US markets tumble as Fed increase rate by 25bps to fight inflation; banking sector put pressure on Wallstreet ad Dow Jones Bank Index fell by 3.8%.
On the daily chart of Dow Jones, index reversed after retesting the triangle breakdown indicating the resumption of bearish trend. The bearish momentum may negate only on break of 33,000. Chart here
On Nifty, the gap-up opening yesterday lacked momentum as index traded in the range of 17,100-17,175.
SGX Nifty signals ~50pts gap down after US markets ended on negative note.
The derivative structure of weekly expiry indicates the range of 17,000-17,200 on Nifty.
Technically, the dip to 16,930-17,000 at 61.8% Fibonacci retracement can be an opportunity for bulls.
BankNifty may remain under pressure as US Bank Index dip by 3.8%.
#PreMarket
#SGXNifty
On the daily chart of Dow Jones, index reversed after retesting the triangle breakdown indicating the resumption of bearish trend. The bearish momentum may negate only on break of 33,000. Chart here
On Nifty, the gap-up opening yesterday lacked momentum as index traded in the range of 17,100-17,175.
SGX Nifty signals ~50pts gap down after US markets ended on negative note.
The derivative structure of weekly expiry indicates the range of 17,000-17,200 on Nifty.
Technically, the dip to 16,930-17,000 at 61.8% Fibonacci retracement can be an opportunity for bulls.
BankNifty may remain under pressure as US Bank Index dip by 3.8%.
#PreMarket
#SGXNifty
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Here's a list of stocks to watch out for today. This list is updated LIVE, so be sure to check back regularly... http://www.eqtm.in/Me4d3
Equitymaster
LIVE: Stocks to Watch Today| Equitymaster
Here's a list of stocks to watch out today in the Indian share market. This list is updated LIVE, so be sure to check back regularly...
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Fast Profits Daily
The volatile day on Wall-Street ends in green with the gains of 0.33% on Dow Jones; Nasdaq gains 0.72%. Nifty manage to close above 17,500 on expiry day; hovering around 200DEMA. SGX Nifty is trading 88 points higher at 17,645; the spot Nifty needs to close…
Gold ₹59,500
Silver ₹70,000
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Silver ₹70,000
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The volatile day on Wall-Street ends on positive note; IT gains while Banks fall.
Asian markets starts the day on negative note with Nikkei and Hangseng down over half a percent, SGX trades on a flat note with -17 points.
On Nifty, index is likely to break 17,000 resulting in bear trap. This bear trap may rally towards 17,430 by next week.
On BankNifty, the major support for the day is placed at 39,316-39,387 zone; any dip in this zone can be an accumulation level.
#PreMarket
#SGXNifty
Asian markets starts the day on negative note with Nikkei and Hangseng down over half a percent, SGX trades on a flat note with -17 points.
On Nifty, index is likely to break 17,000 resulting in bear trap. This bear trap may rally towards 17,430 by next week.
On BankNifty, the major support for the day is placed at 39,316-39,387 zone; any dip in this zone can be an accumulation level.
#PreMarket
#SGXNifty
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Nifty - At Intraday Support 📈
Hey Traders,
It's time to look for intraday longs as the index is trading at the support zone.
1. Trendline breakout retest
2. Ichimoku cloud support
3. Psychological level of 17,000
The pattern negates below 16,957.
#Nifty
#KeepItSimple
Hey Traders,
It's time to look for intraday longs as the index is trading at the support zone.
1. Trendline breakout retest
2. Ichimoku cloud support
3. Psychological level of 17,000
The pattern negates below 16,957.
#Nifty
#KeepItSimple
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Fast Profits Daily - Should You Invest in Special Chemical Stocks?
The risk-reward equation is favorable in the specialty chemical sector right now. Watch out for these stocks…
http://www.eqtm.in/s3Z4T
The risk-reward equation is favorable in the specialty chemical sector right now. Watch out for these stocks…
http://www.eqtm.in/s3Z4T
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Dow Jones reclaim 32,000 after volatile week; gain 1.2% last week. The major hurdle for bulls this week will be 32,550-32,800 zone; the weekly close above resistance zone will confirm bullish reversal on chart.
Nifty traded in the range last week but bears seems losing the momentum as we witnessed couple of doji candlesticks followed by hammer, the bullish reversal candlestick pattern. The breakout from the hurdle of 16,800-17,300 will be key in the truncated week.
BankNifty may continue to be volatile as US and European Bank Index dance on the tune of economic data and banking crisis news.
Two sectors for bulls this week may be IT and Commodity.
#SGXNifty
#PreMarket
Nifty traded in the range last week but bears seems losing the momentum as we witnessed couple of doji candlesticks followed by hammer, the bullish reversal candlestick pattern. The breakout from the hurdle of 16,800-17,300 will be key in the truncated week.
BankNifty may continue to be volatile as US and European Bank Index dance on the tune of economic data and banking crisis news.
Two sectors for bulls this week may be IT and Commodity.
#SGXNifty
#PreMarket
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Nifty Energy Index – Bulls Capitalizing on Technical Supports
Index has corrected over 16% in the first two months of 2023 but the recovery in March indicates a sign of reversal on the chart.
On the weekly chart, the index is trading at the confluence of support.
1. Falling Channel - The fall has halted at the support line of the channel.
2. Fibonacci Retracement - The index has taken support at 38.20% Fibonacci level of the rise from March 2020 lows to the high of April 2022.
3. Piercing Candlestick Pattern - The bullish reversal pattern forming at the support of the channel and Fibonacci retracement strengthens the reversal in trend.
4. 200WEMA - The 200-week EMA defines long-term trend of an asset.
On the contrary, when Nifty50 is negative this month, the Energy index gained over 5% indicating an outperformance.
Constituents of Energy Index
Reliance Industries
NTPC
PowerGrid
ONGC
Adani Green Energy Ltd
BPCL
Tata Power
IOC
GAIL
Adani Transmission
#EnergyIndex
#KeepItSimple
Index has corrected over 16% in the first two months of 2023 but the recovery in March indicates a sign of reversal on the chart.
On the weekly chart, the index is trading at the confluence of support.
1. Falling Channel - The fall has halted at the support line of the channel.
2. Fibonacci Retracement - The index has taken support at 38.20% Fibonacci level of the rise from March 2020 lows to the high of April 2022.
3. Piercing Candlestick Pattern - The bullish reversal pattern forming at the support of the channel and Fibonacci retracement strengthens the reversal in trend.
4. 200WEMA - The 200-week EMA defines long-term trend of an asset.
On the contrary, when Nifty50 is negative this month, the Energy index gained over 5% indicating an outperformance.
Constituents of Energy Index
Reliance Industries
NTPC
PowerGrid
ONGC
Adani Green Energy Ltd
BPCL
Tata Power
IOC
GAIL
Adani Transmission
#EnergyIndex
#KeepItSimple
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Forwarded from Equitymaster
Do you believe the BSE Sensex will hit a new high this year?
Final Results
47%
Yes
40%
No
13%
Can't say
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US markets trade mix yesterday as Bank Index gains 3% while IT slips by 0.5%; Dow Jones gains 0.6%.
On daily chart of Dow Jones, index retested the breakdown of triangle pattern at 32,550. This is the second attempt for pattern failure which will confirm on a close above 32,800.
On Nifty, the volatile day ends at 16,985 gaining 40points.
The Option Writers are fighting for 17,000 ahead of monthly expiry tomorrow. The major support is placed at 16,700-16,800 while resistance at 17,235-17,300 on Nifty.
BankNifty may witness positive momentum as US Bank Index gains 3%; likely range of 38,900-40,200 till expiry.
#SGXNifty
#PreMarket
On daily chart of Dow Jones, index retested the breakdown of triangle pattern at 32,550. This is the second attempt for pattern failure which will confirm on a close above 32,800.
On Nifty, the volatile day ends at 16,985 gaining 40points.
The Option Writers are fighting for 17,000 ahead of monthly expiry tomorrow. The major support is placed at 16,700-16,800 while resistance at 17,235-17,300 on Nifty.
BankNifty may witness positive momentum as US Bank Index gains 3%; likely range of 38,900-40,200 till expiry.
#SGXNifty
#PreMarket
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Forwarded from Equitymaster
Here's a list of stocks to watch out for today. This list is updated LIVE, so be sure to check back regularly... http://www.eqtm.in/Me4d3
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Global and domestic markets traded in the range yesterday; Asian indices starts off the day on a positive note with HangSeng up by 2.5% and Nikkei by 0.5%.
SGX Nifty trades up by 0.5% at 17,078.
It's a tug of war between 17000CE and 17000PE Option Writers this expiry as 17000CE OI stands at 2.86L and 17000PE at 1.97L contracts. It indicates another range-bound day on the index while stock volatility may prolong.
Technically, the break of 16,900 may trigger the fall towards 16,800 while 17,135 may act as a resistance zone on Nifty.
On BankNifty, the index is likely to trade in the range of 36,867-40,200.
#PreMarket
#SGXNifty
SGX Nifty trades up by 0.5% at 17,078.
It's a tug of war between 17000CE and 17000PE Option Writers this expiry as 17000CE OI stands at 2.86L and 17000PE at 1.97L contracts. It indicates another range-bound day on the index while stock volatility may prolong.
Technically, the break of 16,900 may trigger the fall towards 16,800 while 17,135 may act as a resistance zone on Nifty.
On BankNifty, the index is likely to trade in the range of 36,867-40,200.
#PreMarket
#SGXNifty
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