gold mcx or spot breif analysis blweys on trend line support 59900 if stya lw or close blw u will see 59780-710 or bwl 59600 game over soon 59120++++++ or if hold abv 59900 thna mkt must fill gap till 60500@ over all 61222 or 2032$ strong hurdel for up side abv may be zoom will start let see in mkt hrsssssssss
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my pre market journal for nifty 6/4/23nifty has broken the previous high of 17530 and has given closure above 17550. however after a 3 day wining streak I am expecting a sideways to lower closure on expiry day today. more over there is an RBI policy meeting outcome. any increase in rate of more than 25 basis point will pull the markets down and if RBI chooses to maintain the rates then we can see a zoom up.
as per OI buildup data, the trading can be in range of 17450-17700.
expecting a lower opening at about 17750. in case market moves up above the high of yesterday (17570), the enter long with SL of 17550 for targets 17600/643/176/700.
if break sown below 17530, the enter short trade with SL at 17550 for targets of 17487/450/420.
I am waiting till RBI meeting outcome before entering the trade to avoid being caught in any jerky movements.
GBPUSD Trading setup 16.03.2023*As i marked the hogh probability POI zone *market touchs this zone and start moving downward
*Market already gives CHoCH and make an INDUCEMENT
* After taking inducement we take multiple entry on sell side as per risk appetite.
I enter this trade after taken out the minor liquidity taht i draw a line on char that you can understand better way.
Now i use 4hr time frame and entry will be 15min timeframe because we must check the lower timeframe for taken out inducement thank uou
**Pls zoom the position and compare to my line chart that you can understand better..
Is Goldbees in your portfolio useful ?I recently heard few comments from some of successful investors that having gold does not really help in hedging portfolio. While expert stock pickers may be right that their portfolio does well in any weather. For small investor it is not easy. I have plotted gold vs niftyjr as my choice is to invest in niftyjr.
Since I have been using gold as one form of cash component ie when not invested in equity I park partially in goldbess and debt funds, Also got reasonable returns in gold while equities were in correction phase. One such phase is currently going on.
So thought of checking out on historical chart.
To appreciate you need to zoom so that blue or red area fills your screen.
gold bees that I bought in july/aug 21 is available for adding niftyjr in this fall.
Bank Nifty levels for Friday(Back into Choppy Zone)Banki Nifty back into choppy zone and you know what to do Selll high Buy low scennario apply, no trades in between.
Levels mentioned in chart Red bar is Resistance and Green bar is support areas.
Keep it simple nothing fancy on charts you only need support and resistance to trade now market structure is balanced. Keep eye on levels how price behaving at that level with price action.(double top,tripple top, HH,LL, Pin bar etc).for precise entry zoom into lower level time frame for clear picture.
RATEGAIN - Possible BOSlowly moving towards higher highs.
Previous month -- we can see repeatedly trying to move above 312-316 levels and failing multiple times.
From current levels - next target is 310. And once cross the previous month's High - we can see a quick upside .. and Zoom to much higher levels.
Add to watchlist.
BPCL - Refill Fuel tank before zoom Pls note: This is completely my perception.
NSE:BPCL
BPCL seems to be on continuous raise from 290 levels with correction and again forming Higher Highs.
356 will be one minor Hurdle - if the cross sustains this level -- we should see strong upside candles in a short period.
Based on the Below chart -
From a Monthly Futures perspective - BPCL's current series VWAP crossed the Previous MOnth's VWAP and also took support from the current series.
From a Daily closure perspective - trying to take off Monthly HIgh - Once this is done & closed above 356 -- next target will be 396.
Add to watchlist --
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The company is slowly advancing towards its mission to disrupt the industry with a clear vision to occupy a safe position in the growing boom.
CRTL has everything a small business must have: the brand, the customer base, the volume, and the vision, and its demand in 2023 has already hit its peak, with more shipments left for the coming quarter. The shares are back at the desired price of $0.00115 with firm support and will zoom past analyst expectations in the coming days.
PostMortem on BankNifty Today & Analysis of 16 DEC 2022Remember yesterday's discussion around the 43255 support region, thats exactly where bank nifty opened today - 43261.
Had a real eventful expiry today, with almost a 500+ pts fall from 14.20 to close. Yesterday we discussed about a roof…banknifty.medium.com
The 1st candle took support and closed the gap, the 2nd and 4th candle also closed in green taking bank nifty to green. US market - SPX ended yesterday with cuts of 2.49%, so it was quite sure bank nifty will not be able to sustain in green that long.
The first leg of downfall came from 09.35 to 10.50 where BN lost 1.17% approx 509pts. I personally felt we will fall further, atleast another 250 to 300pts. But here is where our market resilience came into being.
BN traded higher from 12.05 to 12.50 to make a retracement high of 43443 - this is 62% retracement of the HOD 43598. From this level BN traded lower ie from 12.55 to 14.00 - but the inability to break the support decisively is strongly noted.
There was one green candle at 14.05 that seemed like is breaking the bearish pattern - but it resulted in further shorting and BN came to 43103 by 14.55. Also note that BN did not make a lower low after the morning fall - which needs to be taken in positively.
Also the final fall is only 0.64% comparing to what the US markets fell yesterday, Asian markets today and how the European markets are falling now.
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Of the bank nifty components:
HDFC bk was continuing yesterday's chart pattern till 10.55 after which it reversed direction and closed the day with gains
ICICI bank helped bank nifty go green in the opening 20mts, but from there it had a flattish pattern with some minor downward slope. 13.35 it fell underwater but the last 30mts there was some recovery.
SBI was perfectly continuing yesterday's chart, made a pause at 10.25 and then the 2nd leg of fall at 12.55 to close.
AXIS also helped BN with the opening minute gains when there was a big jump in prices. But this was quickly given up - hit an intraday low at 11.55 and then recovered from there & ended the day flattish
Kotak was also following yesterday's price action. There was an attempt to go above water at 12.35 but it was sold into. Final closing was in red.
Indus Ind also was continuing the chat pattern from yesterday.
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SPX opened yesterday right at the support level and then broke it and traded lower. There was no attempt to fill the gap or even break the resistance.
4 hourly candles in red showing strong pessimism, then a green doji and then a green recovery candle at 14.30. The closing candle was also in red.
The final close of the day was in midway from the nearest support - 3813 and nearest resistance 3945
If the sentiment stays as it is - we may be able to see SPX breaking down from this range.
Even though SPX has fallen so much in percentage terms, our indices bank nifty and nifty50 is yet to react. NiftyIT is continuing to take the beating meanwhile. Also our VIX is still in 14 range comparing to 24 levels in US.
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We discussed about the 15mts and 1hr TF yesterday. The support level of 43255 has to be broken decisively to go short. The chart pattern below may show a close below that level - but its again too early because bank nifty wasnt as bearish as shown on chart.
1D vs 1W TF not showing any bearish trend yet.
Lets zoom in the 1D TF - on 14th i tried mentioning about an evening star pattern forming
Its become business as usual for bank nifty to take out the all time highs - new ATH is now 44151. Today bank nifty…banknifty.medium.com
Well, it makes sense now as the candle of 15th was red and today's was a doji. Still too early but we can start wearing the bearish socks now !!!
MCX BREAKOUTMCX is looking strong on weekly chart by breaking falling and horizontal resistance trendlines both with good volume jump in it and Bollinger bands is also giving a breakout looking supported for coming bullishness in this stock.
Cause of Long-:
1- Falling resistance trendline breakout.
2- Horizontal resistance trendline breakout.
3- Bollinger Bands breakout.
l & t infotech looks great in a 6months time frameit looks great in its 6 months time frame and it will zoom up in april.
Bank Nifty Cmp 41687 dated 7-11-2022 ZOOM Above 41850Bank Nifty Cmp 41687 dated 7-11-2022
1. Ascending Triangle Pattern
2. Resistance @ 41850
3. RSI on verge of BO
Buy above 41850 for target 44500 SL 40800
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
IRB Infrastructure AnalysisHello everyone!
We say market will be strong in coming days when most of stocks start looking strong on chart, one such chart is of IRB infrastructure. In IRB infrastructure we will do monthly-weekly-daily chart analysis and look at smaller time chart like 1hr and 15min to find out our entry.
Monthly : Stock is testing its 12 year long trendline and also Cup & Handle formation is in process.
Weekly : Stock is consolidating in a triangle pattern of which, trendline is already being tested thrice.
Daily : Reverse head and shoulder formation in process(breakout is pending).
From monthly Cup & handle we get a target of about 500, but that is possible only when it give monthly candle closing above its 12 year long and strong monthly trendline which we can see when its weekly trendline is broken (as target for triangle pattern breakout is highest point of the triangle i.e.,320). Looking at the head and shoulder of daily chart, once it is broken we can expect a target equivalent to its head length i.e., 290 which will result in weekly trendline breakout. So summarizing all we can expect a target of 500 once in daily chart head and shoulder will be broken out.
Now we will look in smaller time frame to find out if we are getting ang sign of strength in this stock.
In hourly chart stock has taken support at its six days trendline and RSI is also consolidating near 40 from past 10 sessions. If we further zoom in we can see that in today's session(5th Nov) in last 15 min it has given breakout from a Cup & Handle, which is further confirming the strength.
I am also considering this stock since now we are getting a very good risk to reward as SL will be below 15 min Cup & Handle, which is only 4%.
NOTE : It is not for sure that once it will give breakout from reverse head and shoulder in daily chart it will go up to 500(it only indicates to go up to 290), but since we are entering at a very reasonable place we can hold it for that by trailing our SL(how to do that we will discuss on some other thread) or we can book our profit partially at 290(daily breakout target), 320(weekly breakout target) and hold rest for 500(monthly breakout target).
THANKS!
Nifty Short Term View.Things to Remember:
-->I am neither a Bull nor a Bear and I believe in the term "Correction" rather than "Crash".
-->No one was correct/is correct or will be correct all the time.
-->Particularly these wave analysis may go wrong at anytime that too with a novice like me high chance.
-->With the same data / charts available there will be another analyst, he/she will be having other opinions.
-->So Trading is quite difficult.
-->So my plan here is to give my point of view and it will change with time accordingly.
-->Zoom in/out and keep the chart as comfortable as possible I have drawn as few lines as possible to make you understand
Nifty Short Term View:
-->What if 15200 is start of an impulse wave?:
-->From 15200 to 18100 level will be consider as an impulse wave(Green Eclipse) (itself having several sub waves in shorter time frames).
-->Practically after a wave 1 ,wave 2 will be a corrective wave and it can retrace back to any where near 38.2% to 100% of wave 1 .
-->Wave 2 will be a corrective structure of 3 sub waves. (WXY) as shown in the chart.
-->Now W wave has 3 sub waves and structure is completed.
--> X wave is sort of forming a horizontal triangle
-->Price touching "d" and retracing back to 17300 level will complete this triangle pattern.
-->If the triangle pattern breaks down as shown in the figure and if next wave "Y" can have a same projection as "W" then can complete following structure as shown in the chart
-->This will indeed complete the wave 2 of larger time frame by coming inside 61.8% od wave 1.
-->What if Nifty gives closing above 17430 - 450 levels ?
--> Better to cover all shorts and I will looks into my charts all over again!
-->In these volatility it's better to trade at the extremes with low SLs. Plan the trade Trade the plan
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly. Expecting as low as 10 follows for this work 🙏🙏🙏.