Today is poised to be a monumental day for the Nifty index sets its sights on reaching an all-time high (ATH) as the last hour bullish momentum yesterday signals short covering rally.
The US markets have displayed a strong recovery, with the SPX bouncing back after successfully retesting the breakout level at 4,330.
Nifty has shown a notable reversal, defying the bearish pattern by bouncing back from the support level of 18,650. The short covering observed in 18800CE suggests that bulls have the potential to propel the index towards the 19,000 mark.
BankNifty experienced a short covering rally, culminating in a close above the 44,000 level, with the merger announcement date of HDFC Bank acting as a catalyst for the surge in banking stocks. As the rally continues, the 44,500 mark is anticipated to serve as a resistance zone for bullish momentum.
#PreMarket
#SGXNifty
The US markets have displayed a strong recovery, with the SPX bouncing back after successfully retesting the breakout level at 4,330.
Nifty has shown a notable reversal, defying the bearish pattern by bouncing back from the support level of 18,650. The short covering observed in 18800CE suggests that bulls have the potential to propel the index towards the 19,000 mark.
BankNifty experienced a short covering rally, culminating in a close above the 44,000 level, with the merger announcement date of HDFC Bank acting as a catalyst for the surge in banking stocks. As the rally continues, the 44,500 mark is anticipated to serve as a resistance zone for bullish momentum.
#PreMarket
#SGXNifty
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Nifty Breaks Out of Broadening Triangle Pattern 📈
Its ATH and the Nifty have just broken out of a broadening triangle pattern on the 2-hour chart, signalling a potential bullish move ahead.
This breakout suggests a shift in market sentiment and the potential for further upward momentum in the index.
Traders should seize this opportunity to assess their trading strategies and capitalize on potential upside gains. However, it's important to exercise caution and implement risk management techniques such as stop-loss orders to protect against unforeseen market fluctuations.
#Nifty
#KeepItSimple
Its ATH and the Nifty have just broken out of a broadening triangle pattern on the 2-hour chart, signalling a potential bullish move ahead.
This breakout suggests a shift in market sentiment and the potential for further upward momentum in the index.
Traders should seize this opportunity to assess their trading strategies and capitalize on potential upside gains. However, it's important to exercise caution and implement risk management techniques such as stop-loss orders to protect against unforeseen market fluctuations.
#Nifty
#KeepItSimple
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Forwarded from Equitymaster
US 10 Year Bond Yield End 40-Year Bearish Cycle. Here’s How it Could Impact Your Investments…
This metric is closely monitored by investors as it’s a key benchmark to assess market sentiment.
End of the US 10-Year Bond Yield Bear Market
Here’s an extract…
The US 10-year bond yield, which represents the interest rate on 10-year US government bonds, has been displaying stability in recent times.
The US 10-year bond yield has put an end to its 40-year bearish trend of lower highs and lower lows.
The development caught the attention of investors worldwide.
It marks a notable departure from the historical norm and prompts a revaluation of investment strategies and risk assessments.
http://www.eqtm.in/Yx7n8
This metric is closely monitored by investors as it’s a key benchmark to assess market sentiment.
End of the US 10-Year Bond Yield Bear Market
Here’s an extract…
The US 10-year bond yield, which represents the interest rate on 10-year US government bonds, has been displaying stability in recent times.
The US 10-year bond yield has put an end to its 40-year bearish trend of lower highs and lower lows.
The development caught the attention of investors worldwide.
It marks a notable departure from the historical norm and prompts a revaluation of investment strategies and risk assessments.
http://www.eqtm.in/Yx7n8
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As we approach the end of the first half of 2023, it has been a volatile period; however, the Indian benchmark indices, Nifty and Sensex may end on a positive note with gains of ~5%.
The 2H2022 concluded with remarkable gains of around 15%. The primary trend remains bullish, with significant support levels observed at 57,000 for Sensex and 16,700 for Nifty.
The short covering rally on the expiry day propelled Nifty beyond the 19,000 mark. Sustained movement above 19,000 in the initial 30 minutes of the day is expected to further accelerate the follow-up momentum, potentially driving the index towards the 19,134 levels.
BankNifty is currently facing resistance at the 44,500 level, posing a challenge for the bulls who aim to sustain the ongoing rally. Breaking through this resistance zone becomes crucial for them. An unsustainable move above 44,500 and a weekly close below 44,189 would favor the bears, potentially granting them an advantage in the reversal.
#SGXNifty is trading with +130pts.
#PreMarket
The 2H2022 concluded with remarkable gains of around 15%. The primary trend remains bullish, with significant support levels observed at 57,000 for Sensex and 16,700 for Nifty.
The short covering rally on the expiry day propelled Nifty beyond the 19,000 mark. Sustained movement above 19,000 in the initial 30 minutes of the day is expected to further accelerate the follow-up momentum, potentially driving the index towards the 19,134 levels.
BankNifty is currently facing resistance at the 44,500 level, posing a challenge for the bulls who aim to sustain the ongoing rally. Breaking through this resistance zone becomes crucial for them. An unsustainable move above 44,500 and a weekly close below 44,189 would favor the bears, potentially granting them an advantage in the reversal.
#SGXNifty is trading with +130pts.
#PreMarket
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It's bullish in every nook and cranny of the world for equity traders on Friday as most of the benchmark indices closed up by a percent.
Nifty soared 3.53% in June, reaching an all-time high, marking the third consecutive month of bullish candles on the monthly chart. My video on Nifty reversal will fail if the close is above 19243 (spot).
BankNifty has made a strong comeback as it surpassed the resistance zone of 43500-44500, with HDFC Bank and IndusInd Bank leading the way.
The movement of HDFC Bank today will have a significant impact on the movements of both Nifty and BankNifty. Traders are advised to wait for the first 15-30 minutes for HDFC Bank prices to settle before making any trading decisions.
Gift Nifty indicates a positive opening with a gain of 75 points.
#PreMarket
#GiftNifty
Nifty soared 3.53% in June, reaching an all-time high, marking the third consecutive month of bullish candles on the monthly chart. My video on Nifty reversal will fail if the close is above 19243 (spot).
BankNifty has made a strong comeback as it surpassed the resistance zone of 43500-44500, with HDFC Bank and IndusInd Bank leading the way.
The movement of HDFC Bank today will have a significant impact on the movements of both Nifty and BankNifty. Traders are advised to wait for the first 15-30 minutes for HDFC Bank prices to settle before making any trading decisions.
Gift Nifty indicates a positive opening with a gain of 75 points.
#PreMarket
#GiftNifty
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Forwarded from Equitymaster
This Auto Ancillary Stock is Up 70% in One Month. More Gains Ahead?
Shares of JBM Auto touched their 52 week high today. Here’s what is driving the company’s share price.
Rising Auto Ancillary Stock
Here’s an extract…
Over the last one month, shares of this auto ancillary company have risen more than 70%. This on the back of its bright prospects in the EV space.
The stock is also a multibagger having jumped over 240x since listing.
Read on to know more…
http://www.eqtm.in/Hx2z3
Shares of JBM Auto touched their 52 week high today. Here’s what is driving the company’s share price.
Rising Auto Ancillary Stock
Here’s an extract…
Over the last one month, shares of this auto ancillary company have risen more than 70%. This on the back of its bright prospects in the EV space.
The stock is also a multibagger having jumped over 240x since listing.
Read on to know more…
http://www.eqtm.in/Hx2z3
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The Indian benchmark index Nifty has recorded six consecutive days of gains, surging from 18,700 to 19,400.
The bullish rangeshift observed on the RSI (Relative Strength Indicator) suggests that there is more potential for upside in the index.
BankNifty witnessed a rally in sync with Nifty, but the formation of a long-legged doji during the last hour of trading indicates reversal on the break of yesterday's low.
The presence of a bearish engulfing pattern on the Nifty Midcap Index, coupled with negative divergence, suggests a cooling-off phase towards the super trend support area within the range of 34,900-35,000.
Gift Nifty is signaling a positive opening of 50 points, with an expected start above 19,500.
#PreMarket
#GiftNifty
The bullish rangeshift observed on the RSI (Relative Strength Indicator) suggests that there is more potential for upside in the index.
BankNifty witnessed a rally in sync with Nifty, but the formation of a long-legged doji during the last hour of trading indicates reversal on the break of yesterday's low.
The presence of a bearish engulfing pattern on the Nifty Midcap Index, coupled with negative divergence, suggests a cooling-off phase towards the super trend support area within the range of 34,900-35,000.
Gift Nifty is signaling a positive opening of 50 points, with an expected start above 19,500.
#PreMarket
#GiftNifty
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Forwarded from Equitymaster
Is PNB Share Price Breaking Out?
The breakout from the resistance zone suggests that PNB may be poised for an upward trend.
Momentum in the PNB Stock
Here’s an extract…
Share price of PNB (Punjab National Bank) has witnessed a remarkable gain of over 10% in the current week so far as it broke out from its resistance zone.
The significant surge in the stock price indicates a potential shift in the market sentiment towards PNB as the banking stocks are witnessing a rally with
Bank Nifty trading at an all-time high.
This has attracted the attention of investors and traders alike…
http://www.eqtm.in/Xf7b8
The breakout from the resistance zone suggests that PNB may be poised for an upward trend.
Momentum in the PNB Stock
Here’s an extract…
Share price of PNB (Punjab National Bank) has witnessed a remarkable gain of over 10% in the current week so far as it broke out from its resistance zone.
The significant surge in the stock price indicates a potential shift in the market sentiment towards PNB as the banking stocks are witnessing a rally with
Bank Nifty trading at an all-time high.
This has attracted the attention of investors and traders alike…
http://www.eqtm.in/Xf7b8
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The US markets concluded on a negative tone, as the Dow Jones experienced a 0.38% decline, while the SPX saw a decrease of 0.2%. Looking ahead, the significant support level within the range of 33,800-34,289 is expected to serve as a crucial support zone for the Dow Jones.
Nifty concluded the trading session with a marginal positive gain of 9 points at 19,398. The presence of small-bodied candlesticks for consecutive days suggests a temporary pause in momentum, while the formation of an Inside bar pattern indicates market indecision. Despite these observations, the overall trend remains bullish on the charts.
Bank Nifty exhibited a Doji candlestick pattern followed by a long-shadowed candle, indicating potential signs of bullish exhaustion. If index closes below 44,777, it would confirm a short-term reversal in the market.
In the weekly expiry today, Nifty may trend within the range of 19,281-19,437, while Bank Nifty may test support of 44,960, with resistance positioned at 44,328.
#PreMarket
#GiftNifty
Nifty concluded the trading session with a marginal positive gain of 9 points at 19,398. The presence of small-bodied candlesticks for consecutive days suggests a temporary pause in momentum, while the formation of an Inside bar pattern indicates market indecision. Despite these observations, the overall trend remains bullish on the charts.
Bank Nifty exhibited a Doji candlestick pattern followed by a long-shadowed candle, indicating potential signs of bullish exhaustion. If index closes below 44,777, it would confirm a short-term reversal in the market.
In the weekly expiry today, Nifty may trend within the range of 19,281-19,437, while Bank Nifty may test support of 44,960, with resistance positioned at 44,328.
#PreMarket
#GiftNifty
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Fast Profits Daily - Are PSU Bank Stocks Worth Investing in Now?
What do the charts say about PSU banking stocks? Find out...
http://www.eqtm.in/y3TMj
What do the charts say about PSU banking stocks? Find out...
http://www.eqtm.in/y3TMj
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Indian markets closed in the green on the weekly expiry day, with the Nifty ending at 19,497, registering a gain of 99 points.
The US markets closed with a 1% loss, while European markets ended in the red with a significant decline of 2-3%, which triggered a negative start for Asian markets on the following day.
After forming an Insider bar, Nifty has resumed its bullish momentum, indicating that the bulls are in control of the trend. The support level is located at 19,357, and any dip can be seen as an opportunity for the bulls to enter the market.
BankNifty is currently unable to surpass the high and low levels of the Long-legged doji pattern, which suggests an indecisive market. Confirmation of either an upward or downward trend will occur upon a breakout from the range of 45,000-45,700.
The Realty Index has resumed its bullish momentum, signaling that traders should focus on Realty stocks in the next few trading sessions.
#PreMarket
#GiftNifty
The US markets closed with a 1% loss, while European markets ended in the red with a significant decline of 2-3%, which triggered a negative start for Asian markets on the following day.
After forming an Insider bar, Nifty has resumed its bullish momentum, indicating that the bulls are in control of the trend. The support level is located at 19,357, and any dip can be seen as an opportunity for the bulls to enter the market.
BankNifty is currently unable to surpass the high and low levels of the Long-legged doji pattern, which suggests an indecisive market. Confirmation of either an upward or downward trend will occur upon a breakout from the range of 45,000-45,700.
The Realty Index has resumed its bullish momentum, signaling that traders should focus on Realty stocks in the next few trading sessions.
#PreMarket
#GiftNifty
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The last week witnessed a mixed performance in global equities, with Indian benchmark indices displaying strength as it hits an ATH closing 0.9% higher, while the Dow Jones ended down by 2% and the DAX by 3.37%.
The weekly chart of Dow Jones and DAX presents a less promising outlook for bulls, as Dow Jones failed to break out while DAX experienced a breakdown in its trading range, suggesting that bears currently hold the advantage.
Today's performance of Nifty and Sensex is expected to be significantly influenced by Reliance Industries due to the news of its demerger. Reliance Industries weights 10% in Nifty50.
Last week, BankNifty hit an ATH by breaking through a critical resistance level at 44,500, turns to a support level this week.
The gravestone doji on the weekly chart signals caution for the bulls. The unsustainability above 44,500 level this week may pose a risk for the bullish sentiment.
Gift Nifty indicates a positive opening of 45 points above 19,440.
#GiftNifty
#PreMarket
The weekly chart of Dow Jones and DAX presents a less promising outlook for bulls, as Dow Jones failed to break out while DAX experienced a breakdown in its trading range, suggesting that bears currently hold the advantage.
Today's performance of Nifty and Sensex is expected to be significantly influenced by Reliance Industries due to the news of its demerger. Reliance Industries weights 10% in Nifty50.
Last week, BankNifty hit an ATH by breaking through a critical resistance level at 44,500, turns to a support level this week.
The gravestone doji on the weekly chart signals caution for the bulls. The unsustainability above 44,500 level this week may pose a risk for the bullish sentiment.
Gift Nifty indicates a positive opening of 45 points above 19,440.
#GiftNifty
#PreMarket
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The US and European markets kicked off the week on a positive note as they opened in the green.
The Dow Jones exhibited a belt hold bullish reversal candlestick pattern, suggesting a resmption of the bullish trend following retracements.
Nifty managed to close marginally in the green, primarily driven by the movement of Reliance Industries. However, the overall market breadth leaned towards bears, indicating a cautious sentiment. It is important to monitor the market breadth over the next few days to ascertain any signs of exhaustion in trends for certain large-cap stocks.
In the July series, the range of 18,971-19,139 is expected to serve as a significant support zone for Nifty.
BankNifty concluded in negative territory, breaching the swing range, but the resistance zone of 44,400-44,550 is expected to transition into a support zone going forward.
Given the frequent sector rotation in the market, it is now an opportune time to include Metals stocks on the bullish watchlist.
#PreMarket
#GiftNifty
The Dow Jones exhibited a belt hold bullish reversal candlestick pattern, suggesting a resmption of the bullish trend following retracements.
Nifty managed to close marginally in the green, primarily driven by the movement of Reliance Industries. However, the overall market breadth leaned towards bears, indicating a cautious sentiment. It is important to monitor the market breadth over the next few days to ascertain any signs of exhaustion in trends for certain large-cap stocks.
In the July series, the range of 18,971-19,139 is expected to serve as a significant support zone for Nifty.
BankNifty concluded in negative territory, breaching the swing range, but the resistance zone of 44,400-44,550 is expected to transition into a support zone going forward.
Given the frequent sector rotation in the market, it is now an opportune time to include Metals stocks on the bullish watchlist.
#PreMarket
#GiftNifty
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