NIFTY 50It could test below support level marked on the chart at 24147 or on that red line within (4th Nov 2024)
If red line breaks early then that white line is an ultimate support at 23800 (18th Oct 2024)
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
Short!!!!
what to expect from FOMCAs the FOMC (Federal Open Market Committee) releases its minutes today, the impact on gold prices is expected to be significant. Currently, gold is trading in a tight range, as markets are awaiting clarity on the Fed's future monetary policy stance. If the FOMC minutes hint at continued hawkishness, signaling higher or persistent interest rates, gold may face downward pressure due to the stronger U.S. dollar and rising yields, making non-yielding assets like gold less attractive.
Conversely, if the FOMC minutes suggest a more dovish outlook—indicating a potential slowdown in rate hikes or even rate cuts—gold could see an upward move as lower interest rates tend to benefit safe-haven assets like gold. Additionally, geopolitical tensions and strong demand from central banks are providing medium- to long-term support for gold(
So, if today's minutes suggest easing monetary policy in the near future, you could expect a rebound in gold prices. However, a more aggressive stance by the Fed could result in further gold price declines. Keep an eye on the broader market reaction to get a clearer direction.
EURUSD SHORT - 1H TIMEFRAMEFOREXCOM:EURUSD - 1H
Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied...
Keep trading
Hustle hard
Markets can be Unpredictable, research before trading.
Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
KOTAKBANK // Levels // 30 min"Welcome to SkyTradingZone "
Hello Everyone 👋
Kotak Mahindra Bank (KOTAKBANK) on the 30-minute timeframe:
Support Levels:
First Support: 1,750
Second Support: 1,730
Third Support: 1,710
Resistance Levels:
First Resistance: 1,780
Second Resistance: 1,800
Third Resistance: 1,820
HDFCBANK // Levels // 30 Min"Welcome to SkyTradingZone "
Hello Everyone 👋
As of September 6, 2024, HDFC Bank's (HDFCBANK.NS) support and resistance levels are ₹1641.87 and ₹1649.77. If the price crosses the support level, it could indicate a bearish movement, while crossing the resistance level could indicate a bullish movement.
Support and resistance levels are specific price points on a chart where buying or selling is expected to be the highest. The support price is a price where buyers are expected to be more than sellers, while the resistance price is a price where sellers are expected to be more than buyers.
TATAELXSI, Technical OutlookAs the price is already in a downtrend, now we have a fresh breakdown.
A short trade of 5% to 6% can be planned here.
What are your views on this short setup and which level is best for technical stop loss ?
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
ITC Technical Outlook, Support Broken with a strong momentumToday an important support of 423 has been broken with a strong momentum having RSI below 40. The price could test the next support level of 414 and if broken then we go for 400.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
POLYMED, Hanging Man candlestick pattern formed on the Daily tfAfter a strong uptrend of 37%, now the price has formed a bearish pattern of Hanging Man near the swing high. But we need a confirmation candle to decide our trading levels.
The EMA bands are also indicating for a trend reversal.
Thanks
Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty50 (22 April)22245 -- 22312 ( No trade zone )
Any hourly closing below 22245 then 📉 📉 to 22191 and ( 22087 pending target)
If it rejects from 22312 also applicable
1hr closing above 22312 then 📈 to 22375 -- 22400
Any hourly closing above 22400 then bullish 📈 📈 to 22563 (24th April)
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
MPHASIS - LOOKING WEAK FOR THIS WEEK - SHORT ENTRYAs per Chart MPHASIS suggests strong downtrend Momentum.
If trend continues we can see more Fall.
IT is underperforming as compared to NIFTY 50 and MPHASIS also showing weakness.
So the pattern will active below 2375
And pattern will be neglated above 2445
28 Feb ’24 — BankNifty goes bearish, next stop 45399BankNifty Analysis - Stance Bearish ⬇️
There is no doubt that the stance on Banknifty is anything but bearish. Even though we started quite okay, we quickly gave up the gains. After 10.23 the intensity of selling was quite strong. And once we came back to the bearish channel the depth of the RED candles kept on increasing. Banks were the first to react to the bad news along with RELIANCE. NiftyIT was still going on strong and was at the GREEN end of the turf. In fact, NiftyIT went into RED only after 11.43.
4mts chart
The double top M pattern and the bearish channel are better explainable on the higher timeframe. BankNifty’s next support comes at 45399, the momentum for the Bears will really pick up if we are to break that by tomorrow. That would also mean we are going back to the levels as of 18th Jan 2024. We are also quite sure, that could be a pain area for many traders who would have taken a monthly position.
HDFC Bank was very special today, it hit a low of 1405 by 10.59 - but the recovery after that was more than amazing. Till 14.27, things were not looking that bad either. However, the final 1 hour ensured that the selling on this counter was far from over. HDFCBK has a higher weight on Nifty50 than RELIANCE. Also it commands 2 other indices - BankNifty and FinNifty also. So if this elephant starts rolling, it would be a treat to watch for the BEARS.
63mts chart
Algo Trading
Our algo trades ended today with a gain of 15606. This is the 3rd day that we have exited the Algos prematurely. Today, we closed the trades @ 10.07 as my gut feeling said something was fishy.
Nifty Analysis: Double Top Alert! 🚨 Heads up, traders! Nifty has formed a double top pattern right at the peak. While we hesitate to scream "downtrend," signs point to a potential correction.
📊 Technical Breakdown:
1. Initial confirmation with a neckline break.
2. Crucial retest completed for added confirmation.
🎯 Targets & Stoploss?
Refer to the chart for specified levels. Brace yourselves for potential market moves!
Disclaimer: Market predictions involve risk. Trade wisely.
#NiftyAnalysis #DoubleTopPattern #MarketAlert 📈🔍
Intraday 26 April_ Tech Mahindra_ SHORTIntraday Trade setup for 26 April
I have selected 4 stocks for intraday, not all the trades will get executed.
I always place Stop Loss Market Buy/Sell order above or below (for LONG and SHORT) the high/low of the reference candle to make an entry.
Entry: 947.85
SL: 953.75
Target: 936
Disclaimer: The analysis or trade setup is of my own. Please do your own analysis before jumping into the trade. I shall not be responsible for the profit/loss in either way.
Berger Paints: Short at retest; Risk Reward 1:6Berger paints breakdown from "symmetrical triangle" chart pattern in daily time-frame. I am expecting huge downside rally after a retrace till Rs 591 (which also translates to 1:6 Risk Reward).
I am planning to go SHORT at 725-730 Levels (but not before 3:00 PM), wicks at the top of daily candle tomorrow will add extra confirmation to our trade.
Entry 725-730
SL 752.1
Target 591
Disclaimer: Please do your own analysis before jumping into the trade. Jumping into trade is not necessary to acquire knowledge, you can be spectator and evaluate how the price moves.