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Trend Analysis

GUARGUM51! - Key Trends and Price PredictionsOn the NCDEX, guar gum has formed an Elliott Wave cycle, with the final Wave E of Wave (4) approaching completion. A confirmation above Wave D could shift the entire outlook in favor of buyers. From a price action perspective, 9830 serves as a strong support level, while 13,650 acts as a supply zone, both of which have remained significant for over four years. Wave D represents a critical midpoint, ensuring a push toward the upper supply zone once the price sustains above this level or Wave D. If the price has completed Wave (4) and has broken above Wave D, it is likely to reach the upper boundary of the value area, around 13,650 . However, with the ADX (Average Directional Index) at 17, this suggests a weak trend, indicating that the current price movement lacks strength. If the price closes below the demand zone at 9,830 , it could delay the expected bullish move. Traders should wait for confirmation before entering a long position to ensure a stronger trend.
NCDEX:GUARGUM51!
by forextidings
Amid HMVP Virus Concerns - SUN PHARMA Trade IdeaTrade Idea Explanation: The emergence of the HMVP virus in India has created a surge in demand for pharmaceutical products, particularly antiviral medications. Sun Pharmaceuticals, as one of India's largest and most diversified pharmaceutical companies, is well-positioned to benefit from this heightened demand. This technical trade idea aligns with the potential bullish sentiment driven by the company's fundamentals and the technical setup visible on the chart. Technical Setup: Rounding Bottom Pattern: A classic reversal pattern indicating accumulation and a potential trend reversal. The breakout from this pattern suggests a bullish continuation. Demand Zone: The price has shown a strong rebound from the demand zone at ₹1,840–₹1,850, reflecting significant buying interest. Sellers' Liquidity Zone: The price is approaching the sellers' liquidity zone near ₹1,920. A breakout above this level would indicate strength and open the door for higher targets. Volume Confirmation: The increasing volume at key levels validates the breakout and strengthens the bullish case. Trade Plan: Entry Levels: Enter long near ₹1,850. Alternatively, wait for a breakout above ₹1,860 for added confirmation. Targets: Target 1: ₹1,920 (sellers' liquidity zone). Target 2: ₹1,960 (next major resistance zone). Stop-Loss: Place a stop-loss below ₹1,820 to protect against downside risk. Risk-Reward Ratio: Minimum 1:2, ensuring an optimal risk-to-reward setup. Why SUN PHARMA? Sun Pharma has a well-diversified portfolio, including antivirals and other life-saving drugs. The HMVP virus outbreak could act as a catalyst for increased demand for its products. The technical setup aligns with a broader market opportunity, offering a strong risk-reward proposition for mid-term traders. Key Notes: Monitor news related to the HMVP virus and its impact on the pharmaceutical sector. Keep an eye on broader market sentiment and volume activity to validate the trade setup. Adjust targets and stop-loss levels if market conditions change.
NSE:SUNPHARMA
by MyT_Trader
GODREJCP : Morning Star Pattern at SupportGodrej Consumer Products has given breakout near 1100 and now it is retesting its level and making a Morning Star Candlestick Pattern on Support this is a good sign for a stock. There is a Saying in stock market "Retest Stocks are the best Stock" ... if it will follow this proverb we can get a good profit with Trailing Stop-loss.. All data is available in public domain.. CMP : 1140 TG : near ATH SL : Doji's low Stock's selection based on 5 Point Analysis: 1: Idea : Breakout Retest. 2: Support : Volume, Delivery . 3: Technical : Morning Star Candlestick Patter at support. 4: Fundamental : PE, PAT, Industry & peer PE and sector performance. 5: Timing : Entry Timing on Daily chart. Disclaimer : It is my personal view as a trader and for educational purpose only. Equity market involves risk . Please consult your financial adviser before taking any decision.
NSE:GODREJCPLong
by SthitaprajnaYogi
Nifty Support and Resistance Levels for 7th Jan TuesdayNifty Key levels :- Previous month low and Previous week low is at 23460 if nifty violates this Nifty might see 23200 to 23k levels breaching this week. Concerns :- 1. HMPV virus. 2.Nifty trading below Daily Dema 200 Intraday levels to trade with . 23650 is immediate resistance if sustains above this area long for the targets of 23700,23750,23800,23850. 23550 is immediate support if sustains below this area short for the targets of 23500,23460,23400,23350. Educational purpose only do your own research before taking entries.
NSE:NIFTY
by rakeshreddym
Nifty Intraday Analysis for 6th January 2025NSE:NIFTY Index closed near 24005 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 79.43 Lakh 24200 Strike – 76.59 Lakh 24400 Strike – 66.85 Lakh Put Writing 23700 Strike – 63.38 Lakh 24000 Strike – 59.97 Lakh 23500 Strike – 48.29 Lakh Index has resistance near 24150 - 24200 range and if index crosses and sustains above this level then may reach near 24300 - 24350 range. Index has immediate support near 23900 – 23850 range and if this support is broken then index may tank near 23725 – 23675 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 6th January 2025NSE:BANKNIFTY Index closed near 50990 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 52000 Strike – 17.10 Lakh 51500 Strike – 11.36 Lakh 51000 Strike – 8.23 Lakh Put Writing 50000 Strike – 11.61 Lakh 51000 Strike – 11.45 Lakh 51500 Strike – 11.02 Lakh Index has resistance near 51500 – 51600 range and if index crosses and sustains above this level then may reach near 52000 – 52100 range. Index has immediate support near 50600 - 50500 range and if this support is broken then index may tank near 50100 - 50000 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 6th January 2025NSE:CNXFINANCE Index closed near 23735 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 24000 Strike – 1.11 Lakh 23900 Strike – 0.57 Lakh 23800 Strike – 0.56 Lakh Put Writing 24000 Strike – 1.02 Lakh 23800 Strike – 0.85 Lakh 23500 Strike – 0.53 Lakh Index has resistance near 23800 - 23850 range and if index crosses and sustains above this level then may reach near 24000 - 24100 range. Index has immediate support near 23600 – 23550 range and if this support is broken then index may tank near 23450 – 23400 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 6th January 2025NSE:NIFTY_MID_SELECT Index closed near 13010 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 13000 Strike – 5.99 Lakh 13200 Strike – 2.54 Lakh 12800 Strike – 2.39 Lakh Put Writing 13000 Strike – 6.71 Lakh 12800 Strike – 4.15 Lakh 12900 Strike – 2.01 Lakh Index has immediate resistance near 13125 – 13175 range and if index crosses and sustains above this level then may reach 13250 – 13300 range. Index has immediate support near 12925 – 12875 range and if this support is broken then index may tank near 12750 – 12700 range.
NSE:NIFTY_MID_SELECTLong
by RKMAURYA
FINNIFTY ANALYSISFINNIFTY CLOSING BELOW 23000 WILL TRIGGER A FALL TILL 20800 LEVELS. BE CAUTIOUS ON LONGS IN FINNIFTY. TRADE WITH STRICTER SL. ---------------------------------------------------------------------------------------------- Disclaimer: All information give is for educational purposes. Please consult your financial advisor before investing. If you like such content please subscribe and share it with your Trader Friends or Family Members. For more such content. Stay Tuned. ----------------------------------------------------------------------------------------------
NSE:CNXFINANCEShort
by parthsharma_999
BankNifty levels - Jan 07, 2025Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
Nifty levels - Jan 07, 2025Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe