Today was an important day for a stock market participant whether he is a trader, an investor, retail or from an institution. The last 2 days of weekends must have been spent on analyzing, number crunching and strategizing by analysts of big institutions. A lot were waiting to see which direction market takes from hereon. Nifty today opened with a big gap of 268...
Today I felt like writing an obituary... of indian stock market! I wrote yesterday that it would fall even today based on data and indicators that were available, least did I know the fall would be so severe. And if you see the list of Nifty losers, the highest loser Yes Bank fell by 13.9%, 2nd, Vedanta by 7.8 % and 3rd, Indiabull housing by 6.8%. The High...
The British pound has seen a strong bullish reversal against the US dollar, following the release of positive Brexit news on Tuesday. The recovery from the 1.2080 level has shown that short-term bulls are back in control of the GBPUSD pair and may soon target the 1.2200 level. Given the sentiment shift in the GBPUSD pair, buying dips is current the preferred...
The US dollar has staged a huge recovery against the Japanese yen currency following the suspension of the latest US trade tariffs on China. The move towards the 106.90 level has provided an excellent swing trade for USDJPY bears, with the 105.00 level a solid target. Only a sustained move above the 106.90 level will start to shift the USDJPY pairs short-term bias...
The British pound has opened the week on the back foot against the greenback after a heavily bearish price close below its former yearly trading low. The 1.2350 level offers the most significant technical support for the GBPUSD pair below the 1.2380 level. Bulls have major work ahead to move the GBPUSD pair back the 1.2525 resistance level to shift the bearish...
We may see a correction (50% retracement) at 11100 zone, which might be the confluence of oversold zone previously observed in previous three correction. The angular shift can be compared with (1-2) wave. Then we may see another third wave.
The recent down turn for the Nifty index has lead to a reversal in the underlying trend and also shift of momentum towards selling. Simple channels drawn using the RSI indicator clearly shows that the index if it dips further down will see a retest of 11,400 -11,450. Nifty traders should look for swing short opportunities in the index.
The British pound has staged a minor technical recovery against the US dollar after the pair quickly fell towards the 1.2623 level over reports that British PM Theresa May could soon quit. Further medium-term weakness is still expected while the GBPUSD pair trades below the 1.2660 level, with the 1.2550 level is still the overall bearish target. Bulls will need to...
Nifty moved up by more than 400 points in a single day after #2019ExitPoll. Upward thrust was so strong that 45 out of 50 stocks of Nifty closed above previous day close. Today market opened above yesterday's close and day high by significant margin but couldn't sustain it and closed near today's low. Dark cloud cover pattern has emerged on daily chart which is a...
Litecoin is once again testing towards the best levels of 2019, with the sixth largest cryptocurrency facing formidable resistance from the $100.00 level. The Ichimoku indicator is showing that the LTCUSD pair is pushing through cloud resistance on the weekly time frame. Sellers need to move the price below the $77.00 level to shift the current bullish bias...
Ethereum has moved to a new 2019 trading high, with the second largest cryptocurrency by market capitalization receiving a boost from the recent breakout rally in Bitcoin. The first bullish target for the ETHUSD pair is the $230.00 level, with the $270.00 level extended weekly resistance. Sellers need to move price below the $185.00 level to shift the strong...
Gold made a new low before settling near the highs for the week. Again it was a $20-$22 ranged week where gold posted gains of $13 which can be considered as a retracement from the lows as prevailing situations did not alter much to enable a shift in the trend. The week has important fundamental events with the spotlight on Fed’s interest rate decision which will...
Gold continued to consolidate in a $20-$22 band with actual movement being less than a dollar maintaining the bearish momentum. The highs were sold into as risk-on re-emerged strongly owing to fundamental developments and better than expected data from America. The bar created looks very bearish and fresh lows are expected as tensions around the globe seem to take...
1) Flag breakout; retesting the trendline 2) Delivery Volumes on recent 10% falls were low 3) Yesterday it bounced back from trend line with large volume 4) Recent results were good Negative - RSI on daily still in oversold and shows a range shift 2) Share pledge
Maple Tree Log Tr breaking Resistance level of 1.30. Stock made low around 1.18 and shift upwards after forming Doji around this level. Stock is rising in uptrend with strong momentum. Momentum indicator like RSI also rising current value pointing to 65.0 level. Stock can rise till 1.35-1.38 with support comes around 1.23-1.24
1) Made higher high and lower low 2) Results were better and split of business 3) broke downward trendline 4) RSI range shift and divergence
Brent oil prices are down by more than 13.00% from October high’s and lost all the key MAs. Selling pressure remains very strong; a descending channel is still evident in the daily chart. However, turning to the daily indicator, RSI study reached an oversold level; currently sits at 30.0 and the oscillator is trying to form a base sooner. Technically speaking,...
Tata Motors CMP 170.65 Last year in Sept 2017 when the stock was around 415 levels, we had highlighted that charts were indicating difficult times ahead for Tata Motors And - at current levels and on further dips the stock looks good from long term perspective (and I mean really long.... Can be looked for objectives like retirement planning, child...