The recent conflict in the middle east and the technical has led to this great bullish move , but in the near future we may see a correction move before going up .
I believe 1880-1895 is a great place to take a short position for the take profit to 1935-1950 .
with a stop loss at 1905
Happy Trading
#Xauusd #gold
Since Oct 5, it was suggested a short covering rally can be expected above 19482. Even after Israel-Palestine situation, I had suggested that if Brent crude is below $90, then we would bounce back after an initial knee jerk reaction.
That is what we have seen. After a reaction on Monday, Nifty has rallied roughly 345 points in the last 2 days.
Open Interest...
Nifty
In my last update had mentioned that above 19482 we could see a Short covering rally.
From 19482 to 19689... Nifty has seen a good 200 point plus movement.
With result calendar set to begin from tomorrow, watch our for the Support and Resistance zone marked in the chart.
Any further uptick from here on, Risk::Reward ratio might not be favorable for Bulls...
Last time, we had suggested a possible short covering rally could come in the market if Nifty goes above 19482.
That is what we saw on 5th morning, when Nifty opened gap up at 19521... made a low of 19487 and then came the short covering rally.
That rally closed the week at 19653 just a tad below 21 day EMA.
& there is a big Political NEWS of Israel war...
Nifty action in the last 3 days... Like a Scream but sort of Silence...
It has seen some wild swings up and down but is not showing much strength... closing flat near 19774...
Is it the silence before the storm???
Is it preparing for another big movement like the one we saw recently from 20223 to 19601 a 600 odd point fall?
Right before the expiry the battle...
NSE:MCX Multi Commodity Exchange of India Ltd is a commodity exchange based in India. It was established in 2003 by the Government of India and is currently based in Mumbai. It is India's largest commodity derivatives exchange.
MCX formed shooting star at daily timeframe (and gave closing below it) on resistance of parallel channel.
Entry : 1796
Target :...
Nifty after managing to float above 20k mark for a few days, has finally broken the support. Will Is the short term top in place or will we see Nifty reclaiming back 20 K ???
F&O data insights
Index Futures
Retail traders added 8332 Long Contracts and squared off 13492 Short Contracts
FIIs squared off 30419 Long Contracts and squared off 5337 Short...
NSE:TVSMOTOR TVS Motor Company is an Indian multinational motorcycle manufacturer headquartered in Chennai. It is the third-largest motorcycle company in India in terms of revenue. The company has annual sales of three million units and an annual production capacity of over four million vehicles.
TVSMotor formed Bearish engulfing candlestick pattern after an...
NSE:LT Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumbai & Technical services, headquartered in Chennai.
LT forms Shooting Star after an uptrend and gave closing below...
The stock is already in a bullish movement from 525 price. Still their is a change for a small target.
CMP -665 we can enter at this price for a Target price of 705.
