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Emami Ltd: Potential change of Character, Double/Triple bottom "Emami Ltd: Potential change of Character, Double/Triple bottom " Stock: Emami Ltd. CMP: 622 Sector: FMCG /personal products Analysis: Emami Ltd. is showing promising change of character in its downtrend having formed almost complete Double /triple bottom. The stock has corrected almost 27% from its high and currently trading near the previous prce when very high volume activity was shown. Previously in the same zone very high demand zone occured boosting the price to go up. Key Highlights: Technical Setup: - Double Bottom (may also say triple bottom) Formation: Indicates a potential trend reversal. - RSI looks buliish - CMP: 622, near to the previous demand zone which had helped jump in prices Institutional Confidence: FII/FPI Holdings:increased holdings from 14.02% to 14.38% in Sep 2024 qtr. Institutional increased holdings from 35.63% to 35.89% in Sep 2024 qtr., reflecting confidence from larger investors. -Promoters unpledged 3.08% of shares in last quarter. Total pledge stands at 8.15% of promoter holdings. Promoters holding remains unchanged at 54.84% in Sep 2024 qtr FInancials: -The company has excellent financials. Target Levels: The stock is likely to test the next resistance zone at ₹743, offering significant upside potential. Some major analyst have projected price to go upto 790 levels in few months. Trade Plan: Entry: Near CMP levels Target: ₹743 and next may trail upto 790 levels or more Stop Loss: Below ₹590 for risk management. Disclaimer: This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
NSE:EMAMILTDLong
by ImranulHaqueNoor
Gold rose strongly, and the callback was longGold rose sharply in the early trading yesterday. The highest support began to fall back to around 2704, and the lowest fell back to around 2675. We changed the long-term strategy, went long at 2686, covered the position at 2677, and then continued to go. The order was perfect and received a profit notice at 2697. After the profit was eliminated, we continued to arrange long orders at 2690-2693, and the long orders continued to be bullish at 2710-2715. Gold rose sharply as expected, and the gold bulls continued to win strongly. The current highest support level is 2720. The gold moving average continued to rise, and the gold price continued to hit new highs. After the gold price broke through the high of 2703 yesterday, it turned from suppression to support, and continued to build long positions. Pay attention to the upper support of 2728-2730, and the lower support of 2728-2730. The transaction is mainly to take a step back and go long. Gold operation strategy: Buy 2686-2692, stop loss 2679, target price 2720-2728
OANDA:XAUUSD
by c211C
NIFTY 50 Index Chart Analysis ### Chart Overview This chart of **NIFTY 50 Index** on a 1-hour timeframe using **Heikin Ashi candles**. The analysis tools applied include: - **ATR Trailing Stops** - Support and Resistance levels - Volume Histogram - Indicators: **MACD** and **RSI** - Chart annotations such as **Bearish Divergence** and a **Double Bottom pattern**. The price appears to be consolidating near a resistance level after forming a potential bullish reversal pattern. ### Key Chart Features and Pattern Observation 1. **Double Bottom Pattern:** - The chart shows a classic **Double Bottom** (labeled "Bottom 1" and "Bottom 2") at the **$24,510.65 support level**, signaling a potential bullish reversal. - The breakout target is set at **$24,857.75**, the nearest resistance. 2. **Bearish Divergence:** - A **Bearish Divergence** is highlighted on the MACD, where the price made higher highs while the indicator showed lower highs. This suggests weakening upward momentum and potential price pullback. 3. **Sideways Consolidation:** - Following the breakout from the double bottom, the price is consolidating near the resistance zone **$24,691.75**. ### Indicator Analysis 1. **Volume:** - Volume surged during the formation of the double bottom, indicating strong buyer interest. However, recent consolidation is accompanied by declining volume, signaling indecision. 2. **MACD:** - MACD shows a **bearish divergence**, reflecting weakening bullish momentum despite price reaching higher levels. - Current MACD lines are trending downward, suggesting caution. 3. **RSI:** - RSI is at **32.28**, approaching oversold levels. This suggests a short-term downside risk but also signals potential support in case of a pullback. ### Key Levels or Price Levels 1. **Support Levels:** - Major support lies at **$24,510.65**, which aligns with the double bottom pattern. - Next critical support level: **$23,479.35**, a lower boundary from prior price action. 2. **Resistance Levels:** - Immediate resistance is seen at **$24,691.75**, the neckline of the double bottom breakout. - A breakout above **$24,857.75** would confirm bullish continuation. ### Overall Summary - The price has recently formed a bullish **double bottom pattern** and is consolidating near its breakout level. - The **bearish divergence on MACD** and low RSI suggest caution, as momentum may not strongly support immediate upside. - Key levels of support and resistance are well-defined, making this a critical area for directional confirmation. ### Trading Strategy 1. **Bullish Scenario:** - Wait for a breakout above **$24,857.75** with strong volume confirmation. - Target **$25,100.00** as the next upside level. - Place stop-loss below **$24,510.65** to manage risk. 2. **Bearish Scenario:** - If the price fails to sustain above **$24,691.75** and breaks below **$24,510.65**, short positions can target **$23,479.35**. - Use MACD and RSI signals for confirmation of bearish momentum. 3. **Neutral Approach:** - Monitor for price action clarity. Consolidation near key levels could create opportunities for breakout trades in either direction. ### Conclusion The chart suggests a **neutral to bullish bias**, with a double bottom pattern supporting upside potential. However, the bearish divergence and declining momentum indicators caution against premature entries. Traders should watch for breakout or breakdown confirmations around **$24,691.75** and **$24,857.75** to determine the next directional move. Patience and proper risk management are key.
NSE:NIFTY
by ramumaurya
Bitcoin (BTC/USD) Chart Analysis ### Chart Overview The daily chart price movements of Bitcoin (BTC/USD) on the Coinbase exchange. It utilizes **Heikin Ashi candles**, a smoothed candlestick type that helps highlight trends. Additional technical tools include: - **ATR Trailing Stops** - **Support & Resistance Zones** - Volume Histogram - Technical Indicators: **MACD (Moving Average Convergence Divergence)** and **RSI (Relative Strength Index)**. ### Key Chart Features and Pattern Observation 1. **Trend Analysis:** - The Heikin Ashi candles show strong upward momentum (green candles) interspersed with periods of sideways consolidation. - A current sideways phase following a bullish rally indicates potential indecision or absorption at higher levels. 2. **Support & Resistance Zones:** - A **major support zone** lies between **$58,863.90** and **$55,496.61**, evident from previous price bounces. - A key **resistance zone** lies around **$99,860**, which has limited upside price action so far. 3. **ATR Trailing Stops:** - The ATR stop line appears to support the price during the bullish trend, serving as dynamic trailing support. - Current placement indicates support is holding above $94,531.25. ### Indicator Analysis 1. **Volume:** - Declining volume during the consolidation phase suggests a lack of strong participation, which often precedes a breakout. 2. **MACD:** - The MACD is in a bearish crossover (red line above blue) but trending close to the signal line. This indicates weakening bullish momentum but not outright reversal. 3. **RSI:** - RSI is hovering around the **neutral 50 zone**, reflecting a lack of strong overbought or oversold conditions. - Fluctuation between the overbought (red) and oversold (blue) zones shows a balanced market. ### Key Levels or Price Levels 1. **Support Levels:** - Strong support at **$58,863.90–$55,496.61**, marked by a historical reaction zone. - Dynamic support from ATR trailing stop at **$94,531.25**. 2. **Resistance Levels:** - Immediate resistance at **$99,860**, with a major barrier at **$101,051.44**. 3. **Range Boundaries:** - Short-term consolidation between **$94,531.25** and **$99,860**. ### Overall Summary - The market shows **neutral to bullish sentiment**, with strong support holding up price action. - Indicators suggest a slowdown in bullish momentum, with RSI and MACD neither confirming a strong breakout nor breakdown. ### Trading Strategy 1. **For Bulls:** - Look for a breakout above **$99,860** with strong volume confirmation to initiate a long position. - Use ATR trailing stops for dynamic stop-loss placement. 2. **For Bears:** - A breakdown below the support at **$94,531.25** could trigger shorting opportunities, targeting the **$58,863.90** support zone. 3. **Neutral Traders:** - Wait for the price to break the current consolidation range (either above $99,860 or below $94,531.25) before taking a directional position. ### Conclusion The chart currently suggests consolidation following a bullish rally. The key focus is on breakout or breakdown signals around the critical resistance at **$99,860** and the support at **$94,531.25**. A volume-backed breakout is likely to provide the next significant trading opportunity. Until then, traders should monitor for confirmation of either scenario before committing to positions.
COINBASE:BTCUSD
by ramumaurya
Technical Analysis Technical analysis is a means of examining and predicting price movements in the financial markets, by using historical price charts and market statistics. It is based on the idea that if a trader can identify previous market patterns, they can form a fairly accurate prediction of future price trajectories. What exactly are the two types of technical analysis? Chart patterns and technical (statistical) indicators are the two main types of technical analysis. Chart patterns are a subjective type of technical analysis in which technicians use certain patterns to indicate regions of support and resistance on a chart.
NSE:BANKNIFTYEducation
by SkyTradingZone