- SPX looks over extended to me - All US Indices look over extended to me but you can't short it anyways - The whole playout here is based on catching retracements and not shorting anything - IMO trade less unless you find an A+ setup
- SPX has shown us a parabolic rally - It's better not tp short SPX without a strong confirmation - Look to Long Spx once you see a nice retracement to the origin of the move
- Spx is currently hovering near the overhead supply - Spx can throw up big soon - I think before shaking out bears SPX can again grab some liquidity from the demand zone - Retrace more and add back up - Risk here is 0.3%
Namaste! Currently, Nifty is trading near very important levels. This was the important resistance (because of lot of consolidation happening between Jun-July 2021), which became a support after the breakout. It has been tested twice since the July breakout. S&P 500 fell into bear market yesterday as far as daily close is considered. But, I am not convinced 100%...
Nifty Analysis Recap from yesterday: “The levels have not changed from yesterday, the first resistance is at 19226 and the 2nd one is at 19310. I am staying neutral till 19226 is not taken out, seems like it could be even done in the forenoon session.” The gap-up took out my resistance of 19226 and was forced to go long. I was eagerly waiting for the 19310 to get...
This year, SPX is up 8.84% compared to Nifty50 up 4%. Nifty50 is plotted in USD currency so that the comparison makes more sense. If you also look at the price actions, both the charts are showing good correlation. It will be interesting to find out how Nifty50 will close the 4.84% gap. USDINR is up 0.59% year to date.
Nifty Analysis Recap from yesterday: “Keeping the global macros in mind, I still wish to continue my bearish stance and expect the 19446 to be taken out on Monday and retest the 19310 soon.” If you watched the opening minutes, you would not have guessed the 283+ intraday fall possibilities. We had a flat open instead of a gap-down even after a weak handout from...
Nifty Analysis Recap from yesterday: ”Since we are between 19446 and 19776, Nifty is still range bound — but BankNifty has fallen below the support and is looking weak. For tomorrow I wish to change my stance to bearish with the first target of 19511 and 2nd target of 19446. If we are climbing up, would not prefer to go long until 19776 is not taken out.” Nifty...
Elliot X harmonic Look amazing in bearish market 🤧
Our NSE:NIFTY & NSE:BANKNIFTY is following the same chart pattern as SP:SPX A falling wedge plus bearish descending channel with a strong horizontal support SPX has just broken out from the falling wedge, will it breakout? And if yes - some of that euphoria will spill onto Nifty50 as well.
Nifty was leading SPX all the way till Sep 2022, after which SPX has taken over. If US markets stay like this, the underperformance in Indian markets will create a spiraling effect. More money will get taken out by FIIs -- Both SPX and Nifty50 are plotted in USD currency. The depreciation in INR will be accounted automatically.
since 1994, Gartner is in parallel channel zone and touched the edges 4 time and this is 5th time. Considering the past I believe it may face resistance to break the channel and move up. One retracement to mean of the channel is desired.
On Weekly Basis: S&P 500 currently at 4072 facing a resistance from downtrend line at 4080 as well as 200 DMA at 4055 (though breached upward briefly). It completed the final E of bear market wave at 3675. It again breached the low of 3675 and made a new low of 3583. It was about to qualify for new bear phase cycle of capitulation but could not sustain and moved...
SPX go long with SL daily RSI close below 31.45. We are seeing a running Triangle formation with Bullish Divergence in Daily and Weekly RSI. Confirmation is too far away, so need to enter here to make it a good RR trade. Low risk traders can enter here with SL, new low in daily RSI below 31.45. High Risk traders can have a bigger SL, new low in Weekly RSI below...
We are looking some good bounce at 3840-3845 range Target we are looking 4040 Sl 3815 on closing basis
Guess where the S&P 500 index did the pullback ;) and BTC continues to respect the trend line. In context, both the smart money region at the main S&P level (yellow line) as an indicator for the market as a whole and the double support in BTC (trending line + S1) are examples of entry points with excellent risk-return ratio.
We are expecting 4300 near before 22nd April This is purely based on PriceTime Square