Suzlon, once a darling of the stock market, has shown signs of strength by crossing a major hurdle of ₹25.70, which it had been trying to cross since January 2012. This is a very positive sign, and it indicates that the stock could be poised for further gains.
On a monthly scale chart, Suzlon has finally succeeded in crossing the crucial ₹25.70 mark after almost...
USDJPY extends Friday’s rebound from the nine-week-old rising support line while printing the fresh high of the year 2023. It’s worth noting, however, that the overbought RSI (14) line and lackluster MACD signals suggest hardships for the pair buyers moving forward. Also challenging the upside is the 150.00 psychological magnet and a seven-month-old ascending...
The market witnessed a struggle to retain control by Bulls and Bears. Unlike the previous week, the intensity was lesser, except for the month end option expiry which saw sharp fall. However, the Friday’s recovery seems to send a message that the game is not over yet. Added pressure was due to a truncated week with monthly, quarterly and half yearly closing. The...
Gold licks its wounds at the lowest level in more than six months after falling the most since late July the previous day. Although the oversold RSI prods the XAUUSD sellers, the bearish MACD signals, a clear downside break of the previous key support line stretched from February and a death cross on the daily chart together suggest further downside of the...
The market witnessed a scenario which appeared as a complete U-turn of the sentiments. The expectation that the previous high would act as a support also was negated. In just four sessions the Index lost more than 50% of the gains made during the month. The ensuing week remains crucial with the culmination of the weekly, Monthly, Quarterly & Half yearly...
USDJPY defends a two-week uptrend within an ascending trend channel established since early March. In doing so, the Yen pair stays near an upper limit of the stated channel, recently wobbling between the 21-day SMA and a one-month-long resistance line. It’s worth noting that the RSI (14) line suggests the bullish exhaustion while the MACD also lacks directional...
So, we can see that the market opened with a gap-up today and reached 20,165. However, shortly after that, we witnessed significant selling pressure starting from the 20,165 level. This indicates that 20,165 is acting as a resistance point. Subsequently, the market started moving within a channel.
Around 3 PM, there was a breakout from this channel, and the...
EURUSD braces for the first weekly gain in nine as markets await the key European Central Bank (ECB) Interest Rate announcement. In doing so, the Euro pair extends the previous week’s rebound from the 78.6% Fibonacci retracement of March-July upside, near 1.0680 by the press time. The corrective bounce also gains support from a looming bull cross on the MACD...
After a gap up opening, there was a profit booking and market consolidated as it has already stretched alot and it may take a halt or market may become volatile.
On the hourly charts, there was profit booking in the first hour and market remained inside the candle whole day closing almost flat.
Nifty has hit a new ATH and there should be a halt or a retracement...
XAUUSD is overall in downtrend. If we want to look for short setup then we can wait for retracement . Possible lower low can be formed around 1900-1905 area. the wait for retracement to short .
GBPUSD consolidates losses made in the last three consecutive weeks ahead of the UK’s employment report. Adding strength to the recovery momentum is the RSI (14) line’s rebound from the oversold territory, as well as a six-week-old falling wedge bullish chart formation, which in turn suggests an immediate run-up to cross the 1.2600 round figure. However, the...
Gold price appears well set to print the first weekly loss in three as it defends the previous Friday’s U-turn from a key resistance line below the important Exponential Moving Averages (EMAs). However, the 50-EMA pierces the 200-EMA from below and prints a “Golden Cross” bullish moving average crossover suggesting a corrective bounce in prices. Additionally, the...
USDCAD bulls struggle to keep the reins at a five-month high as markets await the all-important Bank of Canada (BoC) Interest Rate Decision and the US ISM Services PMI for August. That said, the nearly overbought RSI and impending bear cross on the MACD checks buyers as they attack a convergence of an 11-month-old descending resistance line and a horizontal region...
Introduction:
In this BNB/USDT technical analysis, we'll examine critical price levels and potential scenarios for Binance Coin (BNB) against the US Dollar Tether (USDT).
Liquidity Sweep Area - 145-160 USDT:
The first key aspect to address is the liquidity sweep area, which encompasses the price range of 145-160 USDT.
Liquidity sweeps often serve as precursors...
GBPUSD remains on the back foot while justifying a downside break of a 5.5-month-old rising support line and the 100-SMA. Also keeping the Cable bears hopeful are the bearish MACD signals. However, the nearly oversold RSI conditions suggest limited room towards the south, which in turn highlights the 200-SMA level of around 1.2400 as the key support. It’s worth...
USDJPY again flirts with the 78.6% Fibonacci retracement of the October 2022 to January 2023 downturn within a five-month-long bullish channel. Though, the overbought RSI (14) and looming bear cross on the MACD signal pullback of the Yen pair. That said, the tops marked in late June and early July join the 21-DMA to highlight the 144.60-50 zone as a short-term key...
MOMENTUM TRADE
TDPOWER SYSTEM
Symmetrical Traingle pattern breakout
High volume
Above 50 EMA
T1-163.5 (As per Fibonacci Retracement)
T2-200+ (As per Fibonacci Retracement)
SL - 128
This chart is only for educational purpose
Do your own study before taking any trades
A daily closing beneath a nine-month-old rising support line, now resistance around 0.6480, keeps the AUDUSD bears hopeful of witnessing further downside even as the oversold RSI conditions prod the immediate declines. That said, the 78.6% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6380, checks the bears while the last November’s bottom...
