BREKOUT IN IRCTC📌SWING TRADE FOR NEXT WEEK🚀
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I am a swing trader by passion i only trade on swing stocks.
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📌TRADE ANALYSIS OF IRCTC :-
•Breakout of Darvas Box pattern on DTF with strong candle
•Break Major Resistance
•Volume increases last few day's high
•Bullish trend/ make good structure also
•Made good price action
•Make higher highs/higher lows
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📌Disclaimer:-
This all chatrs analysis are only for educational purposes only
I do not provide any CALL or Tips
Technicalindicators
BREKOUT IN PATANJALI 📌SWING TRADE FOR NEXT WEEK🚀
Hello guys,
I am a swing trader by passion i only trade on swing stocks.
📌I post daily SWING CHARTS analysis on my trading view profile..
so let's start
📌TRADE ANALYSIS OF patanjali :-
•Breakout of symetrical pattern on WTF with strong candle
•Break counter trend line and hidden lines
•Volume increases last few days high
•Bullish trend/ make good structure also
•Made good price action
•Make higher highs/higher lows
📌 Add on your watchlist....
📌 If you have any questions about any stock you can DM me Or comment on post 📱
📌Disclaimer:-
This all chatrs analysis are only for educational purposes only
I do not provide any CALL or Tips
SBI: Head & ShoulderStock has formed a Head and shoulder pattern who se neckline is identified at 553. A sustained move below 553 shall bring the stock down towards the measured target zone of 493-95
THEORY:
This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left shoulder. After this, again an up move can be seen on large volumes forming a head whose top is above the left shoulder following a correction on lower volumes & completing the head.
The completion of the head must be below the top of the left shoulder. If the prices fall down below the low of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies.
Now if you connect the bottoms of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing below the line, this will be the confirmation of the breakdown of the H&S pattern.
However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern.
After retesting if the prices again come down this will be the final confirmation of the downside movement of the price as shown below.
The bookish target of this pattern is taken as the vertical price range from the top of the head to the neckline & the bookish Stop loss should be the top of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range above the neckline.
Long Avanti FeedsAn inverted Head & Shoulder Chart Pattern Breakout happened on the weekly Time frame of BSE:AVANTI
Price Action is well supported by the volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
Initiate the long trade only according to the levels mentioned.
Stop loss will be on weekly closing basis.
Trend Analysis :- UP Trend
Chart Pattern :- Inverted Head and Shoulder
Technical Indicator :- Positive MACD Crossover
Pressure is increasingly weighing on gold pricesXAU/USD ended Wednesday's trading session at its lowest price in three weeks, hitting a new low of $1,905 as the inflationary backdrop in the US continued to frustrate gold investors.
Gold continues to be rejected from $1,940.00 after last week's action saw the yellow metal fall back as US Treasury yields and the US Dollar (USD) continued to trouble scarf on the Gold chart. The precious metal has broken away from yearly highs above $2,060.00.
The US consumer price index (CPI) rose 0.6% in August, up sharply from 0.2% the previous month, and inflation concerns weighed on XAU/USD. Annual CPI increased 3.7% compared to market estimates of 3.6%.
Rising inflation in the US is causing the market to reassess the possibility that the Federal Reserve (Fed) will raise interest rates further, although the Fed seeks to keep interest rates stable at its interest rate meeting next week.
The Fed maintains its hawkish stanceGold prices extended the previous day's healthy recovery from $1,900 or above three-week lows and gained stronger traction for the second straight day on Friday. Momentum lifted XAU/USD to three-day highs around the $1,915-$1,916 region during the Asian session, although a meaningful upside move still seems unlikely.
The US Dollar (USD) has pulled back from its highest since March reached on Thursday and is seen as a key factor driving some of the flows towards US Dollar-denominated Gold prices. The decline in USD may be due to profit-taking amid a slight weakening of United States (US) government bond yields. However, strong expectations that the Federal Reserve (Fed) will keep interest rates higher for longer will be a driver of US bond yields and the Greenback.
Gold price forecast todayGold prices ended five straight days of decline, trading higher at around $1,920, up 0.20% in Thursday's Asian session. However, precious metals are facing downward pressure as traders consider the possibility that the US Federal Reserve (Fed) will increase interest rates by 25 basis points (bps) until the end of 2023. .
Hawkish sentiment surrounding the Fed's policy decision at the upcoming September meeting continues to support US Treasury interest rates. This strengthens investors' confidence in the US Dollar (USD). The yield on the 10-year US Treasury note rose to 4.28%, up 0.05% at press time. The US Dollar Index (DXY) is around 104.80, measuring the value of the Greenback against six major currencies.
Gold is trying to recoverGold prices traded around $1,920 per troy ounce in the first hours of trading during Monday's Asian session. The precious metal managed to hold on to its previous weekly close, receiving some support from the weakening US Dollar (USD).
The US Dollar Index (DXY), which measures the Greenback's performance against six major currencies, is currently trading around 104.80, slightly below its peak since April. However, US Treasury bond yields are rising, which could put pressure on the yellow metal's price. The yield on the 10-year US Treasury note increased to 4.29%, up 0.52%.
Gold is waiting to accumulateGold yesterday opened the weekly trading session with an upward trend from 1916 to 1930 when the USD experienced declines and corrections after the Bank of Japan's move caused the market to increase expectations for the future. The Yen negative interest rate period will soon end.
The US Dollar Index (DXY) fell to around 104.60, trying to offset losses thanks to positive developments in United States (US) bond yields. The US 10-year Treasury yield rose to 4.30% at the time of writing.
Strong economic data in August put pressure on gold prices. Although the labor market has shown weakness over the past few weeks, it recently experienced a pullback with two strong reports including the ISM Services PMI and Initial Jobless Claims, both all exceeded market expectations. As long as data continues to show a mixed outlook, market participants can expect prices to stabilize
CPI news today will be very excitingGold prices tried to make up for the previous day's losses, trading around $1,910 per troy ounce higher in the early trading hours of Wednesday's Asian session. This currency pair is trending up due to the decrease in the value of the US Dollar (USD).
However, gold prices face challenges as the market is cautious ahead of the release of US inflation data, expected to be released later in the North American trading session.
The US consumer price index (CPI) is expected to increase 0.5% month-on-month, up from 0.2% the previous month. Meanwhile, core CPI, which excludes food and energy price fluctuations, is expected to steady at 0.2%
IRCTC - 82% RETURNS!!!BUY - IRCTC
CMP - Rs. 610
Target - 1: Rs. 720
Target - 2: Rs. 910
Target - 3: Rs. 1120
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Technicals -
1) Bullish Flag Breakout
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Fundamentals -
1) IRCTC operates through five segments: Catering, Railneer, Tourism & Train Operation, State Teertha, and Internet Ticketing. It offers mobile catering services and other catering services, tourism products and services, and packaged drinking water under the Rail Neer name. Additionally, it offers train ticket booking and travel insurance services, as well as operates irctctourism.com, a tourism portal.
2) IRCTC's financial track record, the company is of good quality with a fair valuation.
3) The company's current market capitalization is ₹48,288 Cr., with a 52-week high of ₹777.7 and a 52-week low of ₹557.
4) The latest PE ratio of IRCTC is 51.32 and the latest PB ratio is 19.37. The company's TTM revenue/sales are ₹3,267 cr.
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This is just a view, please trade at your own risk.
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Still no breakthrough in the new weekGold prices attracted renewed buying pressure on the first day of a new week and continued to rally above $1,945 during the Asian session. .
The mixed monthly jobs report from the United States (US) on Friday ensures that the Federal Reserve (Fed) will keep interest rates unchanged at its September policy meeting, so this is considered is beneficial for Gold prices, but not favorable. In fact, NFP headlines show the US economy added 187,000 jobs in August, well above market expectations. However, last month's figure was revised down from 187K to 157K. In addition, the unemployment rate increased to 3.8% from 3.5% in July and Average Hourly Earnings decreased to 4.3% YoY from 4.4%. The data showed that the labor market slowed slightly and left the Fed with less room to continue raising rates.
Forecast for Non-FarmGold prices attracted new sellers after the Asian session jumped to the $1,944 region on Friday and hit a new daily low in the past hour, albeit to no avail. XAU/USD is currently trading just below $1,940, virtually unchanged today, as traders patiently await closely watched monthly jobs details from the United States (US) ahead when betting in new directions.
The widely known Nonfarm Payrolls (NFP) report will be released during the first North American session and will influence expectations about the Federal Reserve's (Fed) next policy move. . This, in turn, will determine the short-term volatility of the US Dollar (USD) and provide a meaningful boost to Gold prices. Meanwhile, uncertainty over the Fed's future path to rate hikes did not aid the USD in capitalizing on the overnight recovery from a two-week low and acted as a drag on commodities. Goods are priced in US dollars.
Gold will regain balanceGold prices traded with a negative bias for the second consecutive day on Tuesday, although lacking continuation and remaining within the familiar range maintained over the past week or so. XAU/USD is currently placed just below $1,940, down less than 0.10% on the day and pressured by a combination of factors.
Despite signs that labor market conditions in the United States (US) are easing, the Federal Reserve (Fed) is expected to keep interest rates higher for longer. Furthermore, markets are still pricing in the possibility of another 25 basis points (bps) hike later this year. This, in turn, remains supportive of rising US Treasury yields, providing some support to the US Dollar (USD) and weakening non-yielding Gold prices.
Gold is still compressed waiting for NFGold prices extended their recovery for the third consecutive session and touched $1,950 on Wednesday. This daily increase is due to increased open interest and it suggests that additional profits will emerge in the near future. However, the next important target for the precious metal is the high of USD/troy ounce in July 1987 (July 20).
Our Technical Confluence Indicator is signaling that Gold Price is breaking out of the confluence of the $1935–36 support, indicating the next uptrend to watch. However, the key supports mentioned include Pivot Point S1 for one day and Fibonacci 61.8% for one month.
Life Insurance Corp of India (LIC) BreakOut OpportunityDate : 17-Aug-2023
Rating : Buy
LTP : Rs. 659.65
Target: Rs. 678-->706-->724
SL : 645
NSE:LICI has given a break out from its primary down trend as well as from its resistance level of 650 with increased volume. 7/13/26 DEMA is showing bullish trend. MACD cross over is already done and RSI is showing strength to support bull run.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.