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SGX NIFTY 4 Hour chart Positive Divergence on RSI has been witnessed. As long as the low of 14441 is not violated expect a rise towards 15067-15243 for wave d later to follow up for wave e. The above argument hold true as long as 14441 is not violated. Once 14441 is violated expect a slide to 13974 as shown in the chart. Its a correction market of sideways move...

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resistance breakout

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Trend lines

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SGX NIFTY Resistance comes from 61.8% 15122 and from 15151. If sustains above 15151 then expect a rise to next supply zone-15247-15433. Finally if breakout above 15433 does happen then rally towards 15903(1.618) Support gap 14870-14806 and the swing bottom low of 14639 will be key support form here on. The pink line can be critical. Black line can...

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DJIA

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possible patterns

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Possibility of Structure

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SGX NIFTY on 4 hour chart SGX NIFTY is oversold zone on RSI and Stochastics. It has also tested the earlier breakout point of 14663. Today market lows violated tomorrow then downslide continues. Earlier we had shown the retracement of the rise from 13588 to 15443. SGX does have the gaps. But the big jump reversal seen earlier from 14065 could be tested if...

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Nifty Daily Chart Post Market at 18.49 ist A swing top has been formed as lower high and lower low has been formed with bearish candlestick. The last swing bottom was at 14984. The swing bottom of 14984 becomes a support which can be tested in near term. As a result of the swing top, Nifty will have to cross and close above the swing top high of 15430 to continue...

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COPPER COMEX Monthly Chart breakut has already been witnessed above 3.25 Expect the rally towads 4.25-4.65. resistance will be at 3.79, 3.84 and 3.98. As long as 3.49 is not violated A rise to test resistance and the supply zone of 4.25 or above range can be tested in due course of time with volatility.

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Crude Oil MCX The breakout above 3975 was witnessed. The breakout implication was for rise to 1.618% retracement level 4104. The price has crossed to high 4278. The 2.618% retracement is at 4312. The channel upper line is around the 4312-4350. Traders long and holding the same can revise up the stop loss to 4180. Book profits at higher range of 4312 or above.

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Support is at 15065. Long Legged Doji candle with large upper shadow suggest resistance and supply at higher levels. Further rise can continue if sustains abvoe 15264. Traders long and holding the same can revise up and maintain the stop loss at 15065. On fall and close below 15065 can lead to a retracement of the rise from 13666 to 15263. The earlier breakout...

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SGX NIFTY SGX NIFTY needs to sustain above the black line. Alternatively, a fall and close below 14926 can lead to a swing top . In that case the slide can be back to 13588 or below. Trend is up therefore the bias is up. Expect to hold the black trendline. Potentially look for rise till 1.618% retracement of the fall from 14769 to 13578. THe level is 15506.

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Trend line breakout and cross over above the 10 day average. 1363-1399. Supply zone: 1363-1399 Weakness can resume below 1280. The current price can initially be a pullback towards the supply zone. Intra-day dip 1-2% on 09/02/21 can be looked at as opportunity to trade long. with a stop loss of 1277.

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In relation to earlier long term outlook and daily outlook, now refer to 60 min chart to under behaviour. the 60 min chart has a swing bottom emerge from the daily chart 23.6% retracement. Further weakness is below the swing bottom of 60 min 1.1950. A correction of the rise from 1.1950 to 1.2050. If immediately is rushes up then expect a swing to be in...

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The daily chart shows a correction to retracement level of 1.16845/1.14849/1.12854. The correction can end either by hitting oversold zone on RSI or by exiting RSI 50 mark now. The 23.6% offer support and if the same is not violated then expect a swing bottom process to test back the recent peak to higher level as mentioned in earlier macro update.

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Resistance is at 1.219-1.256 It is also the supply zone. Recent peak of 1.235 was formed and reacted towards the 23.6% retracement of the rise from 1.063 to 1.235. Support is at 1.192. Further correction is below 1.192 to test 38.2% retracement or below. It looks to be long term (a)(b)(c) structure. A (c) structure may have opened up. Correction can be ii of (c)...

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After morning volatility and choppy move. Nifty consolidated to make an attempt to move above the high If that happens then expect 15100 or more