For traders and near term traders,
support of 13782 is critical.
For traders a fall and close below 13782 can lead to a false breakout story.
For positive momentum to maintain,
Nasdaq must remain above 13782 and expect rise towards 14901.
Even if correction is witnessed below 13782.,
It will create a higher bottom agains the earlier swing bottom of...
The last major bottom on monthly chart was in October 2008.
Since then Nasdaq has been moving higher with
higher top and higher bottom formation.
Every correction has made a higher bottom.
Even the last correction of March 2020 was just a minor correction
in overall up trend.
Once again a peak of 13879 has been crossed.
The month is not yet...
NYSE COMPOSITE INDEX
Breakout above the January 2020 peak was witnessed in
The breakout implication suggest the Fibonacci retracement target of 17616 as shown in the chart.
Since the breakout in December 2020,
the index has shown higher low and higher high on monthly chart
indicating positive momentum.
Expect the same to continue with intra-day...
The fall on 12/04/2021 was from 14907 to 14279.
SGX NIFTY does not have the gaps
like we see in NIFTY.
On account of long trading hours for SGX NIFTY gaps are not witnessed.
The recovery shown on 14/04/21
is like a follow up rise to the Harami Black candle.
Reversal can be witnessed above high of 12/04/21 -14908.
Up Trend is being witnessed.
Post Breakout above 3954.
The implication of breakout above 3954
is 4101 and 4289.
The level of 4101 is crossed and the same was shown in our earlier update on S&P 500.
A rising channel is now visisble.
Near term correction or sideways volatility may emerg
if close below 4123.
Expect a gradual move towards 4292 with...
United Parcel Services Inc
A sideways band has been witnessed
since September 20.
The range has been 178-155.
A breakout attempt has been witnessed.
The sideways movement can also be seen
The breakout implication can be Fib-Retracement
of the fall from 178 to 155.
Resulting in to the target of 192-216-255.
For near term to short term can...
Hourly Chart for balance part of the day 12/04/2021
If it bounces ok othewise sl to 13964-13672
on demand zone.
In Next few minutes to decide
the trend is down and if bounce comes ok
otherwise slide further
BSE 400 MID SMALL CAP
After a struggle to keep the index above 4936 level of support.
The index manage to move up.
It outperformed Nifty/Sensex.
It is back to test the earlier peak of 5330.
Once again a crucial test.
A shooting star at the peak.
Breakout and close above 5330 is essential now.
Any lower high and lower low tomorrow below today low of...
Trend line breakout and falling wedge breakout has been witnessed.
Expect 74.93 to be tested in near term.
Support can be at 74.05-73.90 and 73.61.
RSI get into the overbought zone.
Acceleration towards 74.93 could be seen for resistance and profit booking
by long position trader.
As long as it remains above the trend line
expect accumulation for...
Higher top and Higher Bottom formation
Expect rise to 1.618 level of 4135 in near term with volatility.
The January 2020 breakout impact is for 4125.
The recent top Feb'21 and March 21 breakout impact
Market could witnessed a rise towards the same.
Indicator like RSI has yet to rush into overbought and its overbought momentum as...
Breakout along with FIB Retracement
Earlier occasion breakout with FIB Retracement shown and its impact.
If Breakout now is successful then
expect the Fib-Retracement as shown in the chart
to be tested.
Breakout attempt is being witenssed.
If remains above 2041
then retracement of the last fall.
The depth of the valley will set a rise towards
1.618 level of 2613 in near term to short term