Dow Jones is trading in the range of 33,700-34,100 between the 13th April 2023 bar; the break of 34,200 may resume bullish momentum. The 4-month descending broadening wedge pattern breakout will be confirmed above 34,400 indicating the momentum towards 35,000+ levels.
Bulls are in danger on Nifty as the bearish belt-hold candlestick pattern for consecutive days indicates the sign of reversal. The break of 17,500 will confirm the momentum back to 17,000 levels while the break of 17,900 may negate the structure.
Bank Nifty has outperformed in yesterday’s session but the bearish belt-hold candlestick high is yet to be taken out; eyes 41,800-42,000 zone for tomorrow’s expiry till 42,650 is negated.
SGXNifty indicates a flat opening around 17,700 levels.
#PreMarket
#SGXNifty
Bulls are in danger on Nifty as the bearish belt-hold candlestick pattern for consecutive days indicates the sign of reversal. The break of 17,500 will confirm the momentum back to 17,000 levels while the break of 17,900 may negate the structure.
Bank Nifty has outperformed in yesterday’s session but the bearish belt-hold candlestick high is yet to be taken out; eyes 41,800-42,000 zone for tomorrow’s expiry till 42,650 is negated.
SGXNifty indicates a flat opening around 17,700 levels.
#PreMarket
#SGXNifty
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Nifty - Expect a Range Trading between 17,570-17,870 📈📉
The bearish belt-hold candlestick pattern, previous swing high and the gap support signal the market may trade in a range for a day or so.
The consecutive day's bearish belt-hold pattern turns the table from bullish to bearish on the chart.
Bulls can be in the game only above 17,900.
#Nifty
#WeeklyExpiry
#KeepItSimple
The bearish belt-hold candlestick pattern, previous swing high and the gap support signal the market may trade in a range for a day or so.
The consecutive day's bearish belt-hold pattern turns the table from bullish to bearish on the chart.
Bulls can be in the game only above 17,900.
#Nifty
#WeeklyExpiry
#KeepItSimple
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Fast Profits Daily
Nifty - Expect a Range Trading between 17,570-17,870 📈📉 The bearish belt-hold candlestick pattern, previous swing high and the gap support signal the market may trade in a range for a day or so. The consecutive day's bearish belt-hold pattern turns the table…
Nifty at Support Zone of 17,570.
Are you BUYING?
👍 Yes, buying the dip
👎 No, It's bearish reversal
❤️ Wait and Watch 👀
Are you BUYING?
👍 Yes, buying the dip
👎 No, It's bearish reversal
❤️ Wait and Watch 👀
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Dow Jones trades in the range for straight fourth day; the breakout of 33,500-34,300 either side can accelerate the momentum.
Nifty tested the support zone of 17,570 yesterday and managed to close above 17,600.
On weekly expiry today, 17,500-17,570 may act as a major support while 17,719-17,737 may act as intraday resistance.
On BankNifty, with negative biased and psychological level of 42,000, index is likely to hold 41,800-42,000 zone while 42,500 will be resistance.
HDFC Bank and ICICI Bank trending with negative biased while Axis Bank and Kotak Bank trending bullish signals a mix view on index.
#PreMarket
#SGXNifty
Nifty tested the support zone of 17,570 yesterday and managed to close above 17,600.
On weekly expiry today, 17,500-17,570 may act as a major support while 17,719-17,737 may act as intraday resistance.
On BankNifty, with negative biased and psychological level of 42,000, index is likely to hold 41,800-42,000 zone while 42,500 will be resistance.
HDFC Bank and ICICI Bank trending with negative biased while Axis Bank and Kotak Bank trending bullish signals a mix view on index.
#PreMarket
#SGXNifty
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Fast Profits Daily
Nifty at Support Zone of 17,570. Are you BUYING? 👍 Yes, buying the dip 👎 No, It's bearish reversal ❤️ Wait and Watch 👀
Buyers enjoying the move 📈
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Nifty and BankNifty trade in the range on weekly expiry. Dow Jones too trading in the range of 33,500-34,100.
On Nifty, 17,570-17,500 will be the key support area for bulls while 17,900 will act as resistance zone.
Stochastic oscillator on a short-term chart indicates the bullish momentum as far as 17,500 is not negated.
On BankNifty, 42,000 acted as support yesterday while the high of bearish belt-hold candlestick pattern at 42,603 will act as the wall for bulls.
For USDINR traders, the "three white soldiers" bullish reversal candlestick pattern indicates the momentum towards 83. The breakout from the triangle pattern on the daily chart with resistance at 83.30 and support at 81.30 will decide the trend for 2023.
#SGXNifty
#PreMarket
On Nifty, 17,570-17,500 will be the key support area for bulls while 17,900 will act as resistance zone.
Stochastic oscillator on a short-term chart indicates the bullish momentum as far as 17,500 is not negated.
On BankNifty, 42,000 acted as support yesterday while the high of bearish belt-hold candlestick pattern at 42,603 will act as the wall for bulls.
For USDINR traders, the "three white soldiers" bullish reversal candlestick pattern indicates the momentum towards 83. The breakout from the triangle pattern on the daily chart with resistance at 83.30 and support at 81.30 will decide the trend for 2023.
#SGXNifty
#PreMarket
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Nifty - Bulls vs Bears on Friday 📈📉
Index is trending within the range of the 17,570-17,870 zone for the last couple of days.
On Tuesday, I highlighted the rangebound trading ahead of the weekly expiry.
Index tends to break the range on Friday and this time it's Bulls vs Bears for 17,500.
On derivatives data, 17500PE and 17600PE are holding over a lakh of OI for the 27th April expiry while 17700CE holds OI of over 2L.
The breakout of 17,500-17,900 may decide the trending move; till then it is the option writer's paradise.
#TGIF
#Nifty
#KeepItSimple
Index is trending within the range of the 17,570-17,870 zone for the last couple of days.
On Tuesday, I highlighted the rangebound trading ahead of the weekly expiry.
Index tends to break the range on Friday and this time it's Bulls vs Bears for 17,500.
On derivatives data, 17500PE and 17600PE are holding over a lakh of OI for the 27th April expiry while 17700CE holds OI of over 2L.
The breakout of 17,500-17,900 may decide the trending move; till then it is the option writer's paradise.
#TGIF
#Nifty
#KeepItSimple
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MCX Aluminium- Forming the base 📈
The price is taking support at the medium-term horizontal trendline (green) placed at the key psychological level of Rs.200.
The short-term breakout (red) indicates the bulls can be in the game after reversing from support zone.
The bullish momentum can be on cards till Rs 195 is negated.
#Aluminium
#Commodity
#KeepilItSimple
The price is taking support at the medium-term horizontal trendline (green) placed at the key psychological level of Rs.200.
The short-term breakout (red) indicates the bulls can be in the game after reversing from support zone.
The bullish momentum can be on cards till Rs 195 is negated.
#Aluminium
#Commodity
#KeepilItSimple
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A Bearish Belt-hold and Bearish Engulfing to end the week on Nifty mark a risk of bullish momentum; 17,500-17,900 will be the key decider this week.
US markets traded in the range last week. The bullish momentum on Dow Jones can be expected only on a break of 34,500 or the rangebound momentum may prolong.
This Friday close will be weekly and monthly close. Nifty has formed long-legged doji last month and the close above 17,800 will confirm the short-term bottom at 16,800.
On BankNifty, the break of 42,700 will resume the bullish momentum while 41,488 will be the support for the week.
#SGXNifty
#PreMarket
US markets traded in the range last week. The bullish momentum on Dow Jones can be expected only on a break of 34,500 or the rangebound momentum may prolong.
This Friday close will be weekly and monthly close. Nifty has formed long-legged doji last month and the close above 17,800 will confirm the short-term bottom at 16,800.
On BankNifty, the break of 42,700 will resume the bullish momentum while 41,488 will be the support for the week.
#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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Forwarded from Equitymaster
Don't Fall for the Trap in Pharma Stocks
Multiple technical factors indicate that investors should avoid pharma stocks in the current market. More details inside…
Pharma Stocks Outlook
Here’s an extract…
Pharma is a defensive sector but the golden period of the pandemic for pharma companies marked a top for the sector.
Pharmaceutical products were in high demand during 2020-21. As soon as investors realised the V-shaped recovery in global equities, money flew out from pharma stocks into aggressive sectors.
But recently the Nifty Pharma index rallied for straight five weeks and paused at the major hurdle on the chart.
http://www.eqtm.in/Nn57C
Multiple technical factors indicate that investors should avoid pharma stocks in the current market. More details inside…
Pharma Stocks Outlook
Here’s an extract…
Pharma is a defensive sector but the golden period of the pandemic for pharma companies marked a top for the sector.
Pharmaceutical products were in high demand during 2020-21. As soon as investors realised the V-shaped recovery in global equities, money flew out from pharma stocks into aggressive sectors.
But recently the Nifty Pharma index rallied for straight five weeks and paused at the major hurdle on the chart.
http://www.eqtm.in/Nn57C
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Indian markets started the week with bullish tone as Nifty and Sensex gains 0.7% each; bulls likely to rule in the monthly expiry week.
Nifty closed near the day high but the major hurdle for resumption of bullish trend is 17,900.
Which sector can trigger bullish breakout?
1. Bank Nifty has closed above the bearish belt-hold candlestick pattern indicating the bulls are back in the game for 43,000+.
2. HDFC twins are leading the table for Fin Serv. SBI, Axis and Kotak witnessed the technical breakout while the short covering rally in Bajaj twins may adds the fuel to the rally.
3. TCS is showing the sign of reversal for IT index. Ihe short covering and lower rollover on derivative front will be the first indication of an end to 15months of bearish momentum for the sector. Watch technical view on IT Index here
4. Pharma witnessed the short-lived rally but trading at the major hurdle and an overbought zone on charts. Read here
SGX Nifty indicating the positive opening around 17,800.
#PreMarket
#SGXNifty
Nifty closed near the day high but the major hurdle for resumption of bullish trend is 17,900.
Which sector can trigger bullish breakout?
1. Bank Nifty has closed above the bearish belt-hold candlestick pattern indicating the bulls are back in the game for 43,000+.
2. HDFC twins are leading the table for Fin Serv. SBI, Axis and Kotak witnessed the technical breakout while the short covering rally in Bajaj twins may adds the fuel to the rally.
3. TCS is showing the sign of reversal for IT index. Ihe short covering and lower rollover on derivative front will be the first indication of an end to 15months of bearish momentum for the sector. Watch technical view on IT Index here
4. Pharma witnessed the short-lived rally but trading at the major hurdle and an overbought zone on charts. Read here
SGX Nifty indicating the positive opening around 17,800.
#PreMarket
#SGXNifty
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