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Shorttradesetup

DOW JONES - TRIANGLE AT RESISTANCE - EXPECTING SELL OFFSymbol - DJI CMP - 44593 The Dow Jones Industrial Average is currently trading within a symmetrical triangle pattern, indicating a period of consolidation. This technical structure suggests that the price is experiencing a balance between buyers and sellers, with no clear directional bias in the immediate short term. The breakout of this triangle, whether upwards or downwards, will likely determine the next significant move in the market. At present, my personal bias is towards the downside, anticipating a potential bearish breakout. Currently, the key resistance zone for the Dow Jones lies between 44900 - 45100. This range is proving to be a formidable barrier for upward price movement. Until this zone is decisively broken to the upside, the continuation of the bullish trend appears unlikely. The market is facing significant resistance, and it seems that for any sustained bullish momentum, a strong move above this level is required. If the triangle pattern breaks downwards, it could signal a correction that may lead the price to form a double top pattern on the larger time frame. A double top is a classic bearish reversal pattern, and its formation would likely confirm a shift from the prevailing bullish trend to a more bearish outlook. In this scenario, traders should be cautious of further downside risks, especially if the price breaks key support levels. However, if the price manages to break above the resistance zone of 45100 and sustains that move, the bullish trend would likely continue, and any short positions would be invalidated. A breakout above this key resistance would indicate a strong continuation of the uptrend, signaling that the market is poised for further gains.
DJ:DJIShort
by akshit_official
GBPCHF - LIKELY TO REMAIN RANGE BOUNDSymbol - GBPCHF CMP - 1.1388 The GBPCHF pair has been consolidating within a range for the past 6 months, and it is expected to remain within this range for some time. Currently, the pair is testing the upper resistance zone of this range, which has acted as a cap on price movements. As a result, I expect the price to fall back within the range from here. Trader's focus should be on the price action near the resistance zone. Given that the pair is currently at a critical point, it offers a good opportunity for a short trade as the risk-reward ratio is very favorable. A rejection from this resistance could see the price moving lower, providing an opportunity for traders looking for a pullback within the range. If the price breaks above 1.1400 - 1.1410 and sustains above this level, the market outlook will shift. In that case, we may witness a breakout of the current range, with bullish momentum potentially taking over. Resistance levels: 1.1400, 1.1375 Support level: 1.1270, 1.1215 Given the current resistance and the likelihood of a reversal within the range, the short trade setup offers a solid potential for a good profit. However, any decisive break above 1.1400 will change the market structure, signaling a potential shift to bullish momentum.
Short
by akshit_official
2
MANAPPURAM FINANCE LTD - APPROACHING RESISTANCE AREASymbol - MANAPPURAM Manappuram Finance Ltd. has been experiencing a recovery from lower levels in recent weeks. The stock has bounced back from support zones and is now testing key resistance areas. However, it faces considerable challenges at higher levels, showing signs of consolidation as it approaches its resistance zones. The overall trend appears to be in recovery, following a significant dip. However, the stock is facing resistance at higher levels, indicating a potential pause or consolidation before any significant movement. Short-term trend looks slightly bearish, as the stock has encountered selling pressure at resistance levels and is currently consolidating. Long-term trend remains positive, driven by the company’s strong fundamentals in the gold loan market. The stock is currently trading within an ascending triangle pattern and is consolidating near key resistance levels. My personal bias is towards the downside, and we could potentially see a sell-off from the resistance zone towards the triangle support trendline, with the possibility of a move below it. The trade strategy could involve looking for short opportunities near the resistance zone, especially if the stock fails to break out and begins to reverse. However, if the stock manages to break above the resistance trendline of the ascending triangle, the bias would shift to the upside. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:MANAPPURAMShort
by akshit_official
IPCA LABORATORIES - RETEST OF SUPPORT BREAKDOWNSymbol - IPCALAB Ipca Laboratories has recently experienced notable price movements, trading near resistance levels after a good pullback from lower levels. Currently, the stock is trading near major resistance zone, which follows a period of strong recovery from its earlier lows. However, the trend appears bearish, and the sentiment is negative. This increases the likelihood of a sell-off from the ₹1500-₹1540 resistance zone, where the stock may face significant selling pressure. Despite the recent price recovery, the stock is encountering selling pressure near these resistance levels, reflecting a similar trend seen in many healthcare stocks due to changing investor sentiments. As with other pharmaceutical companies, the stock could face volatility due to external factors such as regulatory updates, changes in pricing strategies, or new competition in the market. Despite short-term fluctuations, the stock remains resilient due to strong fundamentals and an ongoing focus on key therapeutic segments. However, the short-term outlook might face a correction. This could trigger a move towards lower levels, but long-term growth remains intact based on strong earnings prospects and solid market positioning. Key Resistance levels: ₹1500, ₹1540, ₹1548 Key Support levels: ₹1460, ₹1434, ₹1400 There are no signs of a significant trend reversal, and growth could resume from lower levels should the stock maintain its strong performance fundamentals. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:IPCALABShort
by akshit_official
BTCUSD - HEADED LOWER?Symbol - BTCUSD BTCUSD is currently encountering substantial resistance, with the price being significantly repelled from the 105-107K zone, establishing a strong resistance area. However, this resistance does not yet negate the broader bullish outlook in the market. A complex market structure is unfolding, characterized by both a descending channel and a symmetrical triangle pattern. The interpretation of these formations will depend largely on how market participants perceive them. A potential reaction to the support of the symmetrical triangle could result in a brief rebound; however, considering the prevailing resistance levels, it is anticipated that this rebound will be shallow, with the price likely attempting to move lower. Looking at the descending channel, the price is currently supported by a key level at 1,01,600 which is crucial in preventing further declines. This level will play a decisive role in determining the near-term price action. The primary uncertainty lies in whether this support will hold or be breached. On a fundamental level, the situation remains uncertain and largely dependent on developments in the United States, particularly regarding how political figures, including former President Trump, address cryptocurrencies. This could manifest in various ways: as a bubble, a strategy to influence elections, or simply as rhetorical posturing. Alternatively, it could reflect a genuine, coherent policy direction. Resistance levels: 1,03,500 - 1,05,800 Support levels: 1,01,600 - 99,600 The 1,01,600 level remains the focal point. In the short term, a potential breakdown below this level followed by price consolidation could lead to a decline to the 100-97K range. However, given the presence of the symmetrical triangle, a false breakdown of 101.6K could trigger a brief upward bounce before a subsequent decline towards the 100K level.
OANDA:BTCUSDShort
by akshit_official
1
US DOLLAR INDEX - TRADE IDEA ON SHORT SIDESymbol - DXY DXY is currently trading at 105.57 My reversal setup has formed in DXY & I'm seeing a trading opportunity on sell side. Shorting DXY at CMP 105.57 I will add more position if 106.00 comes & will hold with SL 106.30 Targets I'm expecting are 104.75 - 104.30 - 103.73 & below. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
TVC:DXYShort
by akshit_official
DXY - TRADE OPPORTUNITY ON SHORT SIDESymbol - DXY DXY is currently trading at 104.72 My reversal setup has formed in DXY & I'm seeing a trading opportunity on sell side. Shorting DXY at CMP 104.72 I will add more position if 104.45 comes & will hold with SL 104.75 Targets I'm expecting are 103.25 - 102.75 - 102.15 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
TVC:DXYShort
by akshit_official
HEAD & SHOULDERS PATTERN IN NIFTY. TIME TO SELL AGAIN ?Symbol - NIFTY50 CMP 24800 Nifty50 has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame. We can see a Head & Shoulders pattern getting formed on daily TF in Nifty. Such patterns on larger time frame don't usually fail. Nifty is currently trading near neckline of this pattern. Breakdown & sustaining below this neckline zone 24730 - 24690 will get this pattern activated & we can see big target towards downside. Target on downside can be 23370 P.S. : My short position is already active from 25000 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:NIFTYShort
by akshit_official
14
SWING TRADE IN BITCOIN - TRADE ON SHORT SIDE FOR HUGE PROFITSymbol - BTCUSDT BTCUSDT is currently trading at 68200 My reversal setup has formed in BTCUSDT & I'm seeing a trading opportunity on sell side. Shorting BTCUSDT Futures at CMP 68200 I will add more position if 69000 comes & will hold with SL 70300 Targets I'm expecting are 65920 - 63300 - 60875 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Short
by akshit_official
3
GOLD - BEAR ATTACK SOON ?GOLD is growing unpredictably towards ATH. The market did not react in any way to last week's US fundamental data and now the price is not reacting to strong levels and liquidity zones. Ahead of ATH after 3 weeks of forming. Investors remain cautious as the US Fed is expected to follow a path of moderate interest rate cuts (skipping a cut in November, or a 0.25% cut). The gold price is actively supported by the tense situation in the Chinese markets and lower US Treasury yields, which helps the gold price to take another leap towards the ATH. Now all eyes will be on Thursday when China holds a press conference and the US retail sales report is released. Resistance Zone : 2680 - 2688 Support Levels : 2664,2658,2645 Technically, I don't think that the market will let the resistance breakout happen the first time. The pullback from 2685, formed 3 weeks ago, was made on the back of strong economic data, so the huge pool of liquidity above 2685 can be defended quite aggressively by the bears. Technically, there are no signs for the continuation of growth. They may appear after the retest, but it will become clear after the fact. P.S. : My short position is open at CMP 2680 with SL 2702.
OANDA:XAUUSDShort
by akshit_official
24
BANKNIFTY - SHORT TRADE FOR HUGE PROFITSymbol - BANKNIFTY BANKNIFTY is currently trading at 53920 I'm seeing a trading opportunity on sell side. Shorting BANKNIFTY Futures at CMP 53920 I will be adding more position if 54400 comes & will hold with SL 54720 Targets I'm expecting are 52800 - 51800 - 51100 & below. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANKNIFTYShort
by akshit_official
5
BALRAMPUR CHINI - SWING TRADE ON SHORT SIDESymbol - BALRAMCHIN BALRAMCHIN is currently trading at 610 I'm seeing a trading opportunity on sell side. Shorting BALRAMCHIN Futures at CMP 610 I will be adding more position if 630 comes & will hold with SL 640 Targets I'm expecting are 575 - 550 - 530 & below. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BALRAMCHINShort
by akshit_official
4