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XRP Analysis: Potential Bullish Breakout from Descending Channel💎 XRP has rebounded from the demand area and is currently attempting to break out of the descending channel, which suggests a potential bullish scenario. To increase confidence in this upward movement, we need to see significant bullish candles. 💎For confirmation, we're looking for a candle closing above the small resistance level of 0.5411. A breach of this level could indicate further upside potential, with targets near the next resistance levels of 0.6237 and 0.6596. 💎However, if XRP retraces back to the demand area, we may see another bounce. Trading near the demand area carries risk, so caution is advised. A breakdown below this area would signal continued bearish control over XRP.
Long
by MyCryptoParadise_Nathan
1
Banknifty looking super bearishBanknifty has formed rising wedge pattern which is super bearish sign in the market. Also there is 200 EMA(purple line) support at the current closing level of banknifty. If somehow it breaks the 47500 levels and sustains below it for 5-10 minutes there will be big targets possible. Only disclaimer is HDFCBank has to support this down fall. Target1 47033 Target2 46500 Target3 45960 Target4 45480 Target5 44950 Best case scenario: Remember this is not possible in one day. This could be positional bearish trade. Because market has risen so much so if it breaks the rhythm it will be bit confusing scenario so will give some intraday spikes to take bear SLs but ultimately it will fall brutally. Worst case scenario: It could trap the bears around 47000 and reverse. In this market anything is possible but if the bulls are strong enough. they will surely defend at 47000 round levels. And they will defeat if it breaks it and then bear grip scenario possible. DISCALIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.
NSE:BANKNIFTYShort
by ashishhc
46
Bank Nifty - Up, Up & Away ( 1000+ points) -Move RepeatsDisclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? Bank Nifty went up again, just like before, this time 1000+ points today 31st Jan 2024. It went down a bit first to 45071, retracing 50% of 44429 to 45660 upside move as expected & gave second buying opportunity & then shot upside holding true to our expectation. Now, it's close to hitting a target of 46500, reaching 46132 so far at the moment. 25th Jan 2024 Bank Nifty jumped big after a wedge pattern unfolded at the bottoms of 44429 lows. We thought it might go up to reach 46500, and it already went up 1231 points on both days combined 25th & 29th Jan 2024. Last Idea - Bank Nifty-Post Wedge Crack from 45500-600 - 2nd Buying Opportunity? What We expected Next? For those looking to buy, think about doing so if it goes above 45700 or if it drops a bit from its rise from 44429 to 45660. 31st Jan 2024 Banknifty retraced 50% of the 44429 to 45660 to the opening lows of 45071 & Boom upside 1000+ points today 31st Jan 2024. 44429 lows was critical low If Bank Nifty goes below 44429, then the expectation of it going up might not hold, and it could drop more & new lows can be expected immediately when the idea was published. BankNifty Bulls The goal is still to reach above 46500+ especially if it stays above 45660 which now becomes our support & earlier 45660 acted as resistance. From WaveTalks Market Whispers: Can you hear them?
NSE:BANKNIFTYLong
by WaveTalks
8
ZENTEC - Continuation Wedge (Bullish) Pattern A "Continuation Wedge (Bullish)" chart pattern formed on Zen Technologies Ltd ( NSE:ZENTEC ). This bullish signal indicates that the stock price may rise from the close of 742.15 to the range of 842.00 - 920.00. Supportive Points: -After a temporary interruption, the prior uptrend is set to continue. -Also there was a gap on 7th Aug 2023 which was filled on 26th October 2023. -Pattern formation took roughly 71 days, so target will be sooner or later than 71 days. -FII has Increased Qty - You can refer third party tool to verify the same. Quarterly Results : M.Cap ₹ 6,237 Cr PE 71.0 Item YOY Sep 2023 Jun 2023 Sep 2022 Sales ⇡ 203% 64.0 132 21.1 EBIDT ⇡ 304% 21.8 66.2 5.39 Net profit⇡ 279% 17.3 47.1 4.58 EPS ⇡ 255% ₹ 2.06 ₹ 5.61 ₹ 0.58 PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ZENTEC
by hardeepssethi
Bank Nifty-Post Wedge Crack from 45500-600 - Buying Opportunity?Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? As discussed over the HDFC Idea Got an explosive upside move in Bank Nifty & pattern looks to be terminated downside with a falling wedge. Post wedge- Bank Nifty jumped 1231 points appx. As updated recently we were looking for 1500+ points as logical target upside towards 46500+ out of which it rallied 800+ points in the 1st hour of trading today i.e. 29th Jan 2024 Second Buying Opportunity Plan your buying trades above 45700 breach on upside or wait for retracement of the the move 44429 to 45660 as another buying opportunity or strategy. Stoploss View becomes invalidated if Index drops below 44429 lows - In that case, fall may extend downside further & to be reviewed later. Expected Upside Target 46500+ with halt in 45500- 45600 zone as suggested over HDFC Idea this morning, holding above 44429 - recent low From WaveTalks Market Whispers! - Can you hear them?
NSE:BANKNIFTY
by WaveTalks