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VEDANTA ITB Stock Analysis: Bearish Trend Continues VEDANTA ITB stock is currently in a bearish trend. The stock has been declining since reaching its peak in april 2022. The decline has been accompanied by increasing trading volume, which suggests that there is more selling pressure than buying pressure in the stock. The following are the findings from the chart: The price of VEDANTA ITB stock has been declining since reaching its peak in april 2022. The decline has been accompanied by increasing trading volume. This suggests that there is more selling pressure than buying pressure in the stock. Disclaimer: I am not a financial advisor and this is not financial advice. Please do your own research before making any investment decisions.
NSE:VEDLShort
by TRADING-NASA
RELIANCE in Bearish Trend: Should You Buy or Sell? Based on the chart, RELIANCE INOS is in a bearish trend. The price has been falling for a while, and it is now at a support level of 2313.95. If the price breaks below this level, it is likely to continue falling. However, if the price can hold above this level, there is a chance that it could rebound. Here are some of the key observations from the chart: The price has been falling for a while, forming a series of lower highs and lower lows. This indicates that the bears are in control. The price is now at a support level of 2313.95. If the price breaks below this level, it is likely to continue falling. The price has been consolidating at this support level for the past few days. This indicates that there is some buying pressure at this level. The volume is relatively low, which indicates that there is not a lot of interest in the stock at the moment. Overall, the chart suggests that RELIANCE INOS is in a bearish trend. If the price breaks below the support level of 2313.95, it is likely to continue falling. However, if the price can hold above this level, there is a chance that it could rebound. Conclusion: Investors should be cautious about buying RELIANCE INOS at the current time. The stock is in a bearish trend, and there is a risk that it could continue to fall. Investors should wait for the stock to show some signs of strength before buying.
NSE:RELIANCEShort
by TRADING-NASA
USDJPY challenges rising wedge on BoJ status quoUSDJPY bounces off 200-SMA while testing the previous day’s rising wedge confirmation as Yen traders respond to the Bank of Japan’s (BoJ) inaction. With this, the risk-barometer pair not only challenges the bearish chart pattern but also teases the buyers, especially amid the looming bull cross on the MACD and a quick rebound in the RSI (14) line. However, the bullish bias remains elusive unless the quote stays beneath the aforementioned rising wedge’s upper line, close to the 151.00 round figure. Following that, the previous yearly top of near 152.00 may prod the buyers targeting the mid-1990 peak surrounding 155.80. On the contrary, the USDJPY pair’s fresh selling needs validation from the 200-SMA support, currently around 149.00. Even so, the monthly low close to 147.30 could challenge the Yen pair bears before directing them to September’s bottom of around 144.45. In a case where the sellers keep the reins past 144.45, the 140.00 round figure will be in the spotlight. Overall, the Bank of Japan’s (BoJ) dovish bias keeps USDJPY buyers hopeful. However, a clear upside break of 151.00 and downbeat comments from BoJ Governor Ueda will help the bulls to keep control.
by MTradingGlobal
AUDUSD begins eventful week on a front foot, 0.6380 eyedAUDUSD prints a three-day winning streak on upbeat Australia Retail Sales for September during the initial trading hours of an eventful week comprising the FOMC and US NFP. In doing so, the Aussie pair extends the previous week’s rebound from a monthly support line while also justifying the bullish MACD signals and the upbeat RSI (14) line. With this, the pair buyers are confident while planning the battle with the 0.6380-85 resistance confluence comprising the 200-SMA and descending trend lines stretched from late September, as well as from early October. Also acting as the upside filter is the previous weekly high of around 0.6400 and the monthly peak surrounding 0.6450, a break of which will give control to the bulls. On the contrary, the 0.6300 round figure restricts the short-term downside of the AUDUSD pair. Following that, a slightly rising support line from early October, close to 0.6290 at the latest, will act as the final defense of the Aussie pair buyers. It’s worth noting that the monthly trough near 0.6270 will also challenge the sellers before allowing them to target the previous yearly bottom close to 0.6190. Overall, the AUDUSD pair remains in the recovery mode but the upside momentum needs validation from the 0.6380-85 hurdle and the scheduled key fundamental data/events.
by MTradingGlobal