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Trendtrading

Uptrend in RAMCOCEMBased on the analysis of RAMCOCEM's price movements, it appears to exhibit a bullish trend characterized by a series of higher lows and higher highs (L, H, HL, HH). Furthermore, after encountering the support trendline indicated by the yellow circle, the price has formed an inverted head and shoulders pattern, which is widely regarded as a bullish signal by technical analysts. Given these indications, it may be reasonable to infer that RAMCOCEM is poised for further upward movement.
NSE:RAMCOCEMLong
by anuragAnand321
1
GBPUSD runs into key resistance as BoE rate hike loomsGBPUSD pokes a 10-month-old descending resistance line as the Cable bulls brace for the Bank of England (BoE) updates. Given the pair’s successful trading above the key DMAs and a clear rebound from the 61.8% Fibonacci retracement of the May-September 2022 downturn, the buyers are likely to overcome the stated trend line resistance, currently around 1.2340. The same, if backed by the hawkish BoE updates, could allow the buyers to cross the multiple hurdles near the 1.2445-50 region. Following that, the May 2022 peak surrounding 1.2665 could gain the market’s attention. On the flip side, the 50-DMA and the 200-DMA restrict short-term GBPUSD downside near 1.2140 and 1.1900 respectively. Also acting as immediate support is the 1.2000 psychological magnet, as well as the 61.8% Fibonacci retracement level of 1.1775. In a case where the Cable bears keep the reins past 1.1775, joined by the BoE’s disappointment, tops marked in September and October of the last year, around 1.1735 and 1.1645 in that order, could act as intermediate halts during a likely fall towards the 50% Fibonacci retracement level around 1.1500. To sum up, GBPUSD is likely to rise further and has a price-positive technical set-up but the upside momentum needs validation from the BoE.
by MTradingGlobal
Gold buyers brace for fresh 2023 highHaving successfully bounced off the 200-day EMA, the Gold buyers poke a four-month-old support-turned-resistance line as bulls await final clues for the next week’s Fed meeting. Given the overbought RSI conditions, the metal buyers appear to run out of steam and can keep struggling with the immediate hurdle surrounding $1,930. Even if the quote crosses that previous support line, the year-to-date (YTD) high of near $1,960 can act as an extra filter toward the north. It should be noted, however, that a clear run-up beyond $1,960 enables the bullion buyers to aim for the 61.8% Fibonacci Expansion of late September 2022 to February 2023 moves, near $2018. On the flip side, pullback moves could aim for the 23.6% Fibonacci retracement level of October 2022 to February 2023 upside, near $1,877. Any further downside, though, will need validation from the early March swing high near $1,858, a break which makes the Gold price vulnerable to retesting the 200-EMA support, around $1,810 at the latest. It’s worth noting that a clear break of $1,810 will need validation from November 2022 peak surrounding $1,786 to convince XAUUSD bears. Overall, the Gold price remains firmer but the bulls need a breathing gap before leaping toward the fresh YTD high.
OANDA:XAUUSD
by MTradingGlobal
BANK NIFTY Fall expected for atleast 3 days more. 1. Indicators in the Monthly chart. a. Price Action - 3 Bearish candles for Dec, Jan, Feb. (Possible 3 crow) b. MACD - Cross under on the way. (14 points away) 2. Indicators in Weekly Chart a. Price Action - 41729 is now a resistance. b. Stochastic - Cross under near. c. RSI - 48.56 (already low in strength) Conclusion, Further fall expected with healhty retracements of 50% or above. Will bet on PE with more lots than CE. Ideas expressed here although are based on the data that i observe as possible trends. I will not be responsible for any trades taken on these analysis. Its meant only for Educational Purposes.
NSE:BANKNIFTYShort
by SantoshIyengar
Trendline BrekaoutHere is a Government Company. now started moving after making a base in a weekly time frame. Its been in the range Since 2017 and has also passed the Covid Crash and even then respected the same levels. It started its rally back then in 2014 and continued till 2019 and since then it is consolidating at the same level. It has started moving after taking its previous support i.e. 200, But was not giving breakout of its short term downtrend line since 2019. Now it has given a breakout with a bullish candle and hence can be traded. Entry - At the same level i.e. 230 Stop Loss - At the last swing i.e. 210 Reward - there is ling term resistance at 270. (One can check the price action there as it may give a breakout this time.) #keep learning *This is a swing trade and can take 1 month to 3 month time.
NSE:PETRONETLong
by rohitbansal1212
EURUSD stays bullish unless breaking 1.0540 support confluenceAfter stalling a four-month winning streak in February, EURUSD prints mild gains so far in March. That said, the major currency pair’s latest recovery takes place from the 1.0540 support confluence comprising the 200-day Exponential Moving Average (EMA) and a three-month-old ascending support line. The upside momentum also takes clues from the upward-sloping RSI (14) line and upbeat MACD signals. As a result, the quote is well-set to challenge the last December’s peak surrounding 1.0740. Should the quote manage to remain firmer past 1.0740, which is more likely, the prices could aim for the mid-February top of around 1.0800. However, multiple hurdles could challenge the Euro bulls afterward, if not then the pair’s north-run toward the previous monthly high of near 1.1035 can’t be ruled out. Meanwhile, a daily closing below the 1.0540 support confluence could quickly fetch the EURUSD price to January’s bottom of 1.0481 before highlighting the December 07 low near 1.0445. In a case where the pair sellers keep the reins past 1.0445, the 50% and 61.8% Fibonacci retracements of its run-up from November 2022 to February 2023, respectively near 1.0380 and 1.0230, could flash on their radar. It’s worth observing that the late October 2022 high near 1.0095 and the 1.000 level are crucial for the Euro bears to watch past 1.0230. Overall, EURUSD remains on the bull’s radar as it stays firmer beyond the key support ahead of Fed Chair Jerome Powell’s semi-annual Testimony.
by MTradingGlobal
Gold grinds between 50-EMA and 200-EMA ahead of crucial weekGold braces for the first weekly gain in five but stays within the key moving average envelope as traders eye Fed Chair Jerome Powell’s testimony and the US NFP data, up for release in the next week. It’s worth noting, however, that the bears appear to run out of steam, per the RSI and MACD conditions. As a result, a clear upside break of the 50-Exponential Moving Average (EMA), around $1,845 by the press time, could convince the buyers to retake control. Though, multiple hurdles around $1,865 and $1,890 might challenge the XAUUSD run-up before the metal can regain $1,900. Meanwhile, a surprise downturn remains unimpressive beyond the 200-EMA level surrounding $1,803. Also acting as an extra filter to the south is the $1,800 threshold. In a case where the Gold price remains bearish past $1,800, the 61.8% Fibonacci retracement level of the quote’s run-up from last November to February 2023, around $1,747, will gain the market’s attention. It should be noted that the late November low of $1,727 may act as the last resort for the buyers before totally giving up control during the metal’s weakness past $1,747. Overall, the Gold price remains sidelined but the downside momentum gains less acceptance ahead of an important week.
OANDA:XAUUSD
by MTradingGlobal
USDCAD bulls need to cross 1.3700 for confirmationUSDCAD bulls struggle to defend the two-week-old winning streak ahead of the Canadian GDP data. However, the Loonie pair stays beyond the fortnight-long support line, as well as the key moving averages, to keep buyers hopeful. That said, a horizontal area comprising multiple levels marked since early October 2022, around 1.3700 appears the key upside hurdle for the pair. Following that, a run-up towards the 1.3830 and the 1.3900 threshold could be quick. In a case where the quote remains firmer past 1.3900, the previous yearly top surrounding 1.3975 and the 1.4000 psychological magnet could challenge the upside momentum. It should be noted that the RSI appears overbought but the MACD remains bullish, which in turn highlights the incoming data. Meanwhile, pullback moves may initially poke the immediate support line near 1.3580 before approaching the 100-DMA support of around 1.3500. In a case where the USDCAD remains weak past 1.3500, a gradual downturn toward the 200-DMA close to 1.3260 can’t be ruled out. However, the Loonie bears need a clear downside break of the stated key DMA support to retake control. Overall, USDCAD remains on the bull’s but a pullback can’t be ruled out unless the price remains below 1.3700. That said, strong prints of Canadian GDP could trigger the much-needed retreat of the Loonie pair.
by MTradingGlobal
ASIAN PAINT LTD : BOTH SHORT AND LONG TERM TRADEAsian Paints Ltd does not need any introduction. With Market Cap of 2,69,000 Cr and a legacy of pre -independence foundation in 1945, the stock is all time favorite for for both retail and Institutional buyers. Currently the stock has just reversed from its downtrend and stands @ 2833.60. The chart has already tested the support @ 2820.10 which is our stop loss for this trade. One can enter this trade anytime now as it has crossed below the neck of reversed HEAD AND SHOULDER pattern . Out Targets would be 2913.50 , 3000 , 3254 and 3450 . It is both for short term trading as well as Long term hold as the stock is in uptrend in Higher Time frame ( Monthly ) RSI is crossing level of 50 in uptrend High Volume seen in recent trading days. We will definitely see Golden Cross over within next 3 weeks. A good opportunity to add this stock in your portfolio. Please keep boosting my study and analysis , it is helping me a lot. Good Lock !!!
NSE:ASIANPAINTLong
by chakraveer1104
2
Banknifty - 7 day range breakoutSo finally bank nifty has come out from a tight range, and today it has been a sideways market. So our analysis will be simple, tomorrow will be a trending market. if it opens below the 41800 level i.e previous day's high(PDH) we will wait for the breakout and our target will be the 42000 level. On the other hand, if it opens gap up, the first scenario will be it can take support from PDH and the second will continue towards the 42000 level. Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
NSE:BANKNIFTYLong
by Garvit_Narang
Nifty - Doji on daily time frameAs from the last three days nifty hasn't given a trending move and was in a tight range. On the other hand, it has made a doji candle on a daily time frame. So for Monday, our view will be for both sides because it can give us a trending move either upside or downside. So if nifty breaks the previous day's high (PDH) i.e 17875 level our view will be bullish and our target will be first 17900 and second 17970. If it breaks the previous day's low (PDL) i.e 17800 level our view will be bearish and our targets will be 17780 and 17760 levels. Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
NSE:NIFTY
by Garvit_Narang