venkatfx

venkatfx

BTC has taken support at lower side of the megaphone, went up in first wave and has come down for second wave and very clearly taking support at Fib level of 61.8 as shown in chart which indicating any time third wave will start which will take BTC to 102. 104 and 108 in the impulsive up move. Movement of BTC is Bullish, movement is slow due to low volume may be...

venkatfx

BTC is still in megaphone pattern and once again testing the lower side of the pattern for confirmation of the support. if this second time holds good chances of BTC to make more upside moves Bitcoin and all other cryptos are very volatile, risky and great profit giving asset to be bought for short, medium or long term great profits. For trading one need to have...

venkatfx

In my opinion BTC is still Bullish and expecting a parabolic up move anytime soon. one news or other coming and loose hands booking profits while big hands slow silently buying and not in a hurry. In chart shown the false breakout of resistance line which I think is for grabbing liquidity. Still price is inside loudspeaker lines price will keep rising and falling...

venkatfx

I agree Inverted Head and Shoulder pattern failed but short sellers are safe while left out Retail Option Buyers taken long bets are in loss now. As per wave pattern chart is still in last stage of Bullish stage. OI data indicating the same view. If someone manipulating to eat everyone else in market, then can't help. Indian Share market is going out of control...

venkatfx

Previous prediction of taking support from lower side of the loudspeaker pattern worked out well. V shaped recovery and showing Cup & Handle pattern now. Breakout of neckline is also coinciding with resistance line of the current fall Hope current pattern take out the resistance and move up to the immediate target of 104K first.

venkatfx

BTC is in Bullish trend and is in loudspeaker chart pattern. Price is at over sold zone and lower side of the loudspeaker pattern. Even if price drops its good to go long in Bitcoin. If traded in derivatives have enough margin to hold longs in case of any spikes.

venkatfx

I am expecting larger fall in Gold for following reasons. 1) China discovery of large Gold reserve, 2) US asking Ukrain to stop its actions and war with Russia. with out US support Ukrain can not fight with Russia any more. France facing internal Issues and Nato with out US can not support Ukrain to fight any further against Russia. 3) chart is reflecting end of...

venkatfx

One side $ is rising despite of de dollarization efforts. India and RBI has been supporting and buying $ every month as per RBI data when chit chatting with russia for new currency one side and INR trades on another side. Its like put right indicator and show left hand and go straight without turning right or left !!! RBI who refused to reduce interest rate for...

venkatfx

One side $ is rising despite of de dollarization efforts. India and RBI has been supporting and buying $ every month as per RBI data when chit chatting with russia for new currency one side and INR trades on another side. Its like put right indicator and show left hand and go straight without turning right or left !!! RBI who refused to reduce interest rate for...

venkatfx

Nifty has moved above the inverted head & shoulder neck level indicating further up move and possibly for a Target - 26300 or 27135 or 28165 Hope and wish RBI cut rates or support the markets in some form helping the bulls. This is positional view and one may expect these targets in 30 to 45 days or more. Move could be quick in case RBI decisions support the...

venkatfx

Nifty chart showing 2 months of support formation with inverted head and shoulder pattern. Its not a 100% exact pattern but its sure formation. price was pulled and pushed by various forces. Its major and last support for Nifty seeing bottom formation. But RBI policy will decide the fate of Nifty and complete market this week and month. No one is confident of RBI...

venkatfx

Last 2 months Reliance was down due to Bonus Issue, spectrum allocation to skyline without auction etc etc. But value buying has emerged and as expected big players accumulated this stock and given buy recommendations in last few days is lifting the price. Risk - RBI policy in Dec24 but its golden mine for medium to long term investment. Disney deal, work with...

venkatfx

Nifty after breaking multiple support levels now it seems to be taking major and crucial support. This support indicating a new ATH from here. Already big players has accumulated and even started giving higher level targets and buy targets for major Nifty shares. This level has come only at the cost of weak hands and short selling and not a bigger selling at all....

venkatfx

Nifty and BN Analysis - BN has not moved up compared to Nifty up move, reason is Nifty got some boost from IT stocks. on 10th June or few days next week one correction seems to be coming in both N & BN In Nifty once price move below 23200 in spot it could see 22900 I think support might come here between 22900 to 22800 in spot If not Nifty will fall to 22500 to...

venkatfx

If we go by technical analysis Nifty is testing the breakout of previous resistance area. If it finds support everyone will agree it will go to 23100 and above and possibly - 23600 - 23700 as well because Nifty is not at all over valued and most of the stocks are below their ATH or medium-term high levels. If retest of breakout fails and falls further by one day...

venkatfx

It was little slow in moving up but it was in Buy side for more than a week now. Further moves in crude will give support to Reliance only

venkatfx

Price is nearing to key support area and already in previous spike - price zone. Ideally Reliance must get support or else it will prove Indian markets are simply pump and dump and no technical works...

venkatfx

Infy has seen sharp pull back from previous demand zone and has been side ways above previous demand zone and it has started rising up. Infy has taken good support and turned bullish again in middle of bullish share market but with valid reasons - 1) Last few weeks or 2 months I see Infy announcing more deals or info relating to growth when compared to past months...