US markets corrects over half a percent as Fed hikes interest rate by 25bps.
On the weekly chart of Dow Jones, index is reversing from the upper band of descending broadening wedge pattern indicating 34,500 as a bullish resumption levels.
Indian markets traded in a range after gap-down opening. The opportunities are in focusing on stocks specific actions as we witnessed Midcap stocks were hitting 52-weeks high.
On weekly expiry, Nifty is likely to trade in the range of 17,969-18,241 while BankNifty may range between 42,900-43,400.
SGXNifty indicates negative opening of over 60pts.
#SGXNifty
#PreMarket
On the weekly chart of Dow Jones, index is reversing from the upper band of descending broadening wedge pattern indicating 34,500 as a bullish resumption levels.
Indian markets traded in a range after gap-down opening. The opportunities are in focusing on stocks specific actions as we witnessed Midcap stocks were hitting 52-weeks high.
On weekly expiry, Nifty is likely to trade in the range of 17,969-18,241 while BankNifty may range between 42,900-43,400.
SGXNifty indicates negative opening of over 60pts.
#SGXNifty
#PreMarket
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NSE Nifty Index Heatmap
https://www.equitymaster.com/india-markets/nifty/nse-nifty-heatmap?utm_source=short-url
https://www.equitymaster.com/india-markets/nifty/nse-nifty-heatmap?utm_source=short-url
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BEML following other Railway Stocks 🔥
https://www.equitymaster.com/india-markets/railway/Railway-heatmap
https://www.equitymaster.com/india-markets/railway/Railway-heatmap
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US markets tumble for straight fourth days; Dow Jones holds support at the key psychological level of 33,000.
Nifty holds the support of 18,000 and the last hour bullish momentum confirms the "double top buy" breakout on Point & Figure charts.
BankNifty crosses the hurdle of 43,600; the bulls may accelerate the momentum towards 44,345-44,780.
#PreMarket
#SGXNifty
Nifty holds the support of 18,000 and the last hour bullish momentum confirms the "double top buy" breakout on Point & Figure charts.
BankNifty crosses the hurdle of 43,600; the bulls may accelerate the momentum towards 44,345-44,780.
#PreMarket
#SGXNifty
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US markets rebound on Friday ending four days losing streak on Dow Jones; Bank Index gains the most with 3.5% followed by IT with gains of 2.25%.
On Nifty, the bullish head and shoulders breakout and the resistance-turned-support at the previous high creates an accumulation zone at 17,920-18,060 zone. The reversal from this zone signals the test of 18,410-18,534 range in May series.
BankNifty witnessed the fall of over 1000pts as HDFC Bank dips 6% which weigh 27% in the index.
If bulls manage to hold 42,389-42,523 zone, index is likely to witness reversal; the failure can test the 41,800 levels this week.
SGX Nifty indicates an opening around 18,150.
#SGXNifty
#PreMarket
On Nifty, the bullish head and shoulders breakout and the resistance-turned-support at the previous high creates an accumulation zone at 17,920-18,060 zone. The reversal from this zone signals the test of 18,410-18,534 range in May series.
BankNifty witnessed the fall of over 1000pts as HDFC Bank dips 6% which weigh 27% in the index.
If bulls manage to hold 42,389-42,523 zone, index is likely to witness reversal; the failure can test the 41,800 levels this week.
SGX Nifty indicates an opening around 18,150.
#SGXNifty
#PreMarket
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Forwarded from Equitymaster
ITC Share Price: The Driving Force Behind FMCG Sector’s Bull Run
As long as ITC continues to perform strongly, it’s likely that the FMCG index will continue to be buoyed by its weightage in the coming months.
ITC Drives FMCG Index
Here’s an extract…
As one of the largest FMCG companies in India, ITC's strong financial performance and market dominance has made it a key player in the industry.
The company's diverse product portfolio, including popular brands such as Aashirvad, Sunfeast, and Bingo! have made it a market leader.
In recent years, ITC has also made significant strides in sustainability and corporate social responsibility, which has further boosted its reputation and appeal among investors.
Read on for more…
http://www.eqtm.in/Lq7w6
As long as ITC continues to perform strongly, it’s likely that the FMCG index will continue to be buoyed by its weightage in the coming months.
ITC Drives FMCG Index
Here’s an extract…
As one of the largest FMCG companies in India, ITC's strong financial performance and market dominance has made it a key player in the industry.
The company's diverse product portfolio, including popular brands such as Aashirvad, Sunfeast, and Bingo! have made it a market leader.
In recent years, ITC has also made significant strides in sustainability and corporate social responsibility, which has further boosted its reputation and appeal among investors.
Read on for more…
http://www.eqtm.in/Lq7w6
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Global markets trade on a mixed trend; Indian markets rebound after Friday's dip as Nifty and Sensex gain over a per cent.
The bullish trend is getting stronger on the Heikin Ashi chart of Nifty indicating the momentum towards a new high.
BankNifty after the HDFC Bank shock recovers in yesterday's session but has a major hurdle at 43,589-43,746. The range of 42,890-43,800 may be expected for weekly expiry.
The Nifty Auto index is breaking out of the Fibonacci time cycle theory of 178 trading days and trading at an all-time high; auto stocks should be in focus for the May series.
#SGXNifty
#PreMarket
The bullish trend is getting stronger on the Heikin Ashi chart of Nifty indicating the momentum towards a new high.
BankNifty after the HDFC Bank shock recovers in yesterday's session but has a major hurdle at 43,589-43,746. The range of 42,890-43,800 may be expected for weekly expiry.
The Nifty Auto index is breaking out of the Fibonacci time cycle theory of 178 trading days and trading at an all-time high; auto stocks should be in focus for the May series.
#SGXNifty
#PreMarket
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Global and Indian equities traded in the range yesterday; Dow Jones and Nasdaq ended on a negative note with 0.17% and 0.63% respectively.
HangSeng started the day on lower opening and recovered to trade on a flat note.
It signals positive opening for SGX Nifty which is trading up by 35pts.
The bullish candle, retracement and trend resumption candle signal the bulls are in control of the momentum and this may prolong towards 18,445-18560 zone on Nifty.
BankNifty is facing the hurdle at the resistance zone of 43,589-43,713; the support is placed at 42,871-42,777 zone.
Gas stocks are resuming the bullish momentum and it should be on your watchlist.
#SGXNIFTY
#PreMarket
HangSeng started the day on lower opening and recovered to trade on a flat note.
It signals positive opening for SGX Nifty which is trading up by 35pts.
The bullish candle, retracement and trend resumption candle signal the bulls are in control of the momentum and this may prolong towards 18,445-18560 zone on Nifty.
BankNifty is facing the hurdle at the resistance zone of 43,589-43,713; the support is placed at 42,871-42,777 zone.
Gas stocks are resuming the bullish momentum and it should be on your watchlist.
#SGXNIFTY
#PreMarket
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Fast Profits Daily - Tata Motors Can be the ITC of the Auto Index
What do the charts say about Tata Motors? Find out in this video...
http://www.eqtm.in/Gg94S
What do the charts say about Tata Motors? Find out in this video...
http://www.eqtm.in/Gg94S
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Global markets trade on a flat note; SGX Nifty indicates the positive opening of 40pts at 18,400.
The recovery in the second half on D-Street ends the day near high and the positive opening may accelerate the bullish momentum above 18,350 on Nifty.
As per derivative structure, the weekly expiry is likely to be in the range of 18,267-18,490.
BankNifty may face the hurdle at 43,500-43,600; expect a short covering rally above the hurdle zone towards 44,000.
Tata Motors has broken out of technical pattern and outperforming the Auto index.
Can TataMotors be the ITC of Auto sector?
Watch my video here
#SGXNifty
#PreMarket
The recovery in the second half on D-Street ends the day near high and the positive opening may accelerate the bullish momentum above 18,350 on Nifty.
As per derivative structure, the weekly expiry is likely to be in the range of 18,267-18,490.
BankNifty may face the hurdle at 43,500-43,600; expect a short covering rally above the hurdle zone towards 44,000.
Tata Motors has broken out of technical pattern and outperforming the Auto index.
Can TataMotors be the ITC of Auto sector?
Watch my video here
#SGXNifty
#PreMarket
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BankNifty – Is this the SWING TOP?
The bulls cheered the opening in the BankNifty as it hits the high of 43,774 but the party was short-lived, and the index fell to a low of 43,367.
The Candlestick Patterns
On 4th May 2023, we witnessed the tweezers-top bearish reversal candlestick reversal pattern at the high of 43,739 on the intraday chart of 30mins.
With the gap-up opening and losing momentum in the first 30mins of the day, the bearish belt-hold candlestick pattern is visible around the similar highs signalling the pause to the bullish momentum.
The break of 43,350 will confirm the bearish reversal as per the belt-hold candlestick pattern.
Momentum Indicator turns BEARISH
Stochastic, the momentum oscillator signals a negative crossover with the bearish candlestick patterns indicating the reversal on cards.
The Confirmation
The break of 43,800-43,350 will confirm the further momentum for bulls and bears.
#BankNifty (CMP-43,550)
#KeepItSimple
The bulls cheered the opening in the BankNifty as it hits the high of 43,774 but the party was short-lived, and the index fell to a low of 43,367.
The Candlestick Patterns
On 4th May 2023, we witnessed the tweezers-top bearish reversal candlestick reversal pattern at the high of 43,739 on the intraday chart of 30mins.
With the gap-up opening and losing momentum in the first 30mins of the day, the bearish belt-hold candlestick pattern is visible around the similar highs signalling the pause to the bullish momentum.
The break of 43,350 will confirm the bearish reversal as per the belt-hold candlestick pattern.
Momentum Indicator turns BEARISH
Stochastic, the momentum oscillator signals a negative crossover with the bearish candlestick patterns indicating the reversal on cards.
The Confirmation
The break of 43,800-43,350 will confirm the further momentum for bulls and bears.
#BankNifty (CMP-43,550)
#KeepItSimple
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Dow Jones reverse from the resistance zone and slips to 33,200 levels; ends at 33,309 losing 0.66%. Chart here
Asian markets indices HangSeng and Nikkei trades in green while SGXNifty indicates the negative opening of 66pts for Indian markets.
BankNifty forms bearish candlestick pattern around previous high indicating 43,600-43,800 as resistance zone while 43,300 will be the confirmation level for reversal. Chart here
The dip in auto stocks can be an opportunity for long traders.
#SGXNifty
#PreMarket
Asian markets indices HangSeng and Nikkei trades in green while SGXNifty indicates the negative opening of 66pts for Indian markets.
BankNifty forms bearish candlestick pattern around previous high indicating 43,600-43,800 as resistance zone while 43,300 will be the confirmation level for reversal. Chart here
The dip in auto stocks can be an opportunity for long traders.
#SGXNifty
#PreMarket
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Dow Jones closed down over a percent for straight second week as it reverses from the resistance zone; the zone of 32834-33,000 will be the key support this week. The break of support zone may accelerate bearish momentum and trigger global sell-off.
Nifty formed the bullish weekly candle but hovered in the range of 1% for last four days; 18,056 will mark a reversal the bullish momentum.
BankNifty is bullish on charts as it breaks the resistance zone of 43,800; the 44,500 may be on cards this week.
The win for Congress in Karnataka may have knee jerk reaction on D-street; the large body bearish candlestick can lead to dumpling top pattern on Nifty. The bulls can be in the game above 18,400.
SGXNifty is indicating a negative opening of 40pts at ~18,280.
#SGXNifty
#PreMarket
Nifty formed the bullish weekly candle but hovered in the range of 1% for last four days; 18,056 will mark a reversal the bullish momentum.
BankNifty is bullish on charts as it breaks the resistance zone of 43,800; the 44,500 may be on cards this week.
The win for Congress in Karnataka may have knee jerk reaction on D-street; the large body bearish candlestick can lead to dumpling top pattern on Nifty. The bulls can be in the game above 18,400.
SGXNifty is indicating a negative opening of 40pts at ~18,280.
#SGXNifty
#PreMarket
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BankNifty Futures - Bearish Harmonic Pattern 📉
On the hourly chart of Bank Nifty Futures, the bearish butterfly harmonic pattern is completed at 44,050 and the index closed below the reversal level.
Make-or-Break
The move below 43,900 may accelerate the bearish momentum towards 43,500-43,600 while 44,222 will negate the pattern.
#BankNifty
#KeepItSimple
On the hourly chart of Bank Nifty Futures, the bearish butterfly harmonic pattern is completed at 44,050 and the index closed below the reversal level.
Make-or-Break
The move below 43,900 may accelerate the bearish momentum towards 43,500-43,600 while 44,222 will negate the pattern.
#BankNifty
#KeepItSimple
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