8th Feb - Tesla announces investment in BTC. BTC shoots up almost instantly.
Added VPVR (Volume Profile Indicator) shows the gap up zone has very low traded volume across a huge range. This was due to a lot of panic & FOMO buying after the news announcement. The week leading up to that saw continuous ATH for BTC and subsequently a correction of price just about...
Reliance has been looking weak in the last 2-3 weeks with a lot of negative sentiment. Price has been trading lower providing long term investors with some very good entry points during the trading session.
Breaking the 2000 sentimental price will require some strong buying in the coming days.
BEL has already broken out from Cup & Handle formation. Could it possibly touch ATH? Most certainly with the push for more Make in India initiative by the goverment. Things are looking positive.
Overall, Bull market is pushing the largely underperforming stocks to move to fresh 52 week highs.
ETH has rallied up in the last two trading days to reach fresh highs in a long time. We are seeing similar run to Jan 2018 in the mix.
Yellow Trend Lines show long term levels with respect to the 2018 run up.
Green Trend Lines indicate short term support & resistance. If price sustains over each of these Trend lines, we wil see price moving up. Corrections will...
CAMS is a fresh enterant into the market which it's IPO opening up in October! It gave decent gains to the IPO investors but not sufficent enough as expected. Price fell from the IPO bell open and it's been under profit booking until last three weeks when it broke the IPO Open day high and the price has been rallying upwards.
CAMS is a great business to own. As...
COALINDIA has been running up for the past couple of trading sessions and has inched very close to the resistance trendline. Breakout on upside possible if the price sustains over 137.
If the price does not sustain, we will see profit booking and reversal.
BNF is making fresh high in the last week. Lot of pundits in the market are bearish on Bank Nifty gains in the last week but the market is all more pushing itself up to new high. Biden Victory has added more fuel to market gapping up on 9th Nov over the parallel Channel respected in the last few months.
Will this sustain or will we see a retracement?
In the last few trading sessions, we have seen huge sell offs in Reliance. NIFTY has sustained below 12000 for over a few trading session but reliance value has been bleeding out.
The case between Amazon - Future Group - Reliance has been in the lime light causing much trouble in the investors minds.
Second chart from the series of taking a look at the week that was in BankNifty. This week was very bullish trend in the market.
This chart indicates the overall breakout of the BANKNIFTY from it's bearish trend.
The previous two trading sessions have...
Looking back at the charts give huge context and meaning for the next trading sessions. This is a small series of charts I want to publish on a weekly basis looking back in the last week trading session of index - specifically Bank Nifty.
From the previous chart I had posted regarding looking back at Bank Nifty in the last three months, we can get the overall...
BankNifty was sideways through July until the breakout in the last week of August 2020. With this breakout, huge volume was noticed across the board in all bankings stocks. Only to see the news regarding the what's going to happen with the Loan Moratorium drag it back down. The entire gains were wiped off and many retail investors were stuck in the August month...
5th October saw huge profit booking in reliance against very good news of investments in Reliance Retail over the weekend.
Investors are consolidating positions in Reliance.
Overall, Heavy-weight like Reliance was in consolidation impervious to the trump's sign of relief.
DOW^ has seen huge reversal from last market close to today open with Trump's health information.
Last week has seen tremendous downfall in the global markets with the COVID-19 vaacine no where to be seen.
Major markets reacted to supposedly possible "LOCKDOWN 2.0" in many other parts of the world.
In India, We have seen NIFTY react and fall below 11400 & Bank Nifty make huge falls in the last few trading session.
Investors weary with the major markets...
As per the FOREX GOLD chart idea I have been posting in the last few weeks, the gold is in accumulation stages and GOLDPETAL Contracts are being traded in the MCX with good volumes.
The following idea shows that GOLD has had very strong RSI with above 40 in the last two months.
Price breakout chart in USD can be seen below for XAUUSD.
From my chart last week, We saw the breakout as per the idea I had posted. Reliance is still BULLISH.
Reliance Retail arm is still looking to add in more investments in the coming weeks. They've litreally put SoftBank on hold for investing in Reliance Retail.
The deal of 20B$ from Amazon in Reliance Retail is yet to solidfy.
Long positions away!
As per my last week idea, there was a strong rejection zone formed on the upside. In the last trading sesssion we saw GOLD break the drawn Rejection line with a small breakout above into our accumulation zone.
Currently, GOLD has taken support along the previous rejection line.
In the last two weeks, lot of intresting news coming with Reliance Industries, first the retail division has picked up stake in Biyani's Future Group and subsidaries. On the annoucement of this news, there was heavy profit booking seen by long term Future Group company stock holders.
On 9th Sep, News brokeout Reliance Retail has taken 1 Billion dollar investment...