Looking good for long once it break's out the resistance. Avoid short positions, however if you wanted to short let the candle close below the horizontal line
It is 0.23% retracement.
CONCEPT OF TWIN TRENDLINE
Long term wealth is generated through capture of trending move in a stock. The skill is in reading the chart and determining whether the trend has commenced. There are several means which are widely used to find the trend:-
-Oscillators
-EMA and its slope.
-Darvas box
-HH & HL market structure
-Formation of pivots
-Elliot Wave
All above...
You can start to buy it in chunks.
Yes it takes time but nothing is better than safer investments atleast you earn something.
MACD is showing strength.
Pattern repetation of rally and retracement.
Despite the Fed-inflicted volatility, the Gold price remains bullish as markets brace for the European Central Bank (ECB) monetary policy meeting. That said, successful trading beyond the 50-EMA and 200-EMA, respectively near $1,950 and $1,904, keeps the buyers hopeful. Also acting as short-term support is the 50% Fibonacci retracement of the pair’s February-May...
share forming round bottom pattern. the recovery level is exactly to fin retracement. can go long above the previous nearest high
bullish above 873. sl 860. target 891/933/973
I am not SEBI registered RA. The views are my personal and is not an invite to trade. please do your own due diligence before investing
No proper price action , no clear trend, no clear levels to play out,
stay cautious.
Nifty is bearish and BN has no sign of bearishness, jut retracement.
So big move is not possible as both index are not in line, BN may hit the target first then reverse and get in line with nifty.
If you observe properly btc have 4 chances,
1 case : btc will move 31500 to 33000 level then it will take breath of retracement till 28500 to 27800 level which is badly needed.
2 case: btc will test 30800 level then it will take breath of retracement till 28500 to 27800 level which is badly needed.
3 case : btc will move to 31500 level and will take danger...
Nifty Analysis
If you had read yesterday’s report, I am sure you would have anticipated the gap down today & the profit taking that followed. Today’s price action may not be a structural change or the start of the next bear rally (at least too early to comment). What I feel is, we have out run the fundamentals & need to give some time for it to catch up so that...
AUDUSD remains on the front foot while printing the first daily gains in five after strong Australian employment data. The pair’s latest upside also justifies the upward-sloping RSI line, not oversold, as well as the bullish bias of the MACD signals. With this, the quote is likely to extend the north run toward May’s peak of around 0.6820 ahead of targeting the...
Fundamental analysis:
it is very obvious that the asset is at distribution phase on its bearish trend, though many countries are accepting it as a legal tender but there are many more reasons that the coin is on its way to the lower levels of its past appreciation and we can have one more glimpse of this asset on its very undervalued levels before the...
Nifty Analysis
Today turned out to be a non-eventful day for me. Looking at the premiums yesterday, I came prepared to hunt for similar option prices. Unluckily the premiums did not have that wildly swings like yesterday. In the process I ended up not taking what was available 😢
We opened gap up today and then had an up move till 09.55, from there it fell 110...
MARKSANS PHARMA strong monthly weekly and daily breakout in the uptrend channel from the resistance of 104. It will act as a strong support also for further retracement. For uptrend channel shortterm target is 126. If it sustains above in weekly 126 it will reach the target of 168
USDJPY dropped in the last two consecutive weeks but ended Friday on a positive note as it bounced off a convergence of the 100-DMA and the 200-DMA. Adding strength to the hopes of recovery is the oversold RSI and the pair’s closing beyond a seven-month-old horizontal support zone, around 137.90-138.20. That said, the 140.00 round figure appears immediate hurdle...
Banknifty has broken its structure, that means price is getting into a retracement.
Now on intraday its most likely to sell on rise.
Wait for support to break and turn it into resistance or if gap up then short near resistance.
There is also a probability that market can trap buyers by retesting a recent high and then fall sharply.
