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PostMortem on BankNifty Today & Analysis of 11 NOV 2022What a spirited performance by NSE:BANKNIFTY today! Mega gap up opening at 42163 breaking the all time highs and a perfectly strong buy day today. The attempt to close the gap was short-lived when BN took support at 41929 (The swing high of the last few sessions). This was quite expected after the mega US rally yesterday, SP:SPX up 5.5%, NASDAQ:NDX up 7.49%.  Here bank nifty was already at ATH so this overnight news really helped the NSE:CNXIT index more (up 3.81% today). I have been covering this story for a while now, the expiry trades are at isolation mostly due to positioning and the adjacent days has continuous price action. Let me be very specific here with examples From image below, see the blue encircled portion which is what happened in expiry yesterday. The entire day was in isolation - the day today had no significance to the trades done yesterday. The pink highlight shows how the bank nifty would have continued if there was no expiry positioning. Remember i said this expiry bank nifty will be bearish - it was because of this see orange highlight. The last 1 hour move on wednesday showed us indications that thursday will be bearish. But this had no significance in the overall trend direction. What this does is create an imbalance of information - which leaves a hole in the pocket for traders who cannot digest it. --- Of the bank nifty components we have few anomalies today - lets try analyzing them one by one NSE:HDFCBANK up 5.67% mostly because of the MSCI rebalancing news. The gap up was soft, the news drove the stock up. NSE:ICICIBANK down only -0.46% but the chart pattern of icici vs hdfc shows a mirror like image. The gap up was huge and the fall was rhyming with the hdfc news.  NSE:SBIN also had similar chart patern as icici - mega gap up and a gradual fall to close lower. Both SBI and ICICI would have been unwound to stabilize the bank nifty index when hdfcbk was getting accumulated. Again the institutions would have done this keeping their MTM losses under check If yes - then we can expect a counter move in the next 3 sessions prior to this expiry. Or else the big boys will have to take their losses and move forward. The fall in BSE:KOTAKBANK came after 11.00 only, the intensity of fall was strong - may be the strong hands would have booked profits after the move yesterday. Axis bank gave confusing chart pattern today - jumping up and down after the gap up. The chart isnt bearish today - but i cannot say its bullish also. IndusInd bank closed positive even after a gradual fall. --- If you look that the chart today, the 9.20 straddlers would have made money. the open and close exactly at the same levels. As 80% of the last 2 months move were in the same fashion. Macros overnight creates gap up or gap down and then the trade for the day happens as the same level. Even for a day like today where hdfc bank had news flow and it rallied 6% - the market participants fought hard to keep the open and close in the range by offloading ICICI, SBI, Kotak. Now is not the time for the faint of heart to do options trading - the people who make money are either the news makers or the insiders. Far OTM PE options would have given good naked selling opportunities today. Look at the intraday highs, previous day close and the final close of todays. Here again algos and HFTs would have identified these mispricings before you or me did. --- S&P500 vs bank nifty the spread has closed down a little due to the extra special move yesterday. SPX down -12.16% vs Bank nifty +6.65%. Lets note that US market had a bear rally bounce vs a bull run in India. After yesterday's move, the nearest support is at 3945.86 and resistance at 3991.18. Also note yesterday's move took out the long red candle as of 02 nov 14.30. Nobody can predict, but the bounce we had in US market was because the trades felt the CPI news will prompt US FED to pivot and start doing the QE from the QT now. Guess what will happen if the FED says they are not pivoting? --- 15mts vs 1hr TF bank nifty - both are showing immense bullishness. Notice today's trade staying on top of the swing high of the last sessions - indicating strength. 1D vs 1W also showing strong bullishness. The day's candle is a break away red doji much like a shooting star. But the week's candle is strong green with a long bottom wick. --- Bank nifty support and resistance has been updated new support1: 41929, support2: 41618 resistance: no resistance as at ATH --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTYLong
by viswaram
Strong reversal showing WTI 1 hr Chart Fundamental Development : Oil was up on Tuesday morning in Asia opening higher after falling sharply during the prior session. WTI futures were up 0.97% to $99.50. Both Brent and WTI benchmarks ended the previous session down around 4%, with Brent tumbling as much as $7 a barrel during the session and WTI falling roughly $6 a barrel. China will keep liquidity reasonably ample in financial markets, the People's Bank of China said in a statement on Tuesday, a day after the central bank announced a cut to banks' foreign exchange reserve ratio to support the economy. Short Term Technical View: As per bollinger band indicator WTI future is taking strong reversal at support level 95.80 , Technically RSI Indicator also indicate reversal in the chart and showing bullishness above 50 level and increasing volume at support level showing strong buying , As per my view If WTI break today days high of 99.85 and CB Consumer Confidence data release in U.S. Session also indicate positive so it will be great opportunity to buy WTI futures above 99.85 with the target of 101.75 and take a stop loss at 98.68 . Alternative Scenario : If WTI future will not sustain above 99.50 level and break today low 95.80 and CB Consumer Confidence data release in U.S. Session also indicate negative so it will be great opportunity to short sell WTI futures below 95.80 level with the target of 93 and take a stop loss of 97.50 .
NYMEX:CL1!
by RATONYCNC
1
bank nifty levelsToday's analysis- Today bnf gave a flat opening. The first candle on 15 min TF is a bearish candle, although the candle has a wick but the body of the candle is larger than the wick and close is near the low of the candle. This indicated that there is weakness in bnf, which was again validated by the next 2 candles(long upper wick shows price rejection by the bears). BNF came down to the major support zone of 35500 where it filled the gap. From this levels you can see two strong bullish candles, which indicated strong buying in the last half an hour. 35500 is therefore a very important level for bnf. If this level is broken then bnf will go upto 35000 levels. Chances are less that bnf will give expiry below this level tomorrow. Tomorrow analysis- The last half an hour of buying indicated that there should be a reversal from this level. Depends on how bnf gives opening tomorrow. If bnf gives opening above 35500 levels with a strong bullish candle, then it will go upto 36000 levels. If 35500 is broken, then next major support according to option chain data is 35000. Trendline is broken and there is hidden bullish deivergence in rsi as well, so bank nifty should go up.
NSE:BANKNIFTY
by monikad22
NIFTY for 6th DecemberThe market had expected and already factored in a 25 basis point rate cut in repo rate from today’s monetary policy. However, when that did not happen, markets fell- now that’s what experts believe! But when you see today’s charts, if this were true, then how come Nifty after fall, climbed up almost to pre-policy announcement levels ( nifty at 11.30- 12070 and Nifty at 13:45 -12073!) and then fell as if, to prove a point. In my opinion, here onwards inflationary pressures, weak economic outlook and even more alarming signals (now from RBI) on consumption front will not let markets move up. In my video posted on youtube under channel name Market Movers India, I have talked about this in greater detail so please check and subscribe that. Markets may stay here or go down till the clouds are clear. Let’s validate this point using our regular data- 1) FII & DII data: For a change, FIIs were net buyers today and DIIs were net Sellers. Figures for both these entities are not so high to give us any conclusion about their outlook. So let’s leave it at that. In final data for yesterday, FIIs were Net sellers in Equity and index futures but net buyers in stock futures. FIIs will not shy away from Selling if they find valuations high. 2) Option Chain data: (Expiry 12th December) On PUT side, highest total OI is on both strikes 11900 and 12000 (almost equal figures) suggesting that half of put writers believe that 12000 can be breached and then 11900 may act as support. Highest Put writing is at 12000 and 2nd highest at 11900. So this data also supports the said view. On CALL side, 12100 is a clear cut resistance with highest total OI and highest fresh Call writing by huge margin over other strikes. Tomorrow it is almost impossible for Nifty to reach 12100. 3) Charts: Daily chart for Nifty gives you a very clear picture of how things may pan out in next few days. Nifty after 3 days of strong red candles previously, made a strong green candle today and on the back of that, opened gap-up but could not sustain it and fell down at 12000. Then, it climbed a bit to close at 12018. In today’s session, Nifty tried to go below 12000 thrice (check on 5 min chart) and each time recovered. Tomorrow, I think it may succeed! There is a strong buying area marked on 15 min chart and also a selling area if Nifty reaches there. Buy or Sell with a SL beyond red line. Chances of fall or consolidation in a narrow range are more. All the best. Happy trading.
NSE:NIFTY
by protrader1969
RELIANCE CAPITAL DailyFinance sector has been moving pretty swiftly and the strong surge in this counter beyond its recent highs around 700 does spell for some strong continued trended action. The prices have been moving well especially after posting a strong Q1 in 2017. With the prices taking firm support at the Tenkan Sen we can look for the strong surge beyond previous high has been maintained to produce fresh thrust on Friday inviting strong buying action. Move towards 771 is on the cards.
RLong
by NeoTraders
Paytm stock breakoutLet's dive into the **Paytm (One97 Communications Ltd.)** analysis from both a **fundamental** and **technical** perspective. ### **Fundamental Analysis of Paytm (One97 Communications Ltd.)** #### **Overview of Paytm** - **Sector:** Financial Services, Technology - **Industry:** Digital Payments, Financial Technology (FinTech) - **Founded:** 2010 by Vijay Shekhar Sharma - **Headquarters:** Noida, India - **Market Cap:** Approx. ₹47,000 crore (as of the latest data) Paytm is one of India’s leading digital payment platforms, offering services in mobile wallets, payments, banking, insurance, and wealth management. Paytm became a household name in India, especially after the 2016 demonetization, which significantly boosted the adoption of digital payment systems. #### **Key Financials (Latest Report)** - **Revenue Growth:** Paytm has shown significant growth in its top line, driven by the expansion of its digital payments and financial services products. The company has diversified into multiple areas, including lending, insurance, and wealth management. - **Profitability:** Despite its high revenue growth, Paytm has faced challenges in achieving consistent profitability. As of the latest financial results, the company has been operating at a loss, mainly due to high customer acquisition costs, marketing, and operational expenses. - **Debt Levels:** Paytm has taken on some debt for its expansion, but it is generally well-funded by investors, having raised significant capital through its IPO. - **Market Share:** Paytm is one of the dominant players in India’s digital payments sector, competing with other fintech giants like Google Pay, PhonePe, and MobiKwik. #### **Valuation Ratios** - **P/E Ratio:** Paytm is not currently profitable, so it does not have a meaningful P/E ratio. - **P/B Ratio:** As Paytm is still in a growth phase, its Price-to-Book (P/B) ratio reflects the market's valuation of its future growth potential. It remains relatively high compared to traditional companies. - **Losses & Burn Rate:** Paytm has faced a high burn rate as it invests heavily in customer acquisition, technology, and expanding its financial product offerings. Investors are waiting for the company to scale and achieve profitability. #### **Industry & Macro Trends** - **Digital Payments Growth:** The digital payments market in India is expanding rapidly, driven by increased smartphone penetration, digital adoption, and government initiatives like UPI. Paytm stands to benefit from this market shift. - **Financial Services Expansion:** Paytm has been diversifying into other areas of financial services, including lending, insurance, and wealth management, which should provide additional growth avenues. - **Regulatory Risks:** Being a fintech company, Paytm is subject to regulatory scrutiny, especially around its lending practices and financial products. Changes in regulations could impact its business model. - **Competition:** Paytm faces intense competition from established players like Google Pay, PhonePe, and Amazon Pay. Additionally, traditional banks are increasingly investing in their digital offerings, increasing the competitive pressure. --- ### **Technical Analysis of Paytm** Let's look at Paytm's potential technical outlook based on its stock price movement, assuming you're analyzing the stock after it went public: #### **Price Action:** - **Current Price:** The stock price of Paytm (One97 Communications) has been volatile since its IPO, trading below its listing price at various points, reflecting investor sentiment and concerns about its long-term profitability. - **Chart Patterns:** Given the volatility, Paytm might show consolidation patterns, breakout formations, or flag patterns that can indicate future price movement. #### **Key Levels:** - **Support Levels:** - **₹600-₹620:** Paytm has found support at this range in the past, where the stock could consolidate. If the price falls here again, this could be a potential buying opportunity. - **₹500-₹530:** A critical support zone. If the stock breaks below this level, it might suggest further downside potential. - **Resistance Levels:** - **₹750-₹770:** The stock has faced resistance near this level multiple times. A breakout above this resistance could indicate potential upside and momentum. - **₹900-₹950:** This level could act as a significant barrier if the stock experiences upward momentum, representing key psychological resistance. #### **Moving Averages:** - **50-Day Moving Average (50-MA):** If Paytm is trading above its 50-day moving average, it suggests short-term bullishness. If it trades below, it indicates potential weakness. - **200-Day Moving Average (200-MA):** A key indicator of long-term trend direction. If Paytm is trading above its 200-day MA, it would indicate that the long-term trend is positive. #### **Momentum Indicators:** - **RSI (Relative Strength Index):** The RSI gives an indication of whether the stock is overbought or oversold. If the RSI is above 70, the stock could be overbought, and if below 30, it could be oversold. - **Current RSI:** If RSI is nearing 70, it may signal that the stock is approaching overbought conditions. - **MACD (Moving Average Convergence Divergence):** - A positive MACD (where the MACD line crosses above the signal line) would suggest bullish momentum, whereas a negative MACD would signal weakening momentum. #### **Volume Analysis:** - **Volume Trends:** Rising volume during price increases signals strong buying interest. If the stock rises without a significant increase in volume, it could indicate a lack of conviction behind the move. - **Volume Spikes:** A large volume spike near key support or resistance levels could signal the initiation of a breakout or breakdown. --- ### **Conclusion:** - **Fundamental Strengths:** - Paytm is a leader in India’s digital payment sector, with a massive user base and a wide array of services. - The company is expanding its reach in financial services, which could drive growth in the future, though profitability remains a concern. - **Technical Outlook:** - The stock has experienced significant volatility since its IPO, with key support levels at ₹600-₹620 and resistance levels near ₹750-₹770. - Paytm’s ability to sustain a bullish trend will depend on breaking through resistance levels and maintaining strong volume on upward moves. #### **Risks to Watch:** - **Profitability Concerns:** Paytm’s high marketing and operational expenses could continue to weigh on profitability in the short term. - **Competition & Market Sentiment:** Paytm faces competition from established fintech players and changing market dynamics, which could affect its market share and valuation. --- **Disclaimer:** The information provided is for educational purposes only and should not be construed as financial or investment advice. I am not a SEBI-registered advisor, and this analysis is not a recommendation to buy, sell, or hold any securities. Accuracy and timeliness of the data cannot be guaranteed. Always conduct your own research or consult with a professional before making investment decisions. I do not take responsibility for any losses incurred.
NSE:PAYTMLong
by Globaltradehub
MotilalofsLet's dive into the **technical analysis** for **Motilal Oswal Financial Services Ltd. (MotilalOswal)** based on typical indicators and technical tools. Again, since I don’t have real-time market data, the analysis provided below is a general framework based on how you can approach the analysis. --- ### **Technical Analysis of Motilal Oswal Financial Services Ltd. (MotilalOswal)** #### **1. Support and Resistance Levels** - **Support Levels:** - These are areas where the stock has historically found buying interest and reversed direction. Look for recent lows. - **Example Support Levels:** If Motilal Oswal recently bounced around ₹1,000 or ₹950, these could be seen as key support levels. - A breakdown below these support levels could signal further weakness and a potential downtrend. - **Resistance Levels:** - Resistance levels are price zones where selling pressure has historically emerged. If the stock has had difficulty breaking through ₹1,150 or ₹1,200 recently, those could act as resistance zones. - If the stock manages to break above these levels with strong volume, it may signal a potential upward breakout. #### **2. Moving Averages (MA)** - **50-day MA:** The 50-day moving average helps assess the short-term trend. If the stock is trading above this level, it indicates short-term bullishness. If below, it may indicate short-term bearish momentum. - **Example:** If the stock is at ₹1,100 and the 50-day MA is ₹1,090, it suggests short-term bullish momentum. - **200-day MA:** The 200-day moving average is considered a long-term trend indicator. If the stock is trading above it, it indicates a bullish long-term trend; if below, it signals a bearish trend. - **Example:** If the stock is at ₹1,100 and the 200-day MA is ₹1,080, it indicates a bullish long-term trend. #### **3. RSI (Relative Strength Index)** - **RSI Levels:** - **Above 70:** The stock is potentially overbought, indicating that it may face a pullback or consolidation. - **Below 30:** The stock is potentially oversold, suggesting it may be due for a reversal or upward movement. - **Current Example:** - If the RSI is at **75**, the stock might be in overbought territory, signaling a potential pullback. - If the RSI is at **25**, the stock could be oversold, indicating a possible bounce or reversal to the upside. #### **4. MACD (Moving Average Convergence Divergence)** - **Bullish Cross:** When the MACD line crosses above the signal line, it typically indicates an upward trend or buying signal. - **Bearish Cross:** When the MACD line crosses below the signal line, it signals a potential downtrend or selling signal. - **Current Example:** - If the MACD line is above the signal line, it suggests a bullish trend for Motilal Oswal. - If the MACD line crosses below the signal line, it may signal a bearish move. #### **5. Volume Analysis** - **Increasing Volume:** When the stock rises with increasing volume, it suggests strong buying interest, confirming the price movement. - **Decreasing Volume:** If the stock rises or falls with decreasing volume, it may signal a weakening trend. - **Current Example:** - If the stock is pushing higher with increasing volume, it indicates strength in the upward move. - If the stock is declining with rising volume, it could indicate that the downtrend is strong. #### **6. Candlestick Patterns** - **Bullish Patterns:** Patterns like **Hammer**, **Bullish Engulfing**, and **Morning Star** during a downtrend suggest potential reversals to the upside. - **Bearish Patterns:** Patterns like **Shooting Star**, **Evening Star**, and **Bearish Engulfing** during an uptrend signal potential reversals to the downside. - **Current Example:** - If a **Bullish Engulfing** pattern is formed near support, it could suggest a reversal to the upside. - If a **Shooting Star** or **Evening Star** pattern is formed near resistance, it could signal a reversal to the downside. #### **7. Fibonacci Retracement Levels** - Fibonacci levels are used to identify potential support or resistance areas during a pullback or retracement. The key levels are 23.6%, 38.2%, 50%, and 61.8%. - **Current Example:** - If the stock has moved from ₹950 to ₹1,150, check for pullbacks to the **38.2%** retracement level around ₹1,080 or **50%** retracement around ₹1,050. These could act as support zones for the stock to bounce back. --- **Disclaimer:** - I am not a SEBI-registered professional or licensed financial advisor. - All analysis, recommendations, and opinions provided are based solely on historical price data, patterns, and general market trends. - Any action you take on the basis of this information is at your own risk. Please consult with a licensed financial advisor before making any investment decisions. - Technical analysis cannot guarantee future results and may not be accurate in predicting market movements. - Market conditions and stock prices can be influenced by many factors, including external events, news, and economic data, which are beyond the scope of this analysis.
NSE:MOTILALOFSLong
by Globaltradehub
High Delivery Volume Not Meant For Bullishness Watch Carefully! When there is **high delivery of shares at a higher price**, it might intuitively seem bullish because it indicates strong buying interest. However, this scenario does not always mean a bullish outlook. Here's why: ### 1. **Distribution by Smart Money** - **What happens:** Institutional investors or smart money (like mutual funds or big players) may offload their holdings at higher prices when retail investors or traders rush to buy, believing the stock will go higher. - **Why it's not bullish:** This often signals that the "smart money" believes the stock has reached or is close to a peak in the short term and is using the demand to sell their holdings. --- ### 2. **Profit Booking** - **What happens:** After a strong rally, many investors take profits at higher prices, leading to increased delivery volumes. - **Why it's not bullish:** The high delivery does not indicate fresh buying but rather the transfer of shares from long-term holders to short-term traders, which could lead to a correction or consolidation. --- ### 3. **Trap for Retail Investors** - **What happens:** In some cases, large players might intentionally create artificial demand by pushing prices higher, only to sell their holdings to retail investors (this is often called a "bull trap"). - **Why it's not bullish:** Once the selling pressure begins, the price tends to drop, leaving latecomers (retail investors) stuck with expensive shares. --- ### 4. **Exhaustion of Demand** - **What happens:** At higher prices, most buyers may already have entered the market, leaving fewer participants to push the price higher. - **Why it's not bullish:** With demand exhausted, selling pressure can easily dominate, causing the price to stagnate or fall. --- ### 5. **Sector or Market Context** - **What happens:** Broader market or sector weakness might lead investors to lock in profits, irrespective of the stock's fundamentals. - **Why it's not bullish:** High delivery at higher prices might only reflect temporary interest due to broader market sentiment and not sustainable growth. --- ### Key Indicators to Confirm the Trend: - **Price Action:** Look for sustained upward momentum in price with high delivery. If prices are stagnating or declining despite high delivery, it signals bearish sentiment. - **Volumes:** Rising volumes with falling prices and high delivery often indicate distribution. - **Open Interest (in derivatives):** Increasing open interest in short positions along with high delivery at higher prices signals bearish views. --- ### Conclusion: High delivery volumes at higher prices need to be analyzed in conjunction with other factors like price movement, broader market sentiment, and institutional activity. Without these confirmations, it could simply indicate profit booking, distribution, or a bull trap—none of which are bullish signals.
NSE:CGCLShort
by TheGoldenFarmsofEquity
Man Infra Limited: Buy OpportunityTechnical Analysis: Man Infra Limited has presented a promising trendline breakout with high volume, signaling strong bullish momentum. The RSI is above 70, indicating robust buying pressure. This setup suggests a potential continuation of the uptrend. Trade Setup: Stop Loss (SL): 196 Target: 243 Fundamental Catalyst: The company has made remarkable progress, reporting total booking collections of approximately ₹14.75 billion ($176.56 million) as of September 24. This significant achievement reinforces the stock's positive outlook and adds confidence to the technical setup. With both technical and fundamental factors aligning, Man Infra Limited offers a strong buy opportunity for traders looking to capitalize on the ongoing momentum. Stay disciplined with the stop-loss level to manage risk effectively.
NSE:MANINFRALong
by kausar13n
1
Soma Textiles: Promoters Max Holding & Hammer Candle for upwards"Soma Textiles: Promoters Near Max Holding & Hammer Candle Indicates Reversal" Stock: Soma Textiles & Industries Ltd. Analysis: Soma Textiles is showing strong bullish signals, supported by promoter activity, excellent financial results, and recent high-volume buying interest. The stock has retraced to a key support zone at ₹53.19 and has formed a hammer candle, signaling a potential reversal. With a favorable macroeconomic environment for the Indian textile sector, this stock is positioned for further gains. Key Highlights: Promoter Activity: Promoters have increased their stake from 72.76% to 74.98%, nearing the maximum allowable holding of 75%. Institutional Confidence: FII/FPI Holdings: Increased from 0.00% to 0.04% with 5 investors now holding positions. Institutional stake doubled from 0.04% to 0.08%, reflecting growing interest. Volume Signals: Recent high-volume activity with appearances in bulk-buy filtered stock lists. Financial Performance: Quarterly Net Profit: ₹68 Cr, a 11653.4% YoY growth. Quarterly Revenue: ₹6 Cr, a 152.6% YoY growth. Sector Tailwinds: The Indian textile sector is expected to benefit from challenges faced by Bangladesh's textile industry. Technical Setup: CMP: ₹53.19. Hammer Candle: Indicates a likely upward move from this support zone. Volume Confirmation: Strong buying interest is evident. Trade Plan: Entry: Near ₹53.19. Target: ₹62 (short-term), with potential for more. Stop Loss: Below ₹46 to minimize risk. Disclaimer: This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
NSE:SOMATEXLong
by ImranulHaqueNoor
Nifty Trading Strategy for 02nd December 2024Nifty Trading Strategy "When the gap between S3 and R3 is narrow, the market tends to show a strong trend, either upward or downward." Buy Signal: Initiate a buy position above the high of the 15-minute candle that closes above 24225. This indicates a potential upward trend and a good entry point for long positions. Sell Signal: Initiate a sell position below the low of the 15-minute candle that closes below 24060. This indicates a potential downward trend and a good entry point for short positions. Support Levels: 23897: This is a crucial support level. If the price falls to this level, it might experience a rebound. 23440: Another significant support level where the price might find strong buying interest. Resistance Level: 24300: This is a crucial resistance level. If the price approaches this level, it might face selling pressure. Disclaimer: Trading in financial markets involves a significant amount of risk and can result in substantial losses. The information provided is for educational purposes only and should not be considered as financial advice. Past performance is not indicative of future results. Always conduct your own research and consult with a professional financial advisor before making any trading decisions. Additionally, please note that I am not SEBI registered.
NSE:NIFTY
by ramkkyy
Gold Rebounds: Focus on 2,546 Support & Russia-Ukraine TensionsGold prices rose on Monday (November 18) after six consecutive losing sessions as the rally in the USD paused and escalating uncertainty over the Russia-Ukraine conflict spurred safe-haven demand. Currently, gold is recovering after successfully testing strong support at $2,546, where the long-term uptrend intersects with potential buying zones. This positive signal reflects strong buying momentum, pushing prices back towards $2,620, near the EMA 34 and EMA 89, key dynamic resistances. If prices break above the $2,620 level, the next target could be the resistance zone at $2,791, where significant selling pressure awaits. With the Russia-Ukraine tensions showing no signs of de-escalating, gold prices could climb even higher in the future. Traders should closely monitor developments in this situation.
OANDA:XAUUSDLong
by Vanna-Cris
Broke Downtrend Resistance Zone Now Looking Very Strong ✅The stock has broken out of a symmetrical triangle pattern a formation that typically signals a continuation or reversal of a trend. The breakout above the upper trendline indicates that buyers have regained control and the stock is poised for further upside. This move marks the end of the consolidation phase and suggests a potential rally. ✅The stock has been making higher low indicating accumulating buying interest at each dip. This consistent buying pressure has led to the breakout signaling a shift towards a bullish trend. The breakout was accompanied by a significant spike in volume confirming the strength behind the move. This suggests that the rally is backed by strong buying interest likely from institutional participants which adds credibility to the breakout. ✅ The RSI is currently at 67 reflecting a solid upward momentum. Although it’s approaching the overbought zone, it still has room to climb, especially if the bullish momentum continues. Traders should watch for any consolidation at current levels, which could act as a springboard for further upside. ✅The next resistance level is around 570-580 where some profit booking might occur. However if the stock continues to gain momentum and clears this level we could see it move toward 600, followed by 620. These levels align with the height of the symmetrical triangle pattern offering a clear target range.
NSE:RSYSTEMSLong
by Marketik
3
Reliance Industries: Opportunity in a Demand Zone ConfluenceReliance Industries Limited (RIL), one of India’s largest conglomerates, has recently experienced a drop in its share price. In the second quarter of FY25, the company reported a 5% decline in consolidated net profit, down to Rs 16,563 crore. While this has weighed on the stock price, it also presents a buying opportunity for traders. Chart Analysis: A Confluence of Demand Zones Let’s take a closer look at the technical picture. If you analyze the weekly chart of Reliance Industries, you’ll notice that the stock is currently trading in a demand zone . This zone is an area on the chart where there is strong buying interest, and it could potentially support the price, leading to a bounce. What makes this setup more attractive is that the stock is also sitting in a daily demand zone , creating a confluence between the two timeframes. Confluences like this increase the probability of a successful trade since multiple factors align in the same direction. Entry 1: Reversal Candlestick Pattern at the First Demand Zone The first potential entry point for a trade comes from the RBR (Rally-Base-Rally) zone , which is the current demand zone on the weekly chart. If you observe a reversal candlestick pattern , this could signal the start of a move higher. Wait for a confirmation of the reversal pattern before entering the trade. This pattern could serve as a signal that the market is ready to rally from the current demand zone. Let’s call this Entry 1 . Entry 2: The Second Demand Zone - A Stronger Opportunity If the price continues to drop, there’s a second RBR demand zone below the current one, and this could provide an even better buying opportunity. What makes this zone particularly strong is that it coincides with a previous resistance level, which could now act as support again . This is known as the Act of Polarity , where old resistance becomes new support & this is also confluence. Entry 2 is compelling because the stock had previously been in a tight consolidation, and this demand zone formed as the price broke out of that consolidation. Now, as the price approaches this zone again, it’s a high-probability area for a bounce. For Entry 2, you can place a stop-loss just below the demand zone, allowing a small buffer. This will protect your trade if the price falls further. Your first target could be the daily supply zone around 2928. Despite recent setbacks, Reliance remains one of the strongest companies in India, with diversified business interests across sectors like telecom, retail, and energy. The current pullback is more of a short-term correction rather than a sign of fundamental weakness. The confluence of demand zones on the weekly and daily charts offers traders a high-probability setup in Reliance Industries. While waiting for a reversal candlestick pattern at the first demand zone is a more conservative approach, the second demand zone presents a stronger opportunity due to confluence of its location at a previous resistance level, which now acts as support. Proper risk management with a stop-loss below the second demand zone ensures that traders are protected if the price drops further. Lastly, thank you for your support, your likes & comments. Disclaimer: This analysis is purely for educational purposes and is not intended as a trading or investment recommendation. I am not a SEBI registered analyst.
NSE:RELIANCELong
by AfnanTAjuddin
2
AWHCL: A bullish pennant breakoutAWHCL has recently exhibited a breakout from a bullish pennant pattern on the daily chart. The breakout from the bullish pennant pattern is characterized by a significant price movement beyond the upper boundary of the pennant. This breakout is often seen as a signal of a strong buying interest and can lead to sustained upward price action. The stock has closed above the previous week's high, a critical technical level that reinforces the positive outlook. This closure suggests increased buying pressure and establishes a strong foundation for potential growth. AWHCL presents an attractive opportunity within the demand zone of 760-770. This area has historically demonstrated robust buying interest, indicating a potential reversal or support point for the stock. Based on current price action, the next discernible supply zone is projected to be around the 899 level. This zone may act as a resistance point where profit-taking could occur, thus requiring careful monitoring as the stock approaches this area. Based on the technical setup, AWHCL has the potential for an approximate 15% upside from the demand zone. A prudent stop-loss level may be below 731 to mitigate risk in case of adverse price movement. Disclaimer: The information provided in this technical analysis report is for informational and educational purposes only and should not be interpreted as financial advice. Investors are encouraged to conduct their own comprehensive research or consult with a financial advisor before making any investment decisions.
NSE:AWHCLLong
by NiftyNotions
Diverse Trading Strategies for UGRO Capital LtdUGRO Capital Ltd is currently exhibiting a symmetrical triangle pattern, characterized by converging trend lines drawn in black. This technical formation is indicative of a potential continuation or reversal pattern, often signaling an impending breakout, either upward or downward. Within this chart pattern, the upper trend line serves as a short-term resistance zone, while the price action has encountered difficulties in surpassing this level. A counter-trendline, represented by a dotted black line, suggests an attempt to break free from the prevailing downtrend; however, the stock continues to face resistance from the upper trend line. The stock has demonstrated notable resilience, establishing multiple support points, clearly identified by the blue line on the chart. These instances of price bounces indicate a consistent level of buying interest and present evidence of the stock's strength. The formation of higher lows during this period signifies a bullish sentiment, suggesting the potential for upward price movement. MACD & RSI values also denotes strong buying pressure and suggests a significant potential for price reversal. Recent trading activity shows a significant surge in volume over the past two days, substantially exceeding the average trading volumes. This spike is a critical sign of accumulating buying pressure, further supporting the bullish outlook for UGRO Capital Ltd . Increased volume during price ascents often serves as confirmation of the strength of the momentum. While the current technical indicators present a constructive outlook, a definitive breakout can only be confirmed when the stock price successfully clears the upper trend line resistance. Upon achieving this milestone, the next target of interest will likely be the established resistance level at 299, which could be revisited in the foreseeable future if bullish momentum continues. Disclaimer: The information provided in this analysis is purely for informational and educational purposes and should not be construed as financial advice. Investors are strongly encouraged to consult with a qualified financial advisor or conduct thorough research prior to making any investment decisions.
NSE:UGROCAPLong
by NiftyNotions
AMBER - Cup and Handle -Breakout - Good Vol -Daily Here's an analysis of the key features: 1. Overall Pattern: The stock has formed a large cup and handle pattern over the past year, with the handle recently completing. 2. Recent Price Action: - The stock has broken out of the cup and handle pattern with a significant bullish move. - Current price is 4,994.65 INR, up 14.88% on the day, indicating strong buying pressure. 3. Key Levels: - A major resistance level at around 4,633.90 INR has been broken, which could now act as support. - The previous high of 5,187.95 INR (marked as "High" on the chart) has been surpassed. 4. Volume: - There's a substantial spike in trading volume coinciding with the breakout, supporting the bullish move. - The volume is significantly above the volume moving average, indicating strong buying interest. 5. Price Targets: - The chart shows a potential long-term target of 6,281.05 INR. - This target represents a potential gain of 35.42% from the breakout point. 6. Support Levels: - The previous resistance at 4,633.90 INR should now act as support. - There's another support level at 4,382.00 INR, which was the low of the breakout candle formation. - There's another support at 4,006 INR, which is low of the box formation. 7. RSI (Relative Strength Index): - The RSI at the bottom of the chart shows an uptick, confirming the bullish momentum. - However, it's not in extremely overbought territory, suggesting there might still be room for further upside. 8. Historical Context: - The stock has been in an overall uptrend since late 2023, with the cup and handle formation developing over this period. - The current move represents a significant breakout from this pattern. Overall, the chart presents a bullish outlook for Amber Enterprises (I) Ltd. The breakout from the cup and handle pattern, supported by high volume, suggests potential for further upside. The next key level to watch would be the target at 6,281.05 INR. However, traders should be cautious of potential short-term pullbacks due to: 1. The large single-day move (14.88%) 2. The stock being at all-time highs, which could lead to some profit-taking It would be prudent to watch for how the stock behaves around the current level and whether it can hold above the broken resistance at 4,633.90 INR in case of a pullback. The strength of the move and the volume supporting it suggest that any pullbacks might be seen as buying opportunities by the market.
NSE:AMBERLong
by VCharts_TA
TV18 Broadcast Ltd - Technical Analysis OverviewMoving Averages: 20-day EMA: ₹46.93 50-day EMA: ₹48.33 100-day EMA: ₹49.26 Momentum Indicators: MACD: Positive, with the MACD line crossing above the signal line, indicating rising buying interest and momentum. RSI: In the neutral zone, meaning the stock still has room for growth without being overbought, maintaining the potential for further upward movement. Support and Resistance: Support: Strong support around ₹46 based on the 20-day EMA and prior price action. Resistance: Immediate resistance at ₹52. If the stock breaks through this level, the next resistance would be at ₹60. Why TV18 Broadcast is a Buy: Bullish Trend: The stock is in an uptrend, with clear support from moving averages. Positive Momentum: Both MACD and RSI suggest strong buying momentum, indicating that the stock is likely to continue its upward trajectory.
TLong
by iampatilkishor
Whales Return to Quant: Are We Seeing a Market Revival?Whales Return to Quant: Are We Seeing a Market Revival? Qunat price DAA divergence metrics highlights a positive divergence in the recent sessions. Whales have accumulated significantly 0.5% of the total supply indicating large players' comeback. Quant price made a strong rebound from the lows indicating a buyers comeback. At the time of writing, Quant was exchanging hands close to $68.23 recording an impressive 13.5% jump in intraday. Moreover, this bounce has added some relief to the Quant investors who were in a state of extreme fear due the price drop and panic in the broader markets. Earlier, Quant had been in a correction phase for the last couple of months which may be flipped and the price may head for a recovery. In tandem with price rebound from the lows the analysts have noted a significant shift in the on-chain metrics which could further enhance the price. Whales Are Back To Buying: Analysts Though the Quant price has reacted bullish in the last couple of sessions and has jumped nearly 20%. However, the analysts noted a significant activity in Quant right from the start of September i.e. a week ago. As per the analysts, the top addresses also known as whales have started to accumulate Quant near the lows. Whales are the players with more capital and more resources, hence they tend to be on the right side of the trend for the most of the time. As on 1st September 2024, the whales were holding nearly 24.08% of the total supply which has increased to 24.58% as of now. The whales have accumulated nearly 0.5% i.e. 74.4K QNT tokens in a week. Furthermore, as per the data obtained by an on-chain analytics website app.santiment.net, there has been a development of positive divergence between QNT price and DAA (Daily active addresses. The price DAA divergence is a metric which reflects the change in the bullish or bearish divergence created between the price and daily active address. A bullish divergence indicates the buyers comeback at the lower levels which could trigger a recovery in the crypto. Is Quant Preparing For A Bull Run In September? From the daily chart it is evident that QNT has been suffering a correction phase since March with sellers leading the trend. However, the scenario may flip as the buyers as well as the large players seemed to be accumulating in the recent sessions. Looking precisely over the price pattern, a consolidation may be observed in the last couple of weeks with bulls leading close to $50 level whereas the bears have established themselves near the $70 level. A strong buying in the last couple of sessions highlights the buyers intention for a breakout. Now, a sustained breakout above the $70 level may validate a bullish reversal in the short term creating a potential run towards the 200 day EMA. The long term view may shift to bullish if the price conquers 200 day EMA and sustains above it. However, it requires more buying volume to break the recent supply of $84 level at 200 day EMA. Also, the buyer's failure to make a reversal may invite sellers at the higher levels and the price may head towards the August lows. The technical indicators suggest a bullish continuation in the short term.
CRYPTO:QNTUSDLong
by Ritika_TCR
USDJPY Adjusts, Forms New Resistance, Awaiting Signals from BOJCurrently, USDJPY is adjusting after breaking out of a downward channel, creating a new resistance zone at 145.000 and showing signs of a potential reversal. The EMA 34 and EMA 89 lines are currently above the price, acting as dynamic resistance levels and applying downward pressure. The key support zone lies around 143.500. If the price drops to this level and strong buying pressure emerges, we can expect a potential rebound from here. Traders should closely monitor price action at key support and resistance levels. Entering buy or sell positions should be based on clear price action or technical signals. On the news front: The Japanese yen stabilized on Thursday after a strong rise earlier in the week, driven by bets that the Bank of Japan will further hike interest rates this year following a series of tightening signals from BOJ officials.
by Romio_pro
1
Cello Worlds Ltd (Long Trade setup)NSE:CELLO Company Overview: Cello World Ltd Cello World is a leading Indian consumer product company mainly dealing in writing instruments and stationery, molded furniture, consumer housewares, and related products Technical Analysis: Support from Trendline and Rising Channel Formation: Cello World Ltd has shown strong technical patterns, including support from a trendline and a rising channel formation, indicating bullish momentum. Trendline Support: The stock has consistently bounced off a well-defined upward trendline, suggesting strong buying interest at lower levels. Rising Channel Formation: The price movement has been contained within a rising channel, characterized by higher highs and higher lows, which typically signifies a bullish trend continuation. Investment Idea: Buy Setup : Entry: Buy above 900 levels, as this confirms strength in the ongoing uptrend and breaks through potential resistance. Targets: Initial targets are set at 975 and extended targets at 1075, reflecting potential upside based on the current technical setup and market conditions. Stop Loss: Place a stop loss below 870 to manage risk, ensuring protection in case of a reversal or unexpected downturn. Conclusion: Cello World Ltd presents a compelling technical setup with support from a trendline and a rising channel formation, suggesting a bullish outlook. Investors could consider entering the stock above 900 levels, targeting 975 initially and potentially extending gains to 1075, while managing risk with a stop loss at 870. Always consider market conditions and your own risk tolerance before making investment decisions. Thanks & Happy Trading S_Rawat Disclaimer: This idea is shared for educational purposes and should not be interpreted as financial advice. Please conduct your own research and consider your individual financial circumstances before engaging in any trading activity.
NSE:CELLOLong
by S_Rawat
2