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Demand in ICICI BANK LTDA new resistance has come through ICICI Bank and the price has moved downwards from there. A good bullish move was seen in the market when the resistance was broken by the market. A good move to the downside can be seen if the market breaks the 915 level. Strong resistance currently acts as strong support. If the market cannot break the level of 915 then the market can move to the upside. Downward target T1 = 915 If the market breaks the 915 level T2 = 905 T3 = 985 Thank You @Money_Dictators
NSE:ICICIBANK
by Money_Dictators
5
USDJPY prints bear flag as Bank of Japan gains attentionUSDJPY is likely to end 2022 on a negative note, despite bracing for the biggest yearly run-up since 2013. However, the Yen pair portrays a bearish chart pattern, a bear flag on the four-hour play as traders keep their eyes on the Bank of Japan (BOJ). Given the downbeat oscillators and hawkish expectations from the BOJ, the bearish chart formation amplifies the downside expectations. As a result, bears could wait for a clear downside break of 134.90, to refresh the monthly low of 133.60. In that case, the August 2020 low near 130.40 and the 130.00 psychological magnet will gain major attention during the south run aiming for the theoretical target surrounding 120.00. Meanwhile, the top line of the stated bear channel, close to 138.50, restricts short-term USDJPY recovery moves. A clear upside break of the same will defy the bearish chart pattern and could poke the 200-SMA surrounding 140.80. In a case where the Yen pair buyers manage to cross the last hurdle, namely the 200-SMA, late November swing high near 142.25 and the 145.20 resistance could flash on their radars. Overall, USDJPY is on the bear’s radar after two years of a bullish move.
by MTradingGlobal
AUDUSD lures bears even as 200-SMA probes immediate downsideA clear break of the monthly bullish channel welcomed AUDUSD buyers the last week despite the quote’s hesitance to break the 200-SMA. That said, bearish MACD signals add strength to the downside bias suggesting an imminent fall to the November 08 swing high surrounding 0.6550, given the successful break of the 200-SMA level of 0.6660. Following that, the 78.6% Fibonacci retracement level of the Aussie pair’s November-December upside, around 0.6410, can’t be ruled out. Meanwhile, any recoveries need to defy the channel breakdown by successful trading above the 0.6725-30 support-turned-resistance to recall the AUDUSD buyers. Even so, the 0.6800 hurdle comprising multiple levels marked since mid-November could test the bulls before giving them control. In a case where AUDUSD remains firmer past 0.6800, the December-start peak near 0.6850 could return to the chart. However, a convergence of the stated channel’s upper line and the monthly high, close to 0.6890, closely followed by the 0.6900 round figure, appears a tough nut to crack for the pair buyers afterward. Overall, AUDUSD sellers are in the driver’s seat and await a clear break of the 200-SMA to dominate further.
by MTradingGlobal
Multi Timeframe Analysis on ACCELYA The chart above says it all. Daily TF Analysis :- If you look at daily TF you will find this stock made a high of 1530-1540 last year, then it fell down. This year in November 2nd week it broke out that level and right now it is retesting that previous resistance level. From price action point of view this is a good entry point. Hourly TF Analysis :- in hourly time frame a good support can be seen forming, right now the RSI is also at 23 (Highly Oversold). 15 Minute TF Analysis :- in M15 the RSI value is at 21, indicating oversold condition in this timeframe also. Conclusion :- this stock can be a good candidate for swing as well as positional trading. For swing trade Entry would be - 1530, SL - 1480, Target - 1670 (Risk : Reward = 1 : 2.8). Disclaimer - Do your own research before taking any Trades.
NSE:ACCELYALong
by iChoco
EMA and price action support at hourly chart of RAILTELThe HOURLY chart picture is pretty self explanatory. As you can see RAILTEL took first resistance near 133, then it broke the Resistance, after that the resistance became support. First it took support near 13 then made a Higher HIGH, then again it is came to the support of 133. The sloping up 200 EMA is at 130 (Will probably provide additional support). RSI indicator is also near oversold zone. It might be a high probability trade. Please Do your own research before taking any Trades. Entry should be 133 SL should be 129.25 Target should be 145.
NSE:RAILTELLong
by iChoco
2
NIFTY OUTLOOKIn the previous NIFTY OUTLOOK Nifty was expected to be range bound within the zone 17442-17561 for continuously 3 days Nifty was range bound with closing in the mentioned range. And on Thursday evening I expected a breakout and I thank NIFTY for respecting the expectation on Friday market opening. Currently NIFTY is expected to open gap up on the occasion of Muhurat trading . And this gap up is expected to be a Break away Gap as well. It may trade sideways and then come down towards the previous close to form a Pivot Point. Once the pivot point is identified I would update the same in this post .The upcoming resistance level would be 17850-900 level as it is an important Support and Resistance level and it is the 78.6 % retracement level of the entire downside trend from NIFTY's all time high. A long term view for NIFTY could be seen in this way ,As majority of the global market indices haven't even retraced 50% of the entire downtrend, any bullishness in them could push the indian markets even higher towards 18900. CHART & ANALYSIS BY - ADARSH DEY Link to my Previous Idea:
NSE:NIFTY
by AdarshDey
GBPUSD bulls run out of steam as 2022 is near to endGBPUSD posted the biggest monthly gains since mid-2020 in November. However, the latest bullish trajectory appears doubtful as the pair stays beneath a one-month-old previous support line. That said, the 50-SMA restricts the pair’s immediate downside near 1.1985. Following that, the 100-SMA level surrounding 1.1860 could act as the last defense of the pair buyers before directing bears towards the 50% Fibonacci retracement level of November 04-24 upside, near 1.1650. Meanwhile, the upside break of the stated support-turned-resistance line, around 1.2190. Although the RSI conditions may turn overbought and challenge further advances near 1.2190, a successful run-up won’t hesitate to aim for the August month’s high near 1.2295. It should be noted that the GBPUSD pair’s sustained trading beyond the 1.2300 round figure should give a free hand to bulls targeting the mid-2020 peak surrounding 1.2665, with 1.2405 likely acting as a buffer.
by MTradingGlobal