.75, the real test is studying the market after 27/10/08 and finding out when we can expect a reversal and catch the reversal during the time period. After the market has completed a downtrend, that marks the end of Bear Phase. The Bull phase is yet to start, before that, there is accumulation phase, which is marked by a range bound price movement and rise in RSI & MACD values. Consider Range of, Level 0, Low of 2252.75 on 27/10/08 and Level 1, High of 3240.55 on 5/11/08, the Idea to find out a range is again the most important part, tap for potential reversal around 0.236/ 0.5 level. Dates: 27/10/08 – 06/03/09: End of Bear Cycle and Pre-Phase of Bull Cycle (marked with red vertical lines) We continue with our Bear trend, and identify Bullish divergence in Daily Chart. On 27/10/08 RSI(36) is 30.0 while on 06/03/09 RSI(36) is 42.88, on 05/03/09, RSI(36) is 41.65, and 09/03/09 RSI(36) is 41.9. (I have considered RSI(36) for 3 consecutive days just for the sake of average) over a period of this 130 days, we identify a huge rise in RSI (rise of average 12 points in terms of units), while the price is still range bound and touched the 0.236 level (2485.85) of the range twice, once on 20/11/08 when RSI (36) was 36.25 and second on 06/03/09 creating Higher Highs (HH) & Higher Lows (HL) patterns these difference of Price being range bound while Indicators moving in upward direction is called as Bullish Divergence. (Marked with blue Arrows) Subsequently, we see channel breakout, backtesting and price making further HH-HL pattern. Observations: The price movement during the Bear phase is systematic and moves in 3 phases as described above, Identification of downtrend trend can be best seen with Bearish divergence and confirmation with price action in the form of Fibonacci Retracement and vive-versa for Bullish Divergence. For continuation of trend, Price, MA, RSI & MACD are moving is tandem. Conclusions: 1. Fibonacci retracement can be best used along with RSI & MACD. 2. We can identify signals when small Fibonacci (in 15/30/hourly charts) gives retracement @ 0.236 levels and Short Sell signal for Weekly/ Monthly calls with 50% Fibonacci levels are described above. 3. Reversal patterns can be best identified with Fibonacci when Higher-High-Higher Low patterns are formed. Notes: What is Bearish Divergence, Bullish Divergence & Rising Wedge, Moving Average, Trendline & Breakout, there are various youtube videos available
NSE:NIFTY
by chetanpathare
Figuring out if a breakout is genuine? (EDUCATIONAL)A perfect breakout setup has : (A) Volume Expansion- Whenever a breakout happens the first thing you might want to check out is if Volumes are increasing i.e. people are getting into it or not. If there is no interest of people in that stock, that breakout might not sustain. (B) Popping out of highest traded clusters- I don't know why but people hardly use volume indicators like Volume Profile which give you an idea. Volume is plotted horizontally but in VP you get volumes plotted vertically along with the price so it becomes very easy to figure out if people are interested or not. Whenever price moves out of a highest traded zone/cluster, it indicates that either bulls or bears are back in action depending on the breakout side. (C) Bullishness in Momentum Indicators like RSI, MACD- Again these momentum indicators work well on higher timeframes like daily, weekly and tells us about the momentum and strength. Here the RSI was struggling nearly an year for breaking above 60 and this time it did so it tells us about the strength of a breakout. (D) Ideal Risk to Reward is an important factor that you definitely need to check out. For swing/positional 4R (1:4 Risk to reward) should be there and Risk should always be calculated before taking trade with position size defined! HAPPY Trading!
NSE:VSTIND
by UnknownUnicorn21160479
11
RS/RSI/BB/ ConfirmationIdea is to find cinfirmation from the Indicators for Trading , Indicators mentioned above in the title show us clearly about the Breakout happening in the stock, Note : these indicators also gives us a idea about where the stock is how it will react in near future. RSI : RSI nifty give us clear indication where stock is heading with its strength visa vis Nifty , how stock is performing with the nifty movement when trend line if nifty with the indicator is above 0 it shows stock has some strength and will react with volumes, when the RS is below 0 , it shows stocl has lost its strength in the market. RS : RS 14 days goves us again a signal for Strength of the stock. Bollinger Band ( 20 Days ) with 0.6 Std gives us clear buying and selling indication of the stock in the market.
NSE:SBIN
by ramandhingra09
Hindalco Fibonacci & PivotSome people say that pivot points are sufficient to identify trend and some say look at the other indicators like MCAD, Supertrend, etc. I would say everything works and nothing works. One has to use the right tool at the right time to identify trend, one tool or strategy will not work in all scenarios. Today after breakout best intraday call is Hindalco but the trick is always to identify and enter into the trade before breakout. Before pivot points super trend and MCAD clearly showed uptrend. As soon as it broke 402. Next clear target was 413 and now 427, 469 in the coming few days as per Fibonacci. Stay long in the trade as long as indicators are positive. Its simple. Pivot helps to identify support and resistance. Indicators confirms trend. Volume gives confirmation. Using all together gives the perfect opportunity to trade. One just need to know which tool to use and when, which requires discipline and patience.
NSE:HINDALCOLong
by Vinay227
BankNifty 34410 ultimate stop for long trades. RSI could not sustain above 48, RSI below 50 indicates weak momentum today was the sixth consecutive closing with RSI below 50. On two hours and hourly charts, RSI closed below 45 at closing, indicating further weakness. EMA on RSI turned bearish even on shorter term charts. Bias is on short side, keep looking at short period charts for confirmation. As long as daily RSI is below 50 OCB, long side trade can be avoided. ADX n DMI combo indicating more weakness. RSI and ADX indicating more weakness. Most indicators signalling further weakness, keep an eye on shorter period charts / indicators for confirmations. 35090-35180- 35270-35360 can be the resistance levels, While 34670-34550-34410 should provide support. Sustaining above 34400 is very important, in case it is given 33900-34000 area can be seen. Quant Indicators are also showing weakness. 34700 - 34400 put spread can be considered, with a stop loss of 35100 on index.
NSE:BANKNIFTYShort
by ipuneet
MATICUSD(4Hr): MATIC moving without any signs of a bullish trendMarket in the last 24hrs MATICUSD saw a major downward momentum as the price moved form the middle to the bottom Bollinger band. Trading volume has been high suggesting that the bearish momentum is strong and is likely to continue. Today’s Trend analysis The price appears to be moving below the bottom Bollinger band suggesting that the price has rejected it as a support line and we can expect the downward trend to continue till the price accepts the bottom band as a support line after which we can expect some consolidation movement of the price. Price volatility was high at approximately 9.1%, with the day's range between $0.741 — $0.822. Price at the time of publishing: $0.744 MATIC’s market cap: $4.73 Billion However, the Indicator summary is giving a 'STRONG SELL' signal on MATICUSD. Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal. Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal. Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis! For other crypto analysis you can go to the mentioned links.
MShort
by traderanalysis
1
divergance infy have chances to go downDivergence in stock trading is the contradiction between price action and indicators on the chart. Since indicators themselves are based on price action, if the price is going contrary to the indicator, this is a clear sign that trouble is on the horizon. This conflict of price and technical indicators is one of the strongest signals in trading. The strength in the signal is related to the fact that a potential trend reversal is on the horizon. From experience, you can make the most money if you are able to catch a trend at the very beginning.
NSE:INFYShort
by meetj17
bitcoin 4hr analysis 2-14-2021Good morning ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I have the four hour time frame pulled up after a new all-time high overnight. We hit around 49700 + and things still look good from the Bulls perspective. I do have a few things I want to cover so let's get this party started y'all.  First of all I want to keep it simple and look at the indicators on the chart. The 50m a is ascending with the candles and as long as we are above the 50 and made things look really solid. But being above the 50 MA and the cloud and the 200 ma is definitely a bullish scenario. We are still above these key indicators on the daily and weekly as well. All of these factors makes a strong case for the bulls...  50k is probably going to show some resistance to the candle. Maybe not 50k on the money but somewhere close to that. The reason I say it is 50k is a nice round number. Seeing as how we have not put much data above 49 k we have to take what we can get. And I do know that Traders look for nice round numbers like 50k for instance to place sell orders and whatnot...  Bollinger bands look pretty tight on the 4hr time frame. Which could indicate that volatility is on the horizon. So it does look like a breakout is on the way. Go to Bollinger Bands really don't tell you which way it's going to go. You have to combine it with other indicators to get a gauge on the market. And right now things look pretty bullish but I would set a stop loss just in case. Also the MACD on the 4hr looks like it could turn back bullish any second. Something to keep an eye on.  Happy Valentine's day to each of you. I hope you all enjoy your Sunday! Its supposed to freeze here and people in SE Texas dont know how to cope with cold weather. So if my power goes out I will try my best to still share my analysis. In the mean time watch for a gap to form below us if these recent gains stick around til Monday. Only time will tell. Have a great day. Make good choices my friends... And always remember WTFDIK? TLDR: New ATH (49800) We are knocking on 50k's door. Set a stop loss. 
by UnknownUnicorn4304403
Bitcoin 4hr analysis 1-2-2021Good morning ladies and gentlemen and welcome back to the world of Bitcoin. The bulls have made themselves at home it seems and they are still taking us to new highs well into 2021. There are a few reasons for this and we will discuss in this analysis. People are calling this a huge bubble and perhaps the bottom will fall out soon. But in the mean time we can enjoy 30k BTC. Even if we did lose 10k we would still be above 20k and that is incredible. I assumed we may break 20k in 2020 but not with this much fomo. Anyways lets take a look at the charts. We are literally in outer space with any significant time frame. Why is this important? Because we are far above the indicators I use daily which is bullish (being above the indicators I use is considered bullish) But this also means the indicators in question arent very helpful as they are thousands of dollars below the candles (with the exception of the 4hr 50 MA) I have been watching the 4hr 50 MA closely. We have fallen below the indicator a few times during this bull run ultimately recovering to above the 4hr 50 MA. We are currently above the 4hr 50 MA (orange line) and until that changes I am still bullish (*short term) Every morning I wake up Bitcoin seems to be up another 1k. I am certainly not complaining but I can say wow. I didnt expect us to break 30k like this. But there was a perfect storm in 2020. A dip to 3800 in March, the Halving in May, we broke a 2.5 year descending resistance in June or July, Stimulus money stimulated the markets, Inflation occurred when we increased the supply of USD by 22% (most ever in one single year) Institutional buying is also a new development. This wasnt happening back in the 2017 run. 2021 is full of changes (political mainly) But Bitcoin is holding strong so far. Monday is what I have my mind on. That is when we all seemingly get back to the mix of a 9-5 and that normal work life. Why do I bring this up? Well traders will also be getting back to their trading desks. They may decide to take profit. But this stimulus they just started sending out may slow the sell off. People dont want to exit their position. Who can blame em? Bitcoin goes up another 1000 bucks it seems every time I close my eyes. The stimulus may substitute the sell off and people may use that stimulus money to pay their taxes instead of exiting a bull market for tax purposes. I see some possible support below us in the event of a retrace. 28400 seems to hold some promise of a possible support if we drop that far. Below that its pretty obvious that 24330 is a likely area for support to show its face. I wish I could identify trends and patterns for you. It makes my analysis fun when I can identify trends and what not. Its not easy to analyze a rocket ship. We are going straight up. Im not upset by this. Not at all. But it sure makes analyzing this parabolic run much more difficult. We may or may not be done with this pump. Along the way from 10k back in July we have created multiple gaps on the CME. Some are over 2000 dollar gaps. These gaps have yet to fill and even though gaps arent guaranteed to fill anytime soon I still have them in the back of my head. Speaking of CME gaps I heard they are adding ETH to CME which not means ETH will also have these same gaps that show up after the weekends with BTC. 30800 is the new ATH. That could be temporary. I hear a lot of other traders saying 35k is within reach. I cant say that is a certainty but I can say that if you want to long this use some common sense my friends. Set a stop loss. I have been walking my stop loss up for weeks and if it does dump my SL will trip. Profit locked in. Easy peasy. I dont care if I miss the top. I bought some of this Bitcoin around 4k back in March so I am sitting pretty right now. Much of you should be in the same boat. I mentioned gaps earlier and this weekend will also have a decent gap. WE have already rocketed up since Fridays close so I am assuming there will be a gap on Monday. If we fill that gap quickly Monday a.m. we may see some knee jerk sell offs. Only time will tell though. We are starting 2021 off on the right foot but Monday is the real test. Lets see if the bulls can pull off another miracle. I hope you all have an amazing weekend. Make good choices my friends. Please remember WTFDIK??? TLDR: 30800 new ATH.Excuse me (NEW ATH is 31250 LOL) it just wont stop! Everytime I close my eyes I wake up with a new ATH. I guess Ill try and take more naps and maybe we hit 40k before the end of the day tomorrow?
Long
by UnknownUnicorn4304403
NIFTY - Tri Star Doji on Weekly charts, extreme indecisiveness Nifty changed -0.75 point during the week and made third consecutive Doji, this completes a Tri Star Doji Pattern. Tri Star is a rare (more so on weekly charts) and significant pattern, indicates extreme indecisiveness. The pattern is generally followed by a trend reversal and sometimes strong trend continuation . Nifty has actually moved some 14 points since 1st Nov. (four Fridays), this consolidation has to end (may end next week only) and it will post a big move (2-4%) in direction of breakout. The range of Tri star (11800 - 12040) sounds big but from today's closing (i.e. 11914) it just have to fall 114 points or rise 126 points to break the range, which is not a big move for a week. In order to make an estimate about the expected direction of Nifty, we'll have to look at indicators / oscillators, RSI on weekly chart is not giving any clear indication, but on daily or shorter duration charts, indicators are showing clear weakness. I even studied Option Chain and noticed that there have been some unwinding of positions in Puts 11000 to 12000 strikes, while positions in calls for strike 11800 - 12400 were added today. Those of you who understand option chain data, will be able to conclude easily "how discomforting it can be for the bulls". Short period indicators including EMA on RSI continues to be weak, with today's fall weakness can be seen even on daily charts. So far all this has been indicating that chances of Nifty breaking the range downwards are higher, but we are in a bullish market and things can change in to time, I'll continue to trade with a downward bias monitoring the trend closely. Positional shorts only after 11840 is broken, add more to shorts if and when 11800 is taken too. "Puneet_9EMA_21_RSI" is a simple and reliable indicator, many of us have been using it for a few months as it has given some reliable and timely "Enter" and "Exit" signals, during the past three months. Please back test yourself - it will give you confidence in trades. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.
NSE:NIFTYShort
by ipuneet
2
did Bitcoin finally made a top in short term?ok guys so for now things are really uncertain for Bitcoin, although oscillators are screaming for more bullish movements but some reversal indicators and by elliot wave theory we're likely really close to the top. from the above chart you'll see that bitcoin tried 3 times to break 161.8% level which is around 8170 and succeed in 4th attempt and hit the 200% level. now an extended wave 5 could go upto 161.8% or 200% of wave 3 which in this case we've already hitted, now there should be start of new abc correction wave, but for a confirmation i've also looked at william's vix fix and murrey's math oscillator, this both indicators alone are not very effective but together both of this indicators work very well. now in murrey's math oscillator you'll see that we're making long dark green candles which are usually sign of creating tops, but that doesn't mean we're going in a correction usually this means that bulls are getting more strength, and you can see that, coz we had a long period of dark green candles, whereas william's vix fix is also indicating for a top by making small grey candles, the more smaller candle gets, the more likely we're forming a top. although am still concerned for this situation and this will be too early to say this or going short from here, so we need more price confirmation from here, we need to break 8100 level and stay below that level to go completely bearish or to short bitcoin. plz like and follow to support our work, thankyou.
BITSTAMP:BTCUSDShort
by Husain_Arkghazi
1
Why I choose Heikin Ashi Over Regular candlestick Part 2 1. The first interpretation is the color of Heikin Ashi candle. If the candle is showing Red color then it means that bears are taking control. As told earlier Heikin Ashi is Averaged candlestick if Heikin Ashi candle showing Red candle means it’s clearly indicating Selling Pressure. Same in case of Green Heikin Ashi candle its showing Bulls are in control and indicating Buying Pressure. 2. Second interpretation is about Wick/Shadow/Tail. If the candle is red and does not have UPPER wick then it's indicating huge Selling Pressure. Same is for Green Heikin Ashi candle if candle does not have a wick on LOWER side then it's indicating huge Buying Pressure. And if there is wick on both sides its indicating confusion between Bulls and Bears and we have to wait for completion of Next candle. 3. Third and most important interpretation in my view is Heikin Ashi candlestick pattern. Heikin Ashi only has two candlestick patterns first is DOJI and second one is Spinning Tops/Spinning Bottoms. If Doji or Spinning top or both appears at top one should be cautious it may be indicating Trend Reversal it may be short or long. Same in case of Doji or Spinning Bottom or both at the low indicating Trend Reversal. Now one of the most important question arises does Heikin Ashi supports Trend Lines, Indicators, Breakouts. The Answer is Yes it supports all things Trendlines, Indicators, Breakouts. One of the most interesting thing about Heikin Ashi is that as the closing price is average price and maximum indicators value calculated using closing price as a result, the chances of giving false Signal reduced. That’s it for this article I hope you will get some idea Heikin Ashi from this article. Note - > I forgot to mention one important thing next Heikin Ashi candle is always starting from the middle of the previous candle. One thing you should always keep in mind you have to Flexible while reading or analyzing chart and applying your studies. Thank You Note - This article is only for study purpose. The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
NSE:ICICIBANK
by CPR_Trader
4
WEEKEND EDITION:First need to identify your treading style. Hmm....good to see market is going up.How ever technical analysis is a judging the momentum.So irrespective of market profit going up or down you have to flow with the trend & get profitable.For this its very important to identify your trading style and long term objective.Basically there are three types of trader. (1) Long term--------They invest there money for long term gains.They must be following money market from edges and know that ultimately market is going to go higher.They have observed 2003 bull market ,2008 bear market.So they are confident and understand the market potential.They do not give much importance to short term panic or euphoria.They may be doing SIP or constructing their own profitable portfolio.They know the basics of long term wealth creation.Sip is good for most as they cant follow fundamentals and technical. (2)Medium term or Swing -----------They invest for medium term and invest when they observe market or index & particular stock is in trend.Swing trading normally ranges from 1 week to 1 month for particular stock.Sound technical knowledge and keeping an eye on the market is necessary.They have a strong acumen to judge the market trend and strength of the trend.They follow the news and develop the insight to read between those lines.Their objective to invest for short term and get benefited form the market trend. (3)Short term---------------They are the ones who like to trade for intraday or btst,stbt. They should have a great knowledge and very fast in placing the orders and closing the position.Mind should be crystal clear about the profit targets.They only think about the levels and momentum of a particular stock.I have seen many traders in my learning journey who buy and sell their stock in 15 minutes and get profitable.They aim for the target between 2-3% and stop loss is always very close.They have the objective of making money by using intrady volatility. However its tempting but bit risky and only 10% get profitable.I would not say which one is better onus is on you to to decide. The bottom line is before one start trading one should be aware about his strength,weakness and objectives. About the chart posted:There are so many indicators & oscillator to use on a chart.Every chart has a different settings of indicators and parameters.Same indicators can not be fixed on every chart.Otherwise life would have been so easy.But i like to keep it simple as much as possible.I believe If only one trend line can show what i am talking about then its lot more easy to understand.Stock is in uptrend and i have mentioned a very logical 1 st target.When it gets to surpass that target you can right in comment to 2 price objective.i have mentioned stoploss and long term support. P.S.-----This is not any recommendation to buy.Its for educational purpose only.Money market is risky.Talk to your financial expert before any investment decision.
NSE:PETRONETLong
by sambhai
6
WEEKEND EDITION:Need to first identify your trading style.Hmm....good to see market is going up.How ever technical analysis is a judging the momentum.So irrespective of market profit going up or down you have to flow with the trend & get profitable.For this its very important to identify your trading style and long term objective.Basically there are three types of trader. (1) Long term--------They invest there money for long term gains.They must be following money market from edges and know that ultimately market is going to go higher.They have observed 2003 bull market ,2008 bear market.So they are confident and understand the market potential.They do not give much importance to short term panic or euphoria.They may be doing SIP or constructing their own profitable portfolio.They know the basics of long term wealth creation.Sip is good for most as they cant follow fundamentals and technical. (2)Medium term or Swing -----------They invest for medium term and invest when they observe market or index & particular stock is in trend.Swing trading normally ranges from 1 week to 1 month for particular stock.Sound technical knowledge and keeping an eye on the market is necessary.They have a strong acumen to judge the market trend and strength of the trend.They follow the news and develop the insight to read between those lines.Their objective to invest for short term and get benefited form the market trend. (3)Short term---------------They are the ones who like to trade for intraday or btst,stbt. They should have a great knowledge and very fast in placing the orders and closing the position.Mind should be crystal clear about the profit targets.They only think about the levels and momentum of a particular stock.I have seen many traders in my learning journey who buy and sell their stock in 15 minutes and get profitable.They aim for the target between 2-3% and stop loss is always very close.They have the objective of making money by using intrady volatility. However its tempting but bit risky and only 10% get profitable.I would not say which one is better onus is on you to to decide. The bottom line is before one start trading one should be aware about his strength,weakness and objectives. About the chart posted:There are so many indicators & oscillator to use on a chart.Every chart has a different settings of indicators and parameters.Same indicators can not be fixed on every chart.Otherwise life would have been so easy.But i like to keep it simple as much as possible.I believe If only one trend line can show what i am talking about then its lot more easy to understand.Stock is in uptrend and i have mentioned a very logical 1 st target.When it gets to surpass that target you can right in comment to 2 price objective.i have mentioned stoploss and long term support. P.S.-----This is not any recommendation to buy.Its for educational purpose only.Money market is risky.Talk to your financial expert before any investment decision.
NSE:PETRONETLong
by sambhai
Sunday Special : TechM analysis & Waves !The concept lying behind this post is how to trade with Elliot waves and use it to our advantage, with simple known techniques. Many will have doubts on how Elliot Wave count is done.It's as simple as 1-2-3, I will explain step by step. This is gonna be Learn n Practice post, so with each step mentioned, you draw & analyze along with Me, So that you can learn more efficiently. Why I do this ? I'm completely loaded with pings on how to be successful & Nifty trade ideas boosted it up & All are very eager to learn, I really appreciate their effort to learn instead of losing money by taking Risk. So here it goes... I'm gonna share everything from Now on, to help every individual who aspires to taste success in trading... Very Important Step : Keep your charts clean. Remove all indicators, just keep candles only. We rarely use any indicators ( that's My Style ! ). Only Candles are Enough ! Step 1 : Open TechM & choose 1h charts... Just to make sure,Wiped your charts clean ? No, Indicators right ? Lets Proceed... Step 2 : Take a look at your left pane, there are awesome tools from tradingview & Click on 6th icon & choose Elliot Impulse Wave (12345). Step 3 : Identify any Swing High or Swing Low, Here our starting point is 512's(approx) @ 26-Jul-15 {Make a click with Elliott wave tool}. Why this point, not some other point you may ask, For Learner's easiness & to avoid confusion I keep it simple, so lets proceed. Step 4 : With Elliot tool in hand, all we need to do is identify & click on Swing Highs & lows alternatively. So, next swing low 476 {Wave 1}. Great ! You have drawn Wave 1 Successfully. Kudos to You :) Step 5 : Next swing high 509{Wave 2}, next swing low 448 , next swing High 483 {Wave 4}, Final swing low 449 {Wave 5}. Step 6 : Now check rules of Simple Elliot waves. Below rules are not perfect elliott rules, these are what I use. The 5 primary rules I use are below : 6a) Wave 2 Should not retrace fully over Wave 1 6b) Wave 3 will be Longest {minimum over 161.8% Fib extension of Wave 1} 6c) Wave 4 should not retrace more than 50% of Wave 1 {Not Elliots, just My Style of Filter} 6d) Wave 2 or Wave 4 should not be longer than Wave 3 6e) Wave 5 should be almost equal to Wave 1 Step 7 : Check rules mentioned above & if everything matches... Awesome Guys... You have drawn Elliot waves successfully. Kudos & Appreciate yourself :) Now analysis part, We have previous support in 448 zone right ? So possible Double bottom in same zone ? Yeah, it can happen. So ideal to get long on TechM with Elliot completion & Double Bottom if there is Bullish confirmation. Absolutely, sounds like we got Plan. Thats it..it's so simple ! I have marked rectangular pattern around wave 2 & its breakout and aggressive setup on Wave 3 end to catch wave 4, if I go on explaining past... I can do all day...But Past points & successful trades are worthless I feel. So straight to what's happening now... I don;t trade sharks alltime, so I drew that just for identification purpose here. I cut short this analysis part bcos There are lot of Sunday & Weekday Specials to come.. From simple candlesticks to Complex Elliot's,analysis... Everything with complete details from Patterns to Strategies, to make your trading career & life Successful :) On Fun Note : I hope other author's won't be in hurry to get ahead of Me in sharing Strategy's & Patterns setups. Even if they do what you get here will be Unique, I assure :) I don't want you guys to lose money, like I did some years before around 2009's. Thats why I share these to help you guys & to protect your hard earned money. Open charts, draw Elliots step by step on every chart , today is Sunday, Practice Hard. Don't say excuses - as you got movie to catch, got to sleep in afternoon, Losing Money will give you sleepless nights which is worse. So its good to learn n practice before trading. {if there are typo's/errs bear with Me}
NSE:TECHMLong
by InsiderB
13
Progyny, Inc. (PGNY) – Trend Reversal in Progress Timeframe: 1D Analysis: Progyny, Inc. is showing signs of a potential trend reversal after forming a strong base at $13.52 and breaking key resistance levels. Key observations: Support and Resistance: The stock has established strong support at $13.52 and intermediate support at $18.14. The next resistance levels are at $25.37, $31.56, and $39.06. Moving Averages: PGNY is trading above the 20-day EMA (blue) and 50-day SMA (red), indicating bullish momentum. A golden cross (20 EMA crossing above 50 SMA) has occurred, further strengthening the bullish outlook. Volume: Increasing volume supports the upward movement, showing active buyer participation. Formation: The stock has broken out from a consolidation phase, potentially leading to higher price levels. Trade Plan: Entry: Enter near $21.00-$21.50 for confirmation of continued upside. Consider a retest of $20.00 for a better risk-reward entry. Stop Loss: Below $18.00, just under recent support. Targets: Target 1: $25.37 Target 2: $31.56 Target 3: $39.06 Risk-Reward: Aim for a 1:3 risk-to-reward ratio for a conservative approach. Bullish Bias: Progyny, Inc. is gaining bullish traction with strong price action and supportive technical indicators. Monitor volume and broader market conditions for confirmation of the uptrend.
NASDAQ:PGNYLong
by prasadrana111
GOLD strategy beginning of the week January 13 Continued uptrendSafe Haven Demand for Gold Surges Amid High Inflation and Upcoming Tax Policies Under Trump Administration Gold prices in the domestic market closed the week at their highest level in a month. A report from the U.S. Department of Labor showed that non-farm payrolls in December increased by 256,000, far exceeding the November figure of 227,000. The strong job data caused an unexpected reaction in the commodities market. This has raised the probability of the Federal Reserve (Fed) not cutting interest rates in January to 97.3%. Meanwhile, 74% of analysts believe that the Fed will maintain its current interest rates until the FOMC meeting in March. Donald Trump will be inaugurated as U.S. President on January 20. Markets are paying close attention to the Trump administration’s policies, particularly regarding tariffs and their inflationary impact, as well as concerns over rising fiscal debt. In such a scenario, gold is seen as an inflation hedge, potentially pushing its price higher. Analysts at Saxo Bank suggest that these factors have driven increased physical gold accumulation in China. Gold has also seen significant gains against the British pound, as the U.K. faces a new bond market crisis. U.K. bond yields have surged due to concerns that the government will struggle to control the deficit amid rising spending costs. While higher interest rates are typically bad news for gold, uncertainty around tariffs continues to drive safe-haven demand. Since the beginning of the year, gold prices have risen nearly 3%. Looking at the charts, the price trend is turning bullish, with the next key resistance level at $2,715 per ounce. Bank of America and JPMorgan predict gold bullion will reach $3,000 per ounce by year-end, while UBS forecasts a price of $2,900 per ounce. Market Update and Technical Analysis Here’s a quick update on the current market situation. As mentioned, scenarios still favor gold’s upward momentum, despite positive U.S. data indicators. With upcoming events, investor sentiment remains inclined toward gold as a safe haven. The key psychological level is at $2,720; if this level is broken, the previous peak will likely be revisited quickly, leading to the creation of a new all-time high. However, initially, the market may test $2,720, followed by a correction phase to gather liquidity and momentum for reaching higher levels. From a technical analysis perspective, the bullish trend remains stable, supported by fundamental analysis factors. Therefore, continuing to buy is recommended, with a target at $2,720. BUY ZONE: 2678 - 2676 SL: 2672 TP: 2684 - 2688 - 2694 - 2700 - ??? SELL SCALP: 2702 - 2704 SL: 2708 TP: 2698 - 2694 - 2690 - 2686 SELL ZONE: 2716 - 2719 SL: 2723 TP: 2712 - 2710 - 2697 - 2694 Note: Key resistance zones are already highlighted in daily and weekly plans. Exercise caution early Monday as price ranges are still forming. Adhere strictly to TP/SL for every trade signal to safeguard your account.
OANDA:XAUUSDLong
by KevinNguyen-SimpleTrade