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Nifty 50 at a Critical Support: Rebound or Further Decline?Hello everyone, i hope you all will be doing good in your life and your trading as well, today i have brought a daily timeframe analysis on Nifty which is trading within a Bearish Falling Channel and recently broke down from a smaller Bullish Channel , indicating continued weakness. It is now approaching a Strong Support Zone , which could either lead to a rebound or a fall toward 22,246 if the support breaks. The RSI shows bearish divergences aligning with past declines, while recent bullish divergence suggests possible support. This is a key level to watch closely. Disclaimer: This post is for educational purposes and not financial advice. Always do your research and manage your risk. Don’t forget to like and follow for more trading ideas like this. Check out my profile @TraderRahulPal for other detailed insights into technical and fundamental setups. Let’s grow together!
NSE:NIFTY
by TraderRahulPal
11
NIFTY BANK: Will It Bounce Back or Continue Falling? NIFTY BANK remains trapped in a falling channel, with key support and resistance levels coming into play. As the price consolidates, traders are watching closely for signs of a breakout or further downside movement. Key Points: 1. Resistance Zones: - 50,926.75 - 50,689.45 - 50,444.40 - 50,204.15 2. Support Levels: - 49,957.80 - 49,721.60 - 49,473.10 - 49,259.55 3. Current Setup: - NIFTY BANK is trading within a falling channel, indicating bearish momentum. - The recent bounce from the lower support zone suggests possible short-term recovery, but resistance levels overhead could limit upside moves. - Key Fibonacci retracement levels align with the channel's resistance, adding weight to the potential breakout or rejection. How to Trade This: - Bullish Strategy: - Look for a breakout above 50,204.15 with strong volume. - Targets: 50,444.40 and 50,689.45. - Stop Loss: Below 49,957.80. - Bearish Strategy: - If the price fails to sustain above 49,957.80, consider short positions. - Targets: 49,721.60 and 49,473.10. - Stop Loss: Above 50,204.15. Bottom Line: NIFTY BANK is at a critical juncture, with the potential for either a breakout to the upside or a continuation of the downtrend. Keep an eye on key levels and trade with caution, as the next move could be decisive! NSE:BANKNIFTY Only for educational purposes. This content is not a recommendation to buy and sell. Not SEBI REGISTRAR.
NSE:BANKNIFTY
by thetradeforecast
3
Morepen Lab Near Key Support – Big Move Ahead?Morepen Laboratories (NSE: MOREPENLAB) - A Critical Technical Setup In-Depth Chart Analysis 1. Descending Trendline Resistance: • The stock is moving within a descending triangle pattern, with a clear downward trendline acting as resistance since the peak around ₹120. • Currently, the stock is approaching this trendline near ₹80. A breakout above this level, supported by strong volume, could trigger bullish momentum. 2. Key Moving Averages: • 200-Day EMA (Exponential Moving Average): The 200-day EMA is positioned at ₹69.66, which serves as a critical long-term support. The stock has tested this level multiple times, indicating its importance. • The price is hovering slightly above the EMA, suggesting the stock is at a decisive point for trend confirmation. 3. Support Levels: • ₹69.66: Immediate support lies here, aligning with the 200-day EMA. If this level holds, the stock could see a bounce toward higher resistance levels. • ₹65.00 and ₹55.00: If the stock fails to hold ₹69.66, it could slide to ₹65.00, a psychological support, and then to ₹55.00, which marks a previous consolidation zone. 4. Resistance Levels: • ₹80.00: The descending trendline converges with this resistance. A breakout above ₹80.00 could open the path to ₹95.00. • ₹95.00: A crucial horizontal resistance zone. Beyond this, ₹115.00 could be the next major target. 5. Volume Profile: • Recent volume spikes near support levels suggest accumulation by long-term investors. • Watch for increasing volume during any breakout above ₹80.00, which would confirm strong buying interest. 6. Bollinger Bands: • The price is trading near the lower Bollinger Band, indicating oversold conditions. • A rebound toward the middle or upper band could align with a breakout above the ₹80.00 resistance. 7. RSI (Relative Strength Index): • The RSI is nearing the oversold zone, typically a precursor to a potential reversal. 8. Symmetrical Triangle Formation: • The stock’s current price action within a triangle pattern indicates consolidation. A breakout above the upper trendline or a breakdown below the lower support will dictate the next directional move. Possible Scenarios: Bullish Scenario: • A breakout above ₹80.00 with high volume can propel the stock to test ₹95.00 in the short term. • Sustaining above ₹95.00 could lead to a rally toward ₹115.00, marking a significant reversal of the bearish trend. Bearish Scenario: • A breakdown below ₹69.66 would indicate the continuation of the descending triangle, leading to lower levels like ₹65.00 and ₹55.00. • Increased selling pressure or market weakness could exacerbate the downside. About Morepen Laboratories Company Overview: Morepen Laboratories is a pharmaceutical and healthcare company specializing in Active Pharmaceutical Ingredients (APIs), formulations, and diagnostics. With a strong domestic presence and growing exports, the company’s key products include Loratadine (an anti-allergic API) and well-known OTC brands like Burnol and Dr. Morepen. Financial Highlights: • Revenue: The company has demonstrated consistent revenue growth, driven by exports and rising healthcare demand in India. • Margins: Operating margins are moderate, with scope for improvement as exports scale up. • Debt Levels: A low debt-to-equity ratio reflects strong financial stability. • Cash Flow: Positive operating cash flow highlights effective financial management. Growth Drivers: 1. Increasing demand for APIs globally, especially in regulated markets. 2. Expansion into diagnostics and OTC segments, with a focus on high-margin products. 3. Government incentives under the “Make in India” initiative for the pharmaceutical sector. 4. Investment in R&D to create niche formulations and increase market penetration. Conclusion: The stock is at a pivotal technical and fundamental point. A decisive breakout above ₹80.00 could signal the start of a bullish trend, while a breakdown below ₹69.66 might lead to further downside. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult a certified financial advisor before making investment decisions.
NSE:MOREPENLAB
by Veersoni108
NIFTY 50: A Tug-of-War Between Bulls and BearsNIFTY 50 index is consolidating after a sharp decline, trading within a narrow range. While the overall trend leans bearish, there’s potential for a breakout on either side depending on market momentum. What’s Happening? Resistance Zones: 23,752-23,800: This is a strong supply zone, marked by repeated rejections. Bulls need to push through this level to spark any meaningful recovery. 23,953: A major resistance level, signaling the upper cap for a bullish breakout if momentum strengthens. Support Levels: 23,616-23,560: This is the immediate support area. A break below could accelerate the downside momentum. 23,413-23,225: A critical demand zone if the index fails to hold above 23,560. Buyers are expected to step in here for relief. Current Setup: The index is oscillating between 23,616 and 23,752, forming a sideways range. This reflects market indecision as traders wait for a clear direction. How to Trade This: If you’re bullish: Look for a breakout above 23,752 with strong volume. If successful, the next target could be 23,953. Be cautious near 23,800, as sellers might re-enter. If you’re bearish: Watch for a breakdown below 23,616. A move lower could lead to a drop toward 23,413 or even 23,225. Use caution if the price approaches the support zone, as buyers may react. Bottom Line: The market is in a wait-and-watch phase, with key levels acting as decision points. The area between 23,560 and 23,752 will dictate the next move. Stay alert for a breakout or breakdown and plan your trades accordingly. NSE:NIFTY What’s your view on NIFTY? Share your thoughts and levels in the comments! 🚀📉 Only for educational purposes. This content is not a recommendation to buy and sell. Not SEBI REGISTRAR.
NSE:NIFTY
by thetradeforecast
1
NIFTY ELLIOT WAVE ANALYSIS - Wave b(4)Potential Wave B Completion in Wave 4 Correction Currently, Nifty appears to be in Wave B of an ongoing Wave 4 correction in the Elliott Wave structure. The price action suggests the possibility of filling the gap around the 81.2% retracement level, following which a decline in the form of Wave C might unfold. Key Levels to Watch: Resistance Zone: 25,600–25,700 This level could act as a key resistance, capping the upward move of Wave B. Support Zone: 22,700–22,800 On the downside, this area may provide significant support and serve as the target for Wave C. Potential Scenario: Wave B could complete after testing the resistance zone, forming a bearish reversal. If the gap fill around the 81.2% Fibonacci retracement occurs, it might signal the transition into Wave C. Wave C could drive prices lower toward the support zone, completing the corrective structure.
NSE:NIFTY
by hiteshkumar10999
Gold-> Buyer Back Yet?After suffering significant losses last week, gold has regained its recovery momentum and is trading positively above $2,600 on Monday. The fundamental backdrop supports this recovery. Key resistance levels at $2,518 and $2,628 now divide the market into two distinct zones. Meanwhile, market participants are awaiting moves from several Fed officials this week to gain further insights into the U.S. interest rate trajectory. The most likely scenario at the moment is a slight recovery in gold prices following the recent steep sell-off, with expectations for gold to climb higher after several reversals in the USD. In the medium term, bulls need to reassess U.S. policy planning in December, as the Fed is expected to hold rates steady in January. This has not been fully priced into the market, so any adjustments could pose challenges for gold. Technically, since the market opened, prices have climbed considerably, increasing the likelihood of resistance capping further upward movement. A false breakout at $2,589 and subsequent consolidation below this zone would strengthen selling pressure. However, there is potential for a retest of $2,618 (Order Block). Similarly, a failed breakout could trigger selling momentum. But if the fundamentals align strongly in favor of gold, the market may have a chance to shift the local trend from the $2,618 zone.
OANDA:XAUUSDShort
by Bo-Samson
Update latest gold price today !Hello everyone! Gold has been in a steady decline since the start of the week, currently sitting at 2561, with strong indications that this downtrend may persist. The key 2550 level is still fiercely contested, keeping traders on edge. The market remains clouded with apprehension, especially with recent developments in the U.S. following Donald Trump's election as president. This lingering uncertainty may continue to weigh heavily on gold. At the moment, all attention is focused on the upcoming October Producer Price Index (PPI) report in the U.S. Analysts are forecasting a year-over-year increase of 2.3% for October, a notable jump from September's 1.8%. If both the CPI and PPI show further inflationary pressure, the Federal Reserve could be pushed to raise interest rates, which could apply even more pressure on gold prices. A stronger U.S. dollar would make gold trading and holding costs more expensive, potentially intensifying the sell-off. Technically speaking, the battle at 2550 is far from over, and there’s a strong likelihood of a brief pullback before continuing the downward trend. This could mean a possible retest of the 2600-2580 resistance zone before resuming its decline. Chart patterns suggest that if the correction unfolds as anticipated—possibly in line with an Elliott wave impulse—the target could be around 2485, a drop of over 1000 pips from the resistance level. Stay tuned for more developments as this situation unfolds!
OANDA:XAUUSDShort
by Bo-Samson
2
Gold -> How Long Will the Adjustment Last? Emphasis on $2,600Hello, dear friends! Gold (XAU/USD) extended its recovery early this week, reaching the critical $2,600 mark and ending a six-day losing streak after a false breakout and a retest of $2,546. This rally has been fueled by escalating geopolitical tensions as the U.S. authorized Ukraine to use long-range weapons to strike Russia. However, the market remains under significant pressure. The USD and bond yields continue to rise, while the Federal Reserve maintains a hawkish stance. Economic struggles in Europe are weakening the euro, driving demand for the USD and further weighing on gold. This week, the gold market is expected to remain subdued with limited major economic data releases. Key areas to watch include U.S. housing data, the University of Michigan Consumer Sentiment Index, and comments from Federal Reserve officials. Gold is currently testing the critical resistance zone at $2,600–$2,589. A false breakout here could trigger strong selling, reinforcing bearish momentum. Conversely, a modest pullback followed by a decline to $2,546 would solidify a clearer downtrend. Keep a close watch!
OANDA:XAUUSDShort
by Bo-Samson
Midcap ETF forming Dual Rounding PatternThe ICICI Prudential Midcap ETF is currently exhibiting a technically significant dual rounding pattern on its chart, with one smaller rounding top pattern nested within a larger, longer-term rounding formation. The 21 level has emerged as a strong support zone. A breach of this level would likely activate the smaller rounding top pattern, potentially leading to a further decline toward the 19 level. The ETF initially displayed a bullish structure characterized by higher highs and higher lows, but has now shifted to forming lower highs and lower lows, a common early indicator of a trend reversal from bullish to bearish. This suggests that while the market is in the early stages of this reversal, it's too soon to definitively call the transition. Volume analysis plays a crucial role in confirming price action, as volume tends to be a more reliable indicator. In the recent chart movement, a clear volume divergence was observed during the last upward move, indicating weakening buying interest. Conversely, there has been volume agreement during the recent price decline, further supporting the possibility of a bearish shift. Close monitoring of volume trends will be essential in confirming this potential reversal and avoiding any price manipulation signals. ****Nifty Midcap forming same pattern but we analyze this because we will do Price Volume Analysis***
BSE:MIDCAPIETFShort
by Arvind_Share_Academy
Tata Motors - Poised for a Powerful UpsurgeTata Motors is presenting an exciting setup, and all signs point to a potential strong move upwards, thanks to multiple demand zones aligning perfectly across higher time frames. Monthly Demand Zone : Tata Motors has firmly entered a high-confluence area, with the monthly and daily demand zones acting as a solid foundation. These zones represent areas where big buyers historically step in, making it a strong base for a bullish reversal. The confluence between the larger time frames adds even more strength to this zone, suggesting a high probability of upward momentum. Monthly Demand Zone Daily Demand Zone Reactivity: On the daily chart, the price dipped into a daily demand zone, triggering a sharp bounce. The immediate reaction from buyers shows the validity of this zone, with bulls actively defending it. This reactivity adds further confidence that Tata Motors may have found a strong floor.( visible in lower time frame Charts) Daily Demand Zone: Lower time frame Reaction: Higher Timeframe Trendline Support : Adding more weight to this bullish setup is a long-term trendline support, which has acted as a reliable level for price to bounce from historically. This trendline is now aligning with the demand zones, creating a super-strong support structure. It’s not just the demand zones that are holding; the higher timeframe trendline is also providing a solid foundation for the price to launch upward. Trend Line support Gap-Filling Opportunity: There’s also a gap in price that remains unfilled, creating a target area for bulls to aim for. Gaps often act like magnets for price, and with the support from both the demand zones and the trendline, Tata Motors looks set to make its way upward to close this gap With Tata Motors sitting in a confluence of monthly and daily demand zones, supported by a long-term trendline and a gap-filling opportunity, the setup is ripe for a significant upside move. The alignment of demand zones across multiple timeframes combined with the trendline support creates a compelling case for a bullish rally. This is one to watch for a potential strong uptrend!
NSE:TATAMOTORSLong
by JS_Trading_Tradingmadesimple
Dr. Reddy's : Triangle Pattern Formation in Demand ZonesDr. Reddy's stock is currently forming a descending triangle pattern on the 2-hour, 4-hour, and daily demand Zones. This pattern and its positioning within demand zones are crucial for potential future movements. Key Observations: Triangle Pattern : The stock is creating a descending triangle pattern, characterized by a series of lower highs and a horizontal support level. This pattern often precedes a breakout or breakdown, depending on the direction of the price action. Demand Zones: The triangle pattern is developing within established demand zones on all three time frames. These zones are areas where buying interest has been strong in the past, which may influence the pattern's outcome on the upside. Implications: Potential Breakout : Watch for a breakout above the upper trendline signaling the start of a new trend. Support Levels: The demand zones within the triangle may act as crucial support levels. A bounce from these levels could lead to a trend reversal. Key Levels: Demand Zones: Daily: 4Hour: 2Hour: Pattern: Lets monitor the price action closely as the stock approaches the apex of the triangle pattern for potential trading opportunities when it breaks out
NSE:DRREDDYLong
by JS_Trading_Tradingmadesimple
Vodafone in 4H & 2H Demand Zones: Potential Reversal Ahead?Vodafone is currently consolidating in both the 4-hour and 2-hour demand zones , coupled with daily trendline support , indicating a strong potential for a bullish reversal. This price consolidation suggests potential accumulation and could lead to a bullish reversal in the near future. Also convergence of support levels across multiple time frames adds confidence to a possible bounce in price action. There should be a lookout for a potential bullish breakout, especially considering the strong confluence of support levels. Key Levels: Daily Trendline Support: 4H Demand Zone: 2H Demand Zone: Breakout Possibility The price is consolidating within the demand zones in both the 4H and 2H time frames, while maintaining contact with a daily trendline support. This consolidation could signal an accumulation phase, where the market is indecisive before a breakout. Once the price has broken out of the range (i.e resistance @ 13.77), The target could be the next supply zone around 15. There is also a small gap filling opportunity as well
NSE:IDEALong
by JS_Trading_Tradingmadesimple
2
Nifty Intraday Support & Resistance Levels for 26.08.2024On Friday, Nifty opened with a gap up and remained within a narrow 100-point range throughout the day, closing at 24823.15 with a modest gain of 11 points. Despite breaking above the 75m supply zone, Nifty has closed inside this zone for the third consecutive day. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. The demand and supply zones remain unchanged from the last post. Support Levels: Near Demand/Support Zone (125m): 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 Resistance Levels: Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is inside the zone) Far Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPalan