Disclaimer - I might be completely wrong today, as I've Bearish sentiment even after such a wonderful retracement.
I expect NSE:NIFTY to open flat and trade in a range before falling down till at least 18100.
It's just my analysis, do your own before traing/investing.
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Gold is technically bullish due to use only its fell down...
Analysis 1
M pattern in 4H and 75% Traget only done...so that (a)2019-2022(if here retracement 1980 is the trg)or (b)2030-2034.5(if here is the retracement huge fall will be happen)...bcz below 1960 has major support...
(a)Sell stop @2009 USE SMALL LOT
Trg 2000/1990/1980
Buy stop 2023 (no sl) Double...
Before any discussion , I like to share few facts about mighty Nifty :
1. Nifty is in downtrend since 1 Dec 2022 from level @ 18860
2. After 3.5 months of downfall , finally Nifty found support level @ 16850
3. The support level was retested numerous time unless Rectangular Channel break our was seen on 31.03.2023
4. Since 31.03.2023 , Nifty was in uptrend till...
USDJPY marked the first negative weekly close in four despite Friday’s gains. Following that, the Yen pair remains inside an ascending triangle bearish chart formation comprising multiple levels marked since early December 2022. That said, the RSI and MACD conditions also signal a continuation of the recent rebound within the stated triangle. With this, the top...
On break of low of 18055, it can touch near 17400 level for retracement. Momentum Indicator is also showing down side directions. Hence, atleast tight the SL for all the longs if one is not shorting.
Finally some volatility to keep the bears alive. This entire week the technical analysis was saying keep buying. See how a fundamental change can alter the sentiment.
"MSCI tweaks spook HDFC twins, merged entity may see $150-200 million outflows"
The MSCI news hit just before the start of the day and NSE:HDFCBANK and HDFC were down 5% in pre-open. The...
Chart patterns insist me to go with above titled opinion
REASONS
1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below)
2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce.
3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting...
Nifty has shown a steep upmove in the last one month breaking all the strong resistance without any major retracement.
Today, nifty crossed 18000 with a strong volume candle and has closed near a strong supply zone of 18100-18120 levels. Even Bank nifty has given a strong closing above 43000.
This breakout can be a signal for strong bullish uptrend to a new high...
Guidelines for Bearish Cypher:
1. The AB leg moves higher to retrace the XA leg. This retracement should bring prices to the 38.2 to 61.8 percent level of the XA leg.
2. The BC leg moves lower, takes out the swing low at point A, and terminates between the 127.2 and 141.4 projections of the initial XA leg.
3. The CD leg moves higher and terminates near the...
We are now seeing a retracement on #btc after striking the 50% fib level at price $31125 from last high to swing low on monthly.
The next move is #btc tumbling further to our respective demand zones. We have Identified two possible outcomes A & B.
Option A(Blue): Bitcoin will reach the 50% fib at 22,521 and if the level holds we could see a retracement back to...
ICICI Bank is expected to come out with results.
The stock has tested it's 76.4% retracement.
Given the chart set up, one may consider a Bear Call spread strategy for May expiry.
Sell 900 Call option and Buy 920 Call option.
Profit potential of 19% on margin.
Take care and safe trading...!!!
Inverted head and shoulder pattern formation
Index in trading around neck line resistance, so soon the formation of head might mature and formation of right shoulder might unfold
Descending trend line.
Index is trading around resistance of descending trend line, previously 2 time this trend line is respected and index have given sharp reversal,
Fibonacci...
Be it a clear downside break of the 10-week-old ascending trend line or sustained trading below the 200-SMA, not to forget the latest fall below one-week-long rising trend line, USDCAD has it all to keep its place on the bear’s radar. The quote’s further downside, however, hinges on the Bank of Canada (BoC) monetary policy decision and the US Consumer Price Index...
BUY - SONACOMS
CMP - Rs 422
Target - 1: Rs. 593
Target - 2: Rs. 806
.
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Technical -
1) Bullish Cypher Harmonic Pattern.
2) The stock is at support.
3) Targets have been set using Fibonacci Retracement.
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.
Fundamentals -
1) Company has opened a new manufacturing plant in Pune.
2) 62.66% YoY growth in EPS.
3) FII holding has increased QoQ.
4) DII holding increased...
As seen on the chart a bullish harmonic pattern is formed.
Post the low the stock has been in a range forming bullish candle patterns.
On Bollinger band we can see an inside - outside bottom.
and support on the RSI is a cherry on the cake.
The volumes have been low on the last candle hence a small dip to 2750 could be possible
which can be use as a buying...
Description: ABB India stock has formed a saucer with handle pattern on the chart, which is a bullish chart pattern indicating a potential buying opportunity. The saucer shape shows a gradual bottoming out of the stock price followed by a period of consolidation, while the handle represents a brief period of retracement. The stock is currently trading near the...
Najoomi Ji is an astrologer and trader who combines astrology with technical analysis, including Fibonacci retracement and pitchfork techniques, to make accurate predictions about the stock market. Najoomi Ji recently made a prediction for Bank Nifty's future, stating that the index would reach the 41,200 levels, consolidate briefly, and then move towards...
Resistance level:40777
Support level : 40427
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart.
If candles are sustaining between resistance and support levels, consider as neutral.
If candles...
