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Supportandresistancezones

HINDALCO 10R probable trade set upThe short-term price action for Hindalco appears to be positive, with some bullish indicators: The stock is trading above its 20-day Simple Moving Average (SMA) of 657. The price is in the upper range of the Bollinger Bands, suggesting strong momentum. The MACD has generated a buy signal, although it is initial and weak. The CCI (Commodity Channel Index) has generated a strong buy signal. However, there are also some cautionary signs: The RSI is generating a sell signal in the short term. Volume-based indicators are showing selling momentum. Medium-term Outlook The medium-term analysis reveals a more complex picture: The stock is trading slightly above the 200-day Moving Average, around 6521. The zone between 652-620 is considered a crucial demand area. The RSI on the daily timeframe shows early signs of reversal, suggesting potential bullish momentum. Key Levels to Watch Resistance: A critical resistance level is identified near 715. Breaking above this level could negate the existing negative trend and confirm a reversal. Support: The 652-620 range is an important support zone. Maintaining a position above this range is crucial to prevent further selling pressure1. Options Data The Put-Call Ratio (PCR) for various strike prices indicates: For the 630 strike, the PCR is 3.58, suggesting more put options are being traded relative to call options. Higher strike prices (710, 720, 750) show lower PCR values, indicating less bearish sentiment for those levels.
NSE:HINDALCOLong
by KarniKripaa
From Novice to Pro: Navigating Support & Resistance Like a BossGreetings to all. I trust that you are all thriving in both your personal lives and trading endeavors. Today, I present educational content aimed at understanding the concepts of support and resistance in chart analysis. Support and resistance are key concepts in technical analysis used to identify potential price levels where an asset's price might reverse, stall, or consolidate. They are often visualized on a price chart and are critical for traders making decisions about entry, exit, and stop-loss levels. 1. Support: Definition: Support is a price level at which a downward trend may pause or reverse due to a concentration of buying interest. Why it works: Traders perceive this level as a "bargain," increasing demand and preventing further price drops. Visualization: On a chart, support levels often appear as a horizontal line or a sloping line below the current price where previous price action reversed or consolidated. Breakthroughs: If the price breaks below a support level, it may indicate a continuation of the downtrend. 2. Resistance: Definition: Resistance is a price level where an upward trend might pause or reverse due to selling pressure or profit-taking. Why it works: Traders perceive this level as "expensive," reducing demand and increasing selling activity. Visualization: On a chart, resistance levels are horizontal or sloping lines above the current price where the price struggled to move higher in the past. Breakthroughs: If the price breaks above a resistance level, it may indicate the start of a new upward trend. Common Characteristics of Support and Resistance: Role Reversal: Once a support level is broken, it often becomes a new resistance level, and vice versa. Psychological Levels: Round numbers (e.g., $50, $100) often act as strong support or resistance due to psychological significance. Volume Confirmation : High trading volume near these levels reinforces their strength. Types of Support and Resistance: Horizontal Lines: Based on past price action. Trendlines : Diagonal lines formed by connecting higher lows (support) or lower highs (resistance) in a trend. Moving Averages: Dynamic levels that adjust with price movement, often acting as support or resistance. Fibonacci Retracement: Levels based on mathematical ratios indicating potential reversal zones. How to Use Support and Resistance: Entry Points: Buy near support levels or after a breakout above resistance. Exit Points: Sell near resistance levels or after a breakdown below support. Risk Management: Place stop-loss orders just below support (for long positions) or above resistance (for short positions). Today, I decided to share some educational content, as my previous posts have primarily focused on trade ideas. I hope that you all would find this educational material valuable and engaging. If you appreciate this type of content, I encourage you to show your support by liking this post and following me for more educational insights in the future.
NSE:ASKAUTOLTDEducation
by TraderRahulPal
2
Range bound breakout in Bharti HexaNSE:BHARTIHEXA A range-bound ATH breakout is about to happen in the daily time frame. There can be 2 possibilities for the breakout:- It will straightway go for the breakout with some retracement It can touch its previous support of 1300 & then bounce back to try for the next time. Buy only after a strong confirmation with a strong bullish candle with a smaller wick between the range 1560-1580 Tgt for at least 200 points within 3-5 months. Put a stop loss of recent swing or calculate the basis Risk: Reward Ratio.
NSE:BHARTIHEXALong
by Saket_Ojha
TEXRAIL: Technical Signals Point to 20% PotentialThe chart provides a comprehensive overview of the key breakout levels and potential upward movement scenarios. symmetrical triangle Breakout RSI is above 60 and showing an upward trend Surpass the hidden resistance and establish it as support Disclaimer: The information contained in this technical analysis report is intended solely for informational and educational purposes. It should not be interpreted as financial advice or a recommendation to buy or sell any security. Investors are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.
NSE:TEXRAILLong
by NiftyNotions
IT SECTOR OVERVIEW: Super Bullish!Observation & Overview: 1. The IT Index was beaten down in late 2022. 2. After 2023 it formed a bottom and prices started gaining strength. 3. 2024 price started forming Higher Highs & Higher Lows, touched the previous 2022 ATH and currently, taking support from the 50% of the swing and also bouncing from a D tf demand. 4. It is acting as a major support zone and good weekly candle rejection can be noticed. 5. Signs of buyers getting dominant and it should break the ATH soon. 6. I'm expecting a minimum 15% ROI from this sector turnaround. 7. Hopefully, with sector rotation this sector is going to gain momentum eventually. - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:CNXITLong
by SuperNova396
SHAKTIPUMP RESISTANCE BREAKOUTSHAKTIPUMP, currently trading at ₹899.35, has shown a solid breakout above the marked resistance levels on the chart, indicating a strong potential for upward momentum in the coming weeks. Additionally, the stock has confirmed an ascending triangle breakout, reinforcing the bullish sentiment beyond the resistance level. This is a clear example of effective price action. The technical indicators look promising, with volumes steadily building up over the past few days, supporting the recent breakout.
NSE:SHAKTIPUMPLong
by AlphaTradesTM
INFY BREAKOUT ON Daily TF and Weekly TFInfosys (INFY) has been in a prolonged phase of consolidation, repeatedly testing a well-established resistance level over time. Despite multiple attempts, the stock consistently retracted from this level without delivering a decisive breakout. However, INFY has now closed convincingly above this resistance on both the Daily and Weekly time frames. This breakout suggests a strong potential for an imminent upside, supported by technical confirmation. This setup presents a favorable risk-reward trade opportunity, with minimal risk due to the narrow stop-loss range. For investors with a long-term perspective, INFY also offers the possibility of substantial gains, even without relying on a stop-loss strategy. The breakout marks a critical juncture, highlighting its potential for sustained bullish momentum.
NSE:INFYLong
by AlphaTradesTM
Updater Service Ltd. Good for a short swing. - At a support -Good ROE ROCE - Risk 11% Updater Services Limited: UDS Operates as an integrated business services provider in India, offering solutions in facilities management (IFM) and business support services (BSS). It caters to industries like hospitality, manufacturing, and IT, providing services such as housekeeping, pest control, logistics, staffing, and sales enablement. Financial Overview: Revenue Growth: The company achieved a trailing twelve-month revenue of ₹26 billion as of September 2024, with a growth rate of 13.52% year-over-year. Profitability: Net income stood at ₹985.8 million for the same period. Earnings: Its Q2 FY2025 earnings per share (EPS) increased to ₹4.20 from ₹1.86 in Q2 FY2024, reflecting strong performance. Market Capitalization: ₹27.42 billion, with a P/S ratio of 1.05, indicating a reasonable valuation relative to its sales. Growth Prospects: 1. Acquisitions: UDS has been expanding its portfolio through acquisitions, such as stakes in Athena BPO and Denave India, which enhance its service offerings and geographical reach. 2. Industry Demand: The integrated facility management market in India is growing, driven by demand from corporates for comprehensive services. 3. Potential Risks: Insider selling and valuation concerns indicate some investor caution despite recent performance improvements. Overall, UDS demonstrates robust growth potential supported by consistent revenue increases and strategic acquisitions. However, investors should monitor valuation levels and insider activity for signs of market sentiment changes.
NSE:UDSLong
by sagartharayil