Gold - The Moon Phase Bottom?
Do you believe the Commodity trading and Moon Phase cycle help you to analyze and trade?
Many traders follow the moon phase cycle to predict the next leg of momentum in stock/commodity markets. They even analyze deep and predict the time to enter the trade, and are successful.
The new moon phases are signs of reversal or resumption of trend considering some other parameters in the studies of astro.
If we analyze the recent chart of COMEX Gold Futures, yesterday's low of $1,677 was hit on new moon day and price turned up sharply.
The price completed the bullish AB=CD harmonic pattern. The harmonic patterns are reversal in nature.
This reversal pattern is formed right at the support of previous swings. RSI is back into oversold zone and historically, it is proven to be short-term bottom when price mark higher high and RSI in oversold zone.
Any dip around $1,700, the bulls might grab it with both the hands.
#KeepItSimple
Do you believe the Commodity trading and Moon Phase cycle help you to analyze and trade?
Many traders follow the moon phase cycle to predict the next leg of momentum in stock/commodity markets. They even analyze deep and predict the time to enter the trade, and are successful.
The new moon phases are signs of reversal or resumption of trend considering some other parameters in the studies of astro.
If we analyze the recent chart of COMEX Gold Futures, yesterday's low of $1,677 was hit on new moon day and price turned up sharply.
The price completed the bullish AB=CD harmonic pattern. The harmonic patterns are reversal in nature.
This reversal pattern is formed right at the support of previous swings. RSI is back into oversold zone and historically, it is proven to be short-term bottom when price mark higher high and RSI in oversold zone.
Any dip around $1,700, the bulls might grab it with both the hands.
#KeepItSimple
Chart of the day: Nifty Private Bank Index
Bank Nifty has underperformed Nifty since May 2021. As Nifty trades as all-time high, Bank Nifty is still struggling to move out of the range.
And the reason is Nifty Private Bank Index which is at the do-or-die level of breakout. Bulls need to break 19,000 level mark to turn the tide of Bank Nifty's underperformance.
Even RSI is hovering around the same level. The move above 19,000 on Private Bank Index can trigger bullish range shift in RSI.
Nifty Private Bank Index Constituents & Weightage:
HDFC Bank Ltd. 25.47%
ICICI Bank Ltd. 24.87%
Kotak Mahindra Bank Ltd. 12.77%
Axis Bank Ltd. 12.47%
IndusInd Bank Ltd. 10.67%
Bandhan Bank Ltd. 3.55%
Federal Bank Ltd. 3.15%
Yes Bank Ltd. 2.94%
IDFC First Bank Ltd. 2.50%
RBL Bank Ltd. 1.62%
#KeepItSimple
Bank Nifty has underperformed Nifty since May 2021. As Nifty trades as all-time high, Bank Nifty is still struggling to move out of the range.
And the reason is Nifty Private Bank Index which is at the do-or-die level of breakout. Bulls need to break 19,000 level mark to turn the tide of Bank Nifty's underperformance.
Even RSI is hovering around the same level. The move above 19,000 on Private Bank Index can trigger bullish range shift in RSI.
Nifty Private Bank Index Constituents & Weightage:
HDFC Bank Ltd. 25.47%
ICICI Bank Ltd. 24.87%
Kotak Mahindra Bank Ltd. 12.77%
Axis Bank Ltd. 12.47%
IndusInd Bank Ltd. 10.67%
Bandhan Bank Ltd. 3.55%
Federal Bank Ltd. 3.15%
Yes Bank Ltd. 2.94%
IDFC First Bank Ltd. 2.50%
RBL Bank Ltd. 1.62%
#KeepItSimple
The roller coaster day on D-street, Nifty closes flat at 16,282 gaining 2points.
The gap area support and rising trendline highlighted in yesterday’s post market update, bulls grabbed an opportunity with both the hands at 16,160-16,200 and took market higher.
Bulls are in control but the risk of unhealthy market breadth is still the hanging sword.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The gap area support and rising trendline highlighted in yesterday’s post market update, bulls grabbed an opportunity with both the hands at 16,160-16,200 and took market higher.
Bulls are in control but the risk of unhealthy market breadth is still the hanging sword.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the Day: Nifty 500
The breakout, retest and resumption of bullish momentum - as a technical trader, you might have experienced this setup very often and this is the best low risk, high reward trade setup.
This structure is visible on Nifty 500 index when it retested the breakout of 13,750 on Wednesday.
The resumption in bullish momentum indicates the strength to go higher.
#KeepItSimple
The breakout, retest and resumption of bullish momentum - as a technical trader, you might have experienced this setup very often and this is the best low risk, high reward trade setup.
This structure is visible on Nifty 500 index when it retested the breakout of 13,750 on Wednesday.
The resumption in bullish momentum indicates the strength to go higher.
#KeepItSimple
Fast Profits Daily - Where Will the Nifty Go Now?
What happens now on the Nifty? Find out in this video...
http://www.eqtm.in/m8N3F
What happens now on the Nifty? Find out in this video...
http://www.eqtm.in/m8N3F
The bulls rejoice as Nifty hits all-time high of 16,375; ends at 16,364 gaining 0.5%.
Midcap and Small cap reverse after testing 50DEMA; the bullish trend resumption can take off these indices to new highs.
Nifty trades in broadening triangle; the breakout of 16,409 will accelerate the momentum above 16,500 levels.
Watch my video explaining the chart structure of Nifty50 and Nifty500. Click here Where Will the Nifty Go Now? | Nifty | Brijesh Bhatia - https://youtu.be/4p6X98zBPxo
Brijesh Bhatia
Research Analyst, Fast Profit Report
Midcap and Small cap reverse after testing 50DEMA; the bullish trend resumption can take off these indices to new highs.
Nifty trades in broadening triangle; the breakout of 16,409 will accelerate the momentum above 16,500 levels.
Watch my video explaining the chart structure of Nifty50 and Nifty500. Click here Where Will the Nifty Go Now? | Nifty | Brijesh Bhatia - https://youtu.be/4p6X98zBPxo
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty Intraday Traders - Don't Miss this Chart on Friday - The 13th
Index hits the ATH of 16,375 in yesterday's session and even closed at the highest level ever.
The trend continue to remain bullish but....
The close is right at the resistance of megaphone or broadening triangle pattern keeping an intraday traders between the devil and the deep blue sea.
The move above 16,415 may accelerate the bullish momentum, else we dip back to the test of lower end or gap area.
Intraday traders have an excellent RR trades on Friday - The 13th, be it long or short trade.
#KeepItSimple
The trend continue to remain bullish but....
The close is right at the resistance of megaphone or broadening triangle pattern keeping an intraday traders between the devil and the deep blue sea.
The move above 16,415 may accelerate the bullish momentum, else we dip back to the test of lower end or gap area.
Intraday traders have an excellent RR trades on Friday - The 13th, be it long or short trade.
#KeepItSimple
Fast Profits Daily
Nifty Intraday Traders - Don't Miss this Chart on Friday - The 13th Index hits the ATH of 16,375 in yesterday's session and even closed at the highest level ever. The trend continue to remain bullish but.... The close is right at the resistance of megaphone…
Nifty - Updated Chart
Bulls break above 16,415 and riding the wave. (CMP-16,477)
Bulls break above 16,415 and riding the wave. (CMP-16,477)
The party begins on D-street as index hits all-time high; Nifty at 16,543 and Sensex at 55,487.
The broadening triangle breakout above 16,400 accelerated the momentum above 16,500 as highlighted in the morning. Watch chart here https://t.me/FastProfitsReport/142
We expect the bullish momentum to extent towards 16,716-16,849 next week.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The broadening triangle breakout above 16,400 accelerated the momentum above 16,500 as highlighted in the morning. Watch chart here https://t.me/FastProfitsReport/142
We expect the bullish momentum to extent towards 16,716-16,849 next week.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the day: Nifty PSUBank Index
PSU Bank Index is underperforming Private Bank index since the start of August 2021.
Index is trading at the confluence of support:
1. Horizontal Trendline
2. 38.20% Fibonacci retracement
3. 100DEMA
As index hovers around support zone, we are witnessing bullish divergence on RSI signaling bulls are about to come back.
#KeepItSimple
PSU Bank Index is underperforming Private Bank index since the start of August 2021.
Index is trading at the confluence of support:
1. Horizontal Trendline
2. 38.20% Fibonacci retracement
3. 100DEMA
As index hovers around support zone, we are witnessing bullish divergence on RSI signaling bulls are about to come back.
#KeepItSimple
Chart of the Day: Nifty Infra Index
Nifty Infra index is trading at 13years highest level indicating the worst is over for the sector.
The breakout above the resistance zone followed by flag breakout signals the strength in bullish momentum.
Double top or Super pattern breakout on Point & Figure (P&F) chart is one more signal for strong bullish trend.
At current market price of 4,580, the structure seems very bullish for next 2-3 months till it hold the support zone of 4,300.
#KeepItSimple
Nifty Infra index is trading at 13years highest level indicating the worst is over for the sector.
The breakout above the resistance zone followed by flag breakout signals the strength in bullish momentum.
Double top or Super pattern breakout on Point & Figure (P&F) chart is one more signal for strong bullish trend.
At current market price of 4,580, the structure seems very bullish for next 2-3 months till it hold the support zone of 4,300.
#KeepItSimple
Fast Profits Daily - PSU Banks Are Set for a Rally
Here's why I think PSU banking stocks are your best trading bet right now.
http://www.eqtm.in/Bq95A
Here's why I think PSU banking stocks are your best trading bet right now.
http://www.eqtm.in/Bq95A
IT and FMCG leads the way to all-time high of 16,628 for Nifty; ends at 16,614.60 gaining 0.31%.
The money flow into large caps from midcaps since start of August 2021 highlights an outperformance of Nifty over midcap and smallcap.
Banks need to participate for next leg of bullish momentum on D-street.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The money flow into large caps from midcaps since start of August 2021 highlights an outperformance of Nifty over midcap and smallcap.
Banks need to participate for next leg of bullish momentum on D-street.
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍1
Forwarded from Equitymaster
Fast Profits Daily - How to Buy the Dip in a Bull Market
In this video, I'll show you my three step strategy to profitably 'buy the dip'.
http://www.eqtm.in/Zs46B
In this video, I'll show you my three step strategy to profitably 'buy the dip'.
http://www.eqtm.in/Zs46B
Fast Profits Daily
Gold - The Moon Phase Bottom? Do you believe the Commodity trading and Moon Phase cycle help you to analyze and trade? Many traders follow the moon phase cycle to predict the next leg of momentum in stock/commodity markets. They even analyze deep and predict…
Gold - The Moon Phase Bottom?
An Updated Chart - $1,720 to $1,797
An Updated Chart - $1,720 to $1,797
SGX Nifty - Confluence of Support
SGX Nifty goes wild esp. when Indian markets are off.
With markets off today in India, SGX was down by almost 500pts from the high of 16,702 and found support at multiple technical levels.
1. Fibonacci retracement of 38.20% level.
2. 100EMA on 4hours chart
3. Previous swing lows
The positive reversal on RSI indicates the bulls have an opportunity to buy and index is likely to head higher.
Once it breaks and close above 50EMA on 4hrs chart which is placed at 16,413, it confirms the higher low or swing low.
#KeepItSimple
SGX Nifty goes wild esp. when Indian markets are off.
With markets off today in India, SGX was down by almost 500pts from the high of 16,702 and found support at multiple technical levels.
1. Fibonacci retracement of 38.20% level.
2. 100EMA on 4hours chart
3. Previous swing lows
The positive reversal on RSI indicates the bulls have an opportunity to buy and index is likely to head higher.
Once it breaks and close above 50EMA on 4hrs chart which is placed at 16,413, it confirms the higher low or swing low.
#KeepItSimple
Today morning, I went LIVE on CNBC TV18 to share my views on the market.
We discussed whether the recent correction is a sign of worry or whether it is just a minor blip in the major bullish trend. Plus, I also shared my views on many stocks spread over Financial Services, IT, and FMCG sectors. You may discover some great trading ideas in our discussion.
Just click the link below to watch the session in full…
https://youtu.be/zhp6JyN8AZ0
We discussed whether the recent correction is a sign of worry or whether it is just a minor blip in the major bullish trend. Plus, I also shared my views on many stocks spread over Financial Services, IT, and FMCG sectors. You may discover some great trading ideas in our discussion.
Just click the link below to watch the session in full…
https://youtu.be/zhp6JyN8AZ0
YouTube
Equitymaster's Brijesh Bhatia Shares His Views On Today's Market Session | Trading Hour | CNBC TV18
Brijesh Bhatia, the Senior Research Analyst at Equitymaster, joins in to discuss some of the individual stocks.
#CNBCTV18 #BrijeshBhatia #Equitymaster #Nifty #Sensex
CNBC-TV18 is India's No.1 Business medium and the undisputed leader in business news.…
#CNBCTV18 #BrijeshBhatia #Equitymaster #Nifty #Sensex
CNBC-TV18 is India's No.1 Business medium and the undisputed leader in business news.…
The truncated week witnessed profit bookings on last day of the week; Nifty ends the week at 16,450 losing 0.5%.
Nifty tested the breakout level of 16,350 and rallied higher. The 16,150-16,350 zone will act as major support for next week.
Large caps are the flavor of the month and it is likely to continue in next week; energy and IT will be on my watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty tested the breakout level of 16,350 and rallied higher. The 16,150-16,350 zone will act as major support for next week.
Large caps are the flavor of the month and it is likely to continue in next week; energy and IT will be on my watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Fast Profits Daily
Bitcoin - Is $28,000 the bottom for H2-2021? The bitcoin (BTCUSD) has formed the Spring / Shakeout low of $28,600 in June 2021 as per Wyckoff Theory. After posting the low of $29,296 in July 2021, it marked as Last Point of Support (LPS) and trading above…
Bitcoin - Above $50,000
In June 2021 when Bitcoin was trading around $32,000, I have posted chart of an accumulation as per Wyckoff theory.
I posted an updated chart on 26th July 2021 indicating the bottom for H2-2021 when it was trading around $36,500 as confirmation of bottoming technical structure.
Today, it has crossed $50,000 mark giving the return of more than 50%, and more to come...
The prices have now entered phase-E as per Wyckoff theory and I believe the bullish momentum to continue for cryptos.
#KeepItSimple
In June 2021 when Bitcoin was trading around $32,000, I have posted chart of an accumulation as per Wyckoff theory.
I posted an updated chart on 26th July 2021 indicating the bottom for H2-2021 when it was trading around $36,500 as confirmation of bottoming technical structure.
Today, it has crossed $50,000 mark giving the return of more than 50%, and more to come...
The prices have now entered phase-E as per Wyckoff theory and I believe the bullish momentum to continue for cryptos.
#KeepItSimple
Nifty opens gap-up at 16,592; ends on flat note at 16,496 gaining 0.28%.
Index retests the megaphone breakout; 16,260-16,300 will be decider levels for bulls.
The money flow from midcap and smallcap might continue for more couple of weeks; Nifty50 stocks should be on your watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Index retests the megaphone breakout; 16,260-16,300 will be decider levels for bulls.
The money flow from midcap and smallcap might continue for more couple of weeks; Nifty50 stocks should be on your watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the Day: Bank Nifty Futures - Ahead of Monthly Expiry
Bank Nifty has underperformed against the Nifty for last couple of expiry.
The technical setup on hourly chart of Bank Nifty Futures indicates the short covering rally can be on cards ahead of monthly expiry which is on 26th August 2021.
The high of 10 period Donchian Channel on hourly chart is placed at 35,401 which means, if high is taken out, the slope of channel will turn northwards for the first time after 21 bars.
Now this convince me that the breakout can be on cards as 21 is the Fibonacci number and Fibonacci time cycle breakouts are agile.
Adding to it, the Heikin Ashi candles are indicating an exhaustion to bearish momentum and bullish candles signals reversal.
The positive crossover on stochastic indicates the bullish momentum can accelerate above the breakout level.
The move above 35,401-35,415 can witness short covering rally.
#KeepItSimple
Bank Nifty has underperformed against the Nifty for last couple of expiry.
The technical setup on hourly chart of Bank Nifty Futures indicates the short covering rally can be on cards ahead of monthly expiry which is on 26th August 2021.
The high of 10 period Donchian Channel on hourly chart is placed at 35,401 which means, if high is taken out, the slope of channel will turn northwards for the first time after 21 bars.
Now this convince me that the breakout can be on cards as 21 is the Fibonacci number and Fibonacci time cycle breakouts are agile.
Adding to it, the Heikin Ashi candles are indicating an exhaustion to bearish momentum and bullish candles signals reversal.
The positive crossover on stochastic indicates the bullish momentum can accelerate above the breakout level.
The move above 35,401-35,415 can witness short covering rally.
#KeepItSimple