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Supportandresistancezones

HINDUSTAN UNILEVER BREAKS DOWN AFTER POOR EARNING RESULTSTECHNICAL ANALYSIS : ASCENDING RECTANGLE BREAKDOWN - Price has broken down from the ascending rectangle pattern with confirmation VOLUME SPIKE - On 21st july, price has shown huge volume spike with the breakdown indicating strong downward momentum 50D SMA BREAKDOWN - Price has broken out of the 50D sma after consolidating above it for a long time making it a very strong resistance zone STRONG SUPPORT-RESISTANCE ZONE BREAKDOWN - A very strong support-resistance zone level has been broken down by the price which had earlier acted as either strong support level or strong resistance level multiple times OVERSOLD RSI - Cherry on the cake is that rsi is oversold indicating very strong momentum behind the breakdown FUNDAMENTAL ANALYSIS : EARNING MISS - On the jun'23 quarter HUL has missed its revenue forecast by ~2.5% & profit forecast by ~4% indicating poor performance by the company STIFF COMPETITION - The regional players who had left the market during peak inflation have returned as inflation subsides indicating even higher competition for company MUTED DEMAND - Company has said that the demand in rural areas has not yet picked up and consumers are still preferring unbranded alternatives compared to its Tea brand TP - 2700 SL - 2560
NSE:HINDUNILVRShort
by peace_lover
AUDUSD portrays bearish triangle on Australia inflation, Fed decAUDUSD fades bounce off 200-EMA, reversing from a one-week-old falling resistance line, as Australian inflation and the Federal Reserve (Fed) Interest Rate Decision decorate the calendar. Given the downbeat oscillators, as well as the Aussie pair’s placement within a two-month-old bearish triangle, the quote stays on the seller’s radar. However, a clear downside break of the stated triangle’s bottom line, close to 0.6690, becomes necessary to convince bears, not to forget the need for a sustained close beneath the 200-EMA level of 0.6730. Following that, the late June low surrounding 0.6595 and the previous monthly bottom of near 0.6485 will gain the market’s attention. In a case where the Aussie pair remains bearish past 0.6485, the theoretical target of the bearish triangle confirmation, near 0.6240, should be logical to expect as the target for the short positions. On the contrary, an upside break of the seven-day-old resistance line, around 0.6790 at the latest, will precede the 0.6800 round figure and the last weekly high of near 0.6850 could test the AUDUSD buyers. However, major attention will be given to the triangle’s top surrounding 0.6900, a break of which won’t hesitate to propel the Aussie pair toward the 0.7000 psychological magnet. Should the quote stays firmer past 0.7000, the mid-February peak of around 0.7030 may check the upside momentum ahead of directing the bulls to the yearly top close to 0.7160. Overall, AUDUSD appears slipping off the bull’s radar but the sellers need validation from the triangle breakdown and the fundamentals.
by MTradingGlobal
EURUSD bears have further downside to track, focus on 1.1000 EURUSD stays on the back foot ever since it reversed from a multi-month high the last week, despite the latest corrective bounce. The Euro pair’s south run also conquered the resistance-turned-support stretched from early February and gains support from the RSI’s pullback from overbought territory. Adding strength to the downside bias is the looming bear cross on the MACD. With this, the major currency pair is likely to decline further, suggesting a retest to the previous monthly high of around 1.1010. Following that, the 1.1000 psychological magnet and a two-month-old rising support line, close to 1.0940 by the press time, will test the bears. It should be noted that the 100-DMA acts as the final defense of the short-term pair buyers around 1.0885. On the contrary, the ascending trend line from February, near 1.1140 at the latest, restricts the immediate recovery of the EURUSD pair. Following that, 1.1200 and 1.1250 may check the Euro bulls before directing them to the latest peak of around 1.1275. In a case where the buyers remain dominant past 1.1275, the 1.1300 round figure may act as a validation point for the rally targeting the previous yearly of around 1.1500. During the run-up, the 1.1400 threshold can also provide an intermediate halt. Overall, EURUSD is likely to remain bearish as markets await the key central bank meeting decision, including the ECB and the Fed.
by MTradingGlobal
GBPUSD sellers should keep eyes on 1.2760 and UK PMIGBPUSD marked the first weekly loss in three while slipping beneath the 100-SMA and an upward-sloping support trend line stretched from late June. Adding strength to the downside were bearish MACD signals and the RSI line’s reversal from the overbought territory. However, the MACD teases a bull cross as the RSI hovers around the oversold territory, which in turn suggests a corrective bounce in the Cable price. The same highlights a convergence of the 200-SMA and a two-month-old rising trend line, close to 1.2760 as the key level to watch as traders await the UK PMIs for July. In a case where the Pound Sterling drops below the 1.2760 support, the odds of witnessing the quote’s slump towards the late June swing low of around 1.2590 can’t be ruled out. However, the June start swing high of around 1.2550-45 and 78.6% Fibonacci retracement of its May-July upside, near 1.2480, can test the bears before directing them to the May month’s low of around 1.2310. Meanwhile, a convergence of the 100-SMA and the previous support line from late June, close to 1.2870 at the latest, restricts the immediate upside of the GBPUSD pair. Following that, the 1.2960 and the 1.3000 psychological magnet may challenge the buyers before giving them control. In that case, the yearly high marked earlier in the month of around 1.3145 will be in the spotlight. Overall, GBPUSD is likely to witness further downside but it all depends upon the UK data and 1.2760 break.
by MTradingGlobal
bearish bat in maruti currently at resistance zone can take less quantity in maruti and can add on dips or better buy when price reaches buy zone maruti is near to previous high .. ,has not given much returns from last two years has come with new lauch of cars but in short term it might take time to reflect so if long term can add on dips or wait for maruti to correct disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk :)
NSE:MARUTIShort
by techno_funda_guy
1
Bank Nifty AnalysisIn this idea I would try to discuss a few possible trading scenarios in Bank Nifty. ⚡Bank Nifty build a range of approx. 1000 pts from 43400 to 44500 and then broke out of it sharply. The move from A to B was quite swift and may have more legs on the upside. ⚡The current move from 45650 to 44650 looks like a pullback. It may still try to pullback further and retest the breakout level. 🚀So, if the price pulls up from here to the downtrend channel or 45150, one may look for a selling opportunity on the lower timeframes for targets of 44650 or so. 🚀If price doesn’t pull up so deep and rather drops down to 44500 from here, one may look for buying opportunities in there for continuation up to 45650 🚀The third scenario is that the price breaks up above 45150 from here. In that case, one may look for breakout opportunities for targeting 45650 or higher. Thanks for reading. Do 🚀 boost for more such ideas in future. Regards.
NSE:BANKNIFTY
by Bravetotrade
4