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NIFTY-Weekly Outlook-Venkat's BlogThough the Bulls were in control, there seems good supply coming in at higher levels. The Index was struggling to cross the key resistance at 22520-30 region. However, on the weekly Option expiry day it opened with a gap and then slid all the way to the lows of the week and finally closed higher. Now that the Index is back in the original channel and is expected to consolidate before taking further direction. The price action as well suggests the likely consolidation phase. A few observations from the weekly charts are: The index moved in a narrow range of 316 points viz. between 22303 and 22619 The oscillators of different time frames are stretched and showing mixed signals Option open interest to drive the direction of the market Expected scenarios for the ensuing week Volatility and choppy moves likely to continue Index regaining the 22220 a positive sign Additional interesting observations Index posted a bullish candle and re-entered the minor trend channel and made a new ATH Index may find supports at 22370, 22220, 22170 and the index could face series resistances at, 22620, 22740, 22870 There were multiple gaps created during this dream run. The levels were repeatedly mentioned in the previous blogs. Since they are far away for now, they will be inserted back when relevant Final Note The Index has stayed well above 55 DMA at 21995 and the 200 DMA at 20473 The weekly charts suggest that the Index is back in the previous channel after bouncing back from 55DMA The notable observation is that the daily charts show signs of turn-around of Oscillators and expect 21220 to hold. Most likely scenario would be a consolidation between 22220 & 22740. Breach on either side requires reassessment of risk In the past few years the April month has produced higher levels yet the closing has been mixed. It remains to be seen how the scenario unfolds The Index crossed 22525 barrier and created a new ATH. However, it got sold-off once before recovering from 22300 to close around the same 22520 zone. The Q4 results expected to be positive and keep the markets at higher levels. However, the uncertainties on account of the forth coming elections would keep the gains subdued Ensuing week is crucial for deciding the future direction and the target Going by the technical indicators the broader range for April is 21920-22765. Breach on any side requires re-evaluation #Stay Safe Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
NSE:NIFTY
by SYFXTF
NIFTY-Weekly Outlook-Venkat's BlogThe Bulls regained the control and made a remarkable comeback. This action makes the base of 21840-940 range stronger for the near future at least. Now that the Index is back in the original channel and is expected to consolidate before taking further direction. The final session of the week/Month & quarter proved to be a volatile session with whipsaw moves and ended on a positive note to keep the positive sentiments alive. A few observations from the weekly charts are: The index moved in a range of 569 points viz. between 21947 and 22516 The oscillators of different time frames are stretched and showing mixed signals Option open interest to drive the direction of the market Expected scenarios for the ensuing week Volatility and choppy moves likely to continue Index regaining the 22220 a positive sign Additional interesting observations Index posted a bullish candle and re-entered the minor trend channel which it broke attempted closer to the ATH Index may find supports at 22220, 22070, 21970 and the index could face series resistances at, 22475, 22525, 22640 There were multiple gaps created during this dream run. The levels were repeatedly mentioned in the previous blogs. Since they are far away for now, they will be inserted back when relevant Final Note The Index has stayed well above 55 DMA at 21930 and the 200 DMA at 20379 The weekly charts suggest that the Index is back in the previous channel after bouncing back from 55DMA The notable observation is that the daily charts show signs of turn-around of Oscillators and expect 21220 to hold. The scenario of 21640 22640 are the larger range indicated. Most likely scenario would be a consolidation between 22220 & 22650. Breach on either side requires reassessment of risk In the past few years the April month has produced higher levels yet the closing has been mixed. It remains to be seen how the scenario unfolds The Index repeatedly attempting 22525 barrier. Once cleared we may see another spike and a new ATH The Q4 results expected to be positive and keep the markets at higher levels. However, the uncertainties on account of the forth coming elections would keep the gains restricted Ensuing week is crucial for deciding the future direction and the target Going by the technical indicators the broader range for April is 21920-22765. Breach on any side requires re-evaluation /list] #Stay Safe Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
NSE:NIFTY
by SYFXTF
NIFTY-Weekly Outlook-Venkat's BlogThe selling pressure continued in spite of 21900 lending support. Finally the bears managed to break and took the Index to 21700 making one thing completely negative as the much stronger support one of 21770-840 giving up easily. The subsequent sessions provided relief for a recovery past the 22K mark and ended the week with a positive candle, giving some hope for the bulls. The ensuing week is crucial and will there be sharp recovery or a continuation of the fall? A few observations from the weekly charts are: The index moved in a range of 470 points viz. between 22180 and 21710 The oscillators of different time frames are stretched and showing mixed signals Monthly, Quarterly and Annual closing and related Option open interest to drive the direction of the market Expected scenarios for the ensuing week Volatility and choppy moves likely to continue for couple of weeks Index staying below the 22240 a negative sign and Additional interesting observations Index posted a bullish candle attempting to make a comeback and faces challenge in getting back in to the minor trend channel which it broke. However, still within another channel of medium term Index may find supports at 21910, 21770, 21660 and the index could face series resistances at, 22130, 22240,,22350 & 22475 There were multiple gaps created during this dream run. The levels were repeatedly mentioned in the previous blogs. Since they are far away for now, they will be inserted back when relevant Final Note The Index has stayed well above 55 DMA at 21901 and the 200 DMA at 20327 The weekly charts suggest that the Index has breached one minor trend channel due to which it slid to 21710 well below the 55 DMA and luckily recovered from there. However, it is well within a medium term trend channel. The notable observation is that the daily charts show signs of tun-around of Oscillators and expect 21700 to hold. The scenario of 21640 22640 are the larger range indicated. Most likely scenario would be a consolidation between 22770 & 22350. Breach on either side requires reassessment of risk In the past few years the March month has produced strong moves which are mostly in the direction of the trend. It remains to be seen how the scenario unfolds With the Monthly, Quarterly and Annual closing due this week coupled with a truncated week will see increased volatility and choppy moves. This requires cautious approach Upside potential seems limited until we see a daily close above 22240-350 range Uncertainties on account of the forth coming elections would keep the gains restricted Ensuing week is crucial for deciding the future direction and the target #Stay Safe Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
NSE:NIFTY
by SYFXTF
#Markets a head! |#InvertedH&SMarkets a head Dow closed 540 points higher on Friday boosted by a sharp rebound in regional banks and solid jobs report. On the data front, the US nonfarm payrolls and wage growth accelerated more than expected in April indicating that the US economy remains strong despite FED rate-hike cycle. Week a head Inflation figures are scheduled to be released in China, Mexico, Brazil, India, and Russia Q1 GDP growth data will be released in UK, and investors will be closely monitoring the Bank of England's interest rate decision Technically, markets are strong above the Inv H&S neckline levels which are 18030/17952. which will likely to be buy on dips position on the upper side critical resistance zone will be 18275/18400 Momentum Oscillators RSI: 43.118 Signaling sell while RSI Stoch signaling overbought Trend Oscillators ADX 22.5 signals sell Volatility ATR 52.4 suggest higher volatility
NSE:NIFTY
by CA_Chetanbhasin
1st week of 2023 of #Nifty to start with Data heavy weekBusy week ahead US with center stage taken by labour market report, FOMC meeting minutes, ISM manufacturing and services PMI, foreign trade, factory orders, and Jolts Job Openings. December- Inflation Data will be released for Euro Area, Germany, France, Netherlands, Turkey, Switzerland, Philippines, and Indonesia. Investor to brace manufacturing PMIs from China, India, Spain, South Korea, Canada, Italy, and Switzerland. Technically Ascending triangle on the daily chart with critical support placed at 17992 dropping below can lead to drop till 17800 or below. Meanwhile resistance is placed at 18330. Derivative data Higher Put OI of 2.1Mn placed at 18000 while higher call OI of 2.7M at 18200 will be critical for the bulls to break for upside direction. Momentum Oscillators RSI 47.07 (Neutral) Trend Oscillators MACD(12,26) 34.65 (Neutral) ADX(14) 27.4 (Sell) volatility will be high
NSE:NIFTY
by CA_Chetanbhasin
#banknifty analysis for 26th to 30th July'2021 #banknifty analysis for 26th to 30th July'2021 DMA10 35243.66 Sell DMA20 35213.68 Sell DMA50 34920.93 Buy DMA100 34215.98 Buy Moving Averages (short term), Momentum Oscillators & Trend Oscillators are in SELL mode. The GAP 35,347 to 35,675 will continue to act as resistance. We are in correction mode, correction might be zig zag or flat that time will tell. If it's zig zag correction, max pullback will end in gap area or if it flat, we might attempt to touch 36k Overall the market is in range of 34,000 to 36,000, any big swing will come only outside this range. Trading Strategy:- If we assume we are in AB move ( valid till 34,357 holds), we will buy in dips to sell in the GAP areas. Next levels of short positions will be decided later on if we see reversal from gap area or from 36k area or if the swing low breaks (34,357). DP:- 34,920 (above +ve below -ve) Decision Points :- Important reaction points where you might see actions. 35,347 (Weekly High), 35,192 / 35,495-35,636 34,357 (Weekly Low), 34,702 E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't. John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient. Regards, SG
NSE:BANKNIFTY
by subhagghosh
48
Bullish Hidden Divergence On Cards For “PEL”Targets :3015-3235 Buy range :2850-2870 Stoploss :2710 Duration :4-5 weeks Outlook : The key observation on the price chart of Piramal Enterprises is that the stock has recently registered a breakout above the upper band of the falling channel encompassing the entire decline since June 2014 high of Rs 3088.95. It signals end of the corrective phase and start of a fresh up leg. The stock currently rebounded taking support at or around the crucial support area of Rs.2775-2780 being the 61.8% retracement of the previous rally from Rs.2582.55 to Rs.3088.95, which also coincides with the monthly pivot levels as can be seen in the adjacent chart. In the process the stock has formed a major higher trough in the Daily chart In the process charts also witnessed A “Hidden Bullish divergence in which stock prices making a Higher Highs, whereas oscillators(14-RSI), making a Lower Lows, which Indicates underlying strength and which occurs during retracements in an uptrend, suggesting good entry levels. Stock is trading above its medium term (50-DMA) and Longer term(200-EMA), among oscillators the daily stochastics has recently generated a buy signal and +DI has crossed above -DI thus validates positive trend in price We expect the stock to continue its current uptrend and head towards its previous highs in the coming weeks and hence recommend a Buy in this particular stock. Entry and Exit levels are mentioned above.
NSE:PELLong
by BHUMIT-ARQ
1
NIFTY : What NEXT on 13th JULY 2017. (Spot & Future)Intraday LEVELS Plotted in CHART. NIFTY: Candle Pattern Confusing (LH & HL) Indicators & Oscillators also MIXED in character. Though MACD, RSI & Some other indicators & Oscillators till now in BUY Zone, TREND: UP , Bias: FLAT to -VE Expected Trading Range: 49 to 69 Point , Extended to 87 point. VIEW: NEUTRAL (LONG in Lower Level) / SHORT in Higher Level. (as mentioned in Chart / Description) Summery of Today's Trade: (SnapShot End of Description) AS MENTIONED EARLY POST, " NIFTY: Candle Pattern Generate MIX Signal." Today NIFTY Range was too Small JUST 36.50 POINT. #1. OPEN Upper Band of HZ #1, But Can't Sustain #2. TEST Crucial Level 9792 Strongly, before EU market Opens. #3. Made HIGH at 9824.45, Just In line of Upper Band Of HZ #1. #4. Closed @ 9816.15 in line of HZ #1 (LOWER BAND) Tomorrows Trade For FnO Traders: LONG if Stay Above @ 9838 for 15 Min / Crossed @ 9844. TARGET: @ 9853 - @ 9861 ( HZ #1,Trend Finder Zone), @ 9879, @ 9894 , @ 9904 - 9911 (HZ #2), @ 9929+ SHORT if Stay Below @ 9819 for 15 Min / Dipped @ 9813 TARGET : 9804 - 9796 ( BZ #1,Trend Finder Zone), @ 9778 , @ 9763, @ 9754 - @ 9746 (BZ #2), 9728- If enriched your knowledge, Please don't forget to Hit / Click Like button . Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NSE:NIFTY
by DSKF16
Indicators for ScalpingIndicators for Scalping There are various methods used for making a profit in intraday trading. One such method, often known only to experienced traders, is scalping. This involves making numerous trades throughout the day to capture small price movements. Scalping requires precision and quick decision-making, distinguishing it from other trading approaches. This article explores the essential indicators that can assist scalpers in maximizing their results while using this fast-paced style of trading. What is Scalping? Scalping can be defined as a trading method in which traders try to capitalize on small price changes normally after executing a trade and becoming profitable. For instance, multiple traders within a 5-minute or 10-minute timeframe. Most of these traders have a well-defined exit strategy regarding their trades because they know that a loss could easily wipe out all those smaller gains obtained through hard work. To be able to successfully do scalping, many traders use scalping indicators, which we will cover next. Top Scalping Indicators Traders aiming to excel in scalping should familiarize themselves with the top five scalping strategy indicators. These are: 1. The SMA Indicator A Simple Moving Average (SMA) Indicator is one of the key tools commonly used by traders to build their trading strategies. It calculates the average price of an asset over a set period, assisting traders in determining if the prices of their securities, commodities, or currencies are going up or down. Essentially, SMA assists in identifying price trends by finding a mean of past closing prices and dividing this summation by the number of periods. SMA is also known as the arithmetic moving average. It provides a clear view of the asset's price direction, making it a key indicator for trend analysis. 2. The EMA Indicator The Exponential Moving Average (EMA) is another valuable tool for traders, offering a way to prioritize recent prices more heavily compared to the Simple Moving Average (SMA), which treats all prices equally. The EMA is particularly favored in scalping strategies because it reacts more swiftly to recent price movements. Traders commonly use the EMA to generate buy and sell signals based on crossovers and divergences between historical averages. 3. The MACD Indicator Another widely used scalping indicator among traders is the Moving Average Convergence Divergence (MACD) indicator. It's versatile and suitable for various trading styles. The MACD helps traders gauge momentum and track trends effectively. It illustrates the relationship between two moving averages of a security’s price. To calculate the MACD, traders subtract the 26-day Exponential Moving Average (EMA) from the 12-day EMA. The 9-day EMA, known as the signal line, is used as the default setting to identify buying and selling signals. 4. The Parabolic SAR indicator The Parabolic Stop and Reverse (SAR) indicator is another valuable tool for traders, providing insights into price action trends. During an uptrend, the SAR indicator plots points below the price, while in a downtrend, it places points above the price. This helps traders identify potential price reversals. The SAR indicator aids in assessing short-term momentum and deciding on stop-loss placements. It is most effective when markets exhibit consistent trends. 5. The Stochastic Oscillator indicator The Stochastic Oscillator is popular among traders. It operates on the principle that momentum leads to price changes. Traders rely on this scalping indicator to get early signals of price movements before they happen. The Stochastic Oscillator is based on the idea that an asset's closing price tends to be near the higher end of its price range for the day. Despite its complexity, many traders find the Stochastic Oscillator to be a dependable tool for making buy and sell decisions. 6. Volume Weighted Average Price (VWAP) The Volume Weighted Average Price (VWAP) calculates the average price at which a security has traded throughout the day, taking into account both its trading volume and price. It is calculated by taking the total dollar amount traded for the security and dividing it by the total volume traded. VWAP is particularly useful for scalpers as it helps them understand the true average price of a security, allowing them to make more informed trading decisions. By comparing the current price to the VWAP, traders can determine if the price is above or below the average, indicating potential buying or selling opportunities. This indicator is often used in conjunction with other technical analysis tools to enhance trading strategies. 7. Relative Strength Index (RSI) The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements to identify overbought or oversold conditions in a market. It ranges from 0 to 100 and is typically used to determine if a security is being overbought (above 70) or oversold (below 30). When the RSI crosses these thresholds, it can signal potential reversal points, helping traders make informed decisions about entering or exiting trades. Analyzing the RSI helps scalpers gauge the strength of a trend and anticipate possible price corrections, enhancing their ability to capitalize on short-term price movements. Conclusion Scalping is a useful but demanding trading method that involves making quick decisions to profit from small price changes. Using the right tools can help traders find the best times to buy and sell. Although it takes practice and a good understanding of market trends, learning about scalping indicators can help traders earn a profit.
NSE:BANKNIFTY
by Dhan
2
NIFTYBANK - Exciting East!Nifty bank back to where it was a month ago, negative for the year so far. Optically nothing much has changed, we printed out of the box GDP number, higher GST collections, robust SIP numbers. One cannot blame the PSU pack as their weightage is not that great. Broader profit taking can be the culprit. With inflation assumed to be slowing down, the real print would come post the elections not before. The measures are meant to contain as administrative and thus the markets are not focussing. In any case, the larger picture suggests a better management. With Bank of Japan, communicating the end of the low interest rate regime, it is clear, monetary policy would continue to be elevated. What one has to wait and see is how the liquidity will be drained by the central Bank's and that would take some more time and the devil is in detail. Seven Days of Fall and the lower wick of yesterday coming around the LBB and previous move supports a rise first than fall first. This is also aided by the neutrality of the oscillators. Close above 47000 pushes some hope while bears need below 46000 to assert. Recall this has been very strong support and hence this space likely to get some support. Near term frames 46300-47300 to work.
NSE:BANKNIFTY
by sreebhashyam
AUDUSD stays bearish unless crossing 0.6950AUDUSD braces for the first monthly loss in four despite Friday’s rebound from the 61.8% Fibonacci retracement of its December 2022 to early February highs. A clear downside break of the two-month-old ascending trend line joins a two-week-old descending trend line to favor sellers. Adding strength to the bearish bias are the downbeat oscillators. The corrective bounce, however, could become important if it manages to cross the convergence of the previous support line and an immediate downward-sloping resistance line, close to 0.6950. Following that, the 100-SMA surrounding 0.6985 and the 0.7000 psychological magnet could act as the final defense of the Aussie bears before giving control to the bulls. Alternatively, the aforementioned 61.8% Fibonacci retracement level around 0.6830, also known as the golden Fibonacci ratio, puts a floor under the short-term AUDUSD downside. Following that, the 78.6% Fibonacci ratio near 0.6750 may act as an extra filter towards the south. In a case where the Aussie pair remains bearish past 0.6750, the December 2022 low near 0.6630 could lure the sellers. Overall, AUDUSD’s corrective bounce, if any, remains elusive unless crossing the 0.6950 hurdle.
by MTradingGlobal
EURUSD buyers need validation from 1.0100 and FedDespite retreating from the 100-DMA during the last week, EURUSD defends the upside break of the 50-DMA and five-month-old descending trend line as traders await the Fed’s verdict on Wednesday. The major currency pair’s latest rebound also gains support from the firmer oscillators. As a result, bulls are hopeful of overcoming the 100-DMA hurdle surrounding 1.0070. Even so, the previous monthly top surrounding 1.0095 and the 1.0100 hurdle could test the upside momentum before giving control to buyers. In that case, a run-up towards the horizontal resistance area comprising multiple levels marked since May 12, close to 1.0360, appears more likely to follow. Meanwhile, a downside break of the resistance-turned-support and the 50-DMA, surrounding 0.9880, could quickly drag EURUSD towards a five-week-long support line near 0.9780. Should the quote break the nearby trend line support, the 0.9670-60 support region will gain the bear’s attention before targeting the yearly low near 0.9535. Overall, EURUSD is up for reversing the downward trajectory established in June. However, it all depends upon how well the Federal Reserve policymakers can convince markets of their dovish hike.
by MTradingGlobal
Weekly resistance test gold buyers ahead of ECB, US GDPGold extends the bounce off monthly support while picking up the bids near $1,801 during the early Thursday. In doing so, the yellow metal pokes a one-week-old descending resistance line inside a one-month-long rising channel bullish formation. Also keeping the gold buyers hopeful is the quote’s sustained trading beyond 200-SMA and firmer oscillators. Hence, the commodity is likely to overcome the immediate hurdle surrounding $1,801 to aim for 78.6% Fibonacci retracement of September’s fall, near $1,810. It should be noted, however, that the stated channel’s resistance line and the last month’s top, respectively around $1,830 and $1,834 will probe the bulls afterward. Meanwhile, risk-off mood post the US GDP and ECB outcomes could direct the gold sellers towards challenging the bullish chart pattern by hammering $1,787 support. Should prices remain weak past $1,787, the 200-SMA level of $1,770 may probe the bears. It’s worth noting that multiple supports around $1,750, comprising 23.6% Fibonacci retracement level, will challenge the further downside before eyeing the last month’s bottom close to $1,721. To sum up, gold has a smooth run-up on the north but the fears of tighter monetary policy poke the bulls.
OANDA:XAUUSD
by MTradingGlobal