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GOLD - Accumulate around 1910 USDWith news Core retail sales better than expected.The USD immediately benefited and pushed gold down However, when GOLD touched the H4 trend, it bounced back, causing gold to continue to enter the trajectory of the parallel trend.Gold has now bounced and created a short-term buying trend The US Dollar Index (DXY), which measures the strength of the US Dollar (USD) against a basket of six major currencies, continues its fifth consecutive day of gains. Trading plan: BUY XAUUSD soup around the price: 1896 - 1894 Stoploss : 1890 Take Profit : 1905 Take Profit : 1910 Take Profit : 1920
TVC:GOLDLong
by Mars_Hunter
1
Gold Bullish Neowave Cycle Started, have fun !Hello Everyone welcome to Trading Idea, today we are updating chart of gold or XAUUSD for traders. Here are the details Gold is moving Up in Correction, So this is an Zig-Zag pattern Currently we are in Wave-E which is moving Up as price progressed, it will be clear where it will end. Well there can be further up Long Term cycle zig-zag wave in form of ((f)), ((g)) and ((h))or this can be the last so do the partial profit booking Any way trade here with sl near invalidation level. If you like the idea, than kindly boost and share it with others and help us. Also if you have any query than don't hesitate to ask us. Thank You Manish Singh Neowave Analyst
FOREXCOM:XAUUSDLong
by Neowave-forecast
2
Nifty: Karnataka Election results and 11 May 2023 Expiry viewNifty - Important levels on Nifty spot for 09 May 2023 Imp levels on the upside 18343 / 18368 / 18401 Imp levels on the downside 18235 / 18208 / 18178 - Nifty rose 50 points with 0.25% rise in Open Interest. Before the Karnataka Election outcome, No signs of panic. - Just before the Karnataka Election outcome, All 3 F&O major participants have a Net Neutral kind of position in Index Futures as well as Options overall. Looks like Market participants would make a directional view after result outcome. Lets see whether Markets does any Natak (drama) after Karnatak Election outcome - Prima facie, on charts, Nifty trying to respect 18196-18235 Gap zone. Till the time above it, Bulls are in control. Bears might get active only if they sense this level is going to give up. Take care & safe trading...!!!
NSE:NIFTY
by indiamarketoutlook
5
SBIN: 560-580 Make or Break zone SBIN - The stock has seen a nice recovery over the last couple of days rising from the Budget day low of 499.35 to 567.9 today Observations - The zone o 560-580 is very important for SBIN - Black Line of Resistance coincides with Yellow Downtrend Line at around 580 odd levels - 61.8 Fib retracement level is also at 579.80 Making the current zone all more important. Bulls need a sustainable price movement above 580 levels for further rally. If gets resisted then SBIN may resume it's down trend again On the lower side the Blue Line may be looked at first Line of Support. My trading strategy Bear Call Spread strategy. Exit if SBIN closing above 585 on daily charts. Take care and Plan your trade accordingly...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:SBINShort
by indiamarketoutlook
Nifty closing below the blue trendline and Monthly expiry viewNifty As suggested earlier Nifty closing on last Friday suggested battle of Bulls and Bears still in balance. The importance of 17965 was highlighted... Nifty opened gap up exactly at that levels but Bulls are looking nervy as it couldn't sustain above that. The 2 hourly candles gave a close of 17959 and 17964 - Now On Hourly charts Nifty has closed below the blue trendline - On the upside 17965 / 17996-18030 is very crucial resistance zone - On the downside 17836-17854 if taken out then it potentially opens gate for further downside up to 17564 till Feb expiry. Take care & safe trading....!!! Do Like and Share Follow for more trading ideas from me Learn to earn Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYShort
by indiamarketoutlook
Renuka Sugars: Good price to enter from Long term perspectiveStock is at support levels. Buy at CMP and on dips towards 42. Important resistance around 63-68. Once crossed and sustained, the stock may head much higher.... Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:RENUKALong
by indiamarketoutlook
ICICI Bank: Is it a good Buy now...???ICICI Bank Every thing explained in chart itself. Just to reiterate - 868-888 may act as resistance zone - Minor support at 835-840 - If that is taken out then downside possibility opens up once again for sub 800 odd levels Given the setup one may consider to go for a Bear Call Spread strategy for Feb series Sell 880 Call option Buy 920 Call option Profit potential of 11.6% on Margin requirement. Risk of rise up to 888 is taken care of by the strategy. Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:ICICIBANKShort
by indiamarketoutlook
A Comprehensive Guide to Descending Triangle.NSE:AMBUJACEM A reliable bearish trend continuation pattern is known as Descending Triangle. This post will cover these questions: 1. What is Descending pattern? 2. How to identify Descending Triangle? 3. Pre-requisite of pattern formation. 4. Trading Tactics. 1.What is Descending pattern? #The descending triangle is a bearish formation that usually forms a continuation pattern during a downtrend. #Descending triangles also sometimes function as reversal patterns at the end of an up trend, but typically they are continuation patterns. #Descending triangles are bearish in nature. The descending triangle pattern here indicates that the buyers are not as aggressive as the sellers, so the price continues to generate lower highs. This shows that the demand for related security is falling. 2. How to identify Descending Triangle? (a.) Drawing trendlines. The bottom horizontal line (support line) is formed by two or more almost equal price lows, while the descending trend line (resistance line) is formed by two or more declining highs. (b.) what are Base and apex? -The base is the vertical line drawn from the flat support trendline to the starting point (Resistance line) of the descending trend. -The point at which both converging lines meet is called the apex point. -The breakout should happen around 2/3 size of the whole pattern. 3. Pre-requisite of pattern formation. (a.) Existence of prior trend. It is very important to identify the previous trend, an established prior trend should exist cause it's a continuation pattern. look for the pattern in a downtrend with a forecast of breakdown from the horizontal line. (b.)Volume pattern While the pattern is forming the volume diminishes. volume declines as the pattern develop and the price swings back and forth between an increasingly narrow range of lower highs and similar lows. However, there is a noticeable expansion in volume when the downside break occurs. (c.) Retracement Moves. The chances of a retracement move are very less in this pattern. After the breakout the price can move again towards the breakdown zone to test the validity of the breakout, on breakout the support is broken and when the price retraces the support becomes resistance and the price start moving in the breakout direction. 4. Trading Tactics. The entry will be below the support level and use protective stop loss above important resistance level, or it can be above 50% of pattern range. Minimum Take profit is the projected Base Line. Use position sizing according to your stoploss level. Like this idea if you find it useful and please share with your friends. Keep learning, Happy trading. Thankyou.
NSE:AMBUJACEMEducation
by SANJAYPATIDAR_
4
December opening looking at November ExpiryHello Friends, What a run up in the end. people were anticipating a down move at the last hour and it went like a 🚀. what a great run. As discussed in the morning, if we sustain above 18325 for next 30 minutes we should not think about bear move. once it crossed it never came back to that levels. As per the chart, it was a day of breakouts many resistance in Nifty have been breached and last resistance of 18604.45 is standing. so for the first time we have a monthly closing above 18000+. It was a great showcase of bull power. So shall we turn bullish all around??? My view is till we are trading above 18325 on daily closing basis we should remain bullish. Once we close above 18650 for 2 consecutive days then it means we have knock the doors for 19500. can we witness this in the month of December??? I will not rule out this possibilities. what if we goes down, 18325 then 18060 is the last support. At the middle of the month If I am wrong, on Dec 14, 2022 we will have Fed meeting. FED chairman comments would matter the lot for the rest of the month. DXY is correcting mildly and it has shown a rejection at 108. USDINR pair is also cooling off. But yes, if you get a chance to buy at 80.50 again then dont miss it. XAUUSD (Gold) is near to break out. if it happens then we might witness a shivering in equity market. Inflation is cooling off if we look at the metals and Crude. So all the sings are indicating a bull run. And I personally believe that if there are no sing of bear market then it is the only sing of bear market... PLEASE SAVE YOUR HARD EARN MONEY. THAT IS THE FIRST AND ONLY THING MATTERS THE MOST. ALWAYS RESPECT STOPLOSS I RECOMMNAD TO TRADE WITH HEDGE, MAKE MORE MONEY AND MAKE LESS LOSSES CONSIDER MY VIEWS FOR READING AND ANLYSING THE MARKET, REST I LEAVE IT UP TO YOU I AM NOT RESPOSIBLE FOR ANY TRADING LOSS, IF YOU TRADE ON MY VIEWS Regards,
NSE:NIFTYLong
by mentalFalcon42780