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
❤5👍5
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
👍27❤2👎1
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
👍28❤4👎1
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
👍24❤4👎1🔥1
Forwarded from Equitymaster
Titan Share Price is Rising in Perfect Harmony with Gold Prices. What Next?
The repetition of historical patterns and the correlation with bullish gold prices indicate the potential for further upside in Titan.
Momentum in this Tata Group Stock
Here’s an extract…
Share price of Titan has witnessed a steep rise in the recent months as it broke out from its resistance zone.
The repetition of historical patterns and the correlation with bullish gold prices indicate the potential for further upside in the stock.
But there’s one thing to take note of. Continue reading to know more…
http://www.eqtm.in/f3AGc
The repetition of historical patterns and the correlation with bullish gold prices indicate the potential for further upside in Titan.
Momentum in this Tata Group Stock
Here’s an extract…
Share price of Titan has witnessed a steep rise in the recent months as it broke out from its resistance zone.
The repetition of historical patterns and the correlation with bullish gold prices indicate the potential for further upside in the stock.
But there’s one thing to take note of. Continue reading to know more…
http://www.eqtm.in/f3AGc
👍5❤1👏1
Forwarded from Equitymaster
Mazagon Dock Share Price Zooms 10% to Hit Record High. Technical Charts Suggest…
While the breakout in Mazagon Dock and the bullish trend in shipbuilding stocks seem promising, it’s essential to consider the associated risks as well.
Mazagon Dock Share Price Skyrockets!
Here’s an extract…
Mazagon Dock share price zoomed 10% to scale fresh peak today. The breakout, accompanied by higher volumes, indicates strength.
Additionally, the Market Cap Weighted Ship Building Stocks Index (MCWSBSI) suggests a potential bullish trend in shipbuilding stocks.
However, it’s crucial to consider the risks associated with the breakout setup, including market volatility, sector-specific risks and market sentiment.
Continue reading…
http://www.eqtm.in/i5K7M
While the breakout in Mazagon Dock and the bullish trend in shipbuilding stocks seem promising, it’s essential to consider the associated risks as well.
Mazagon Dock Share Price Skyrockets!
Here’s an extract…
Mazagon Dock share price zoomed 10% to scale fresh peak today. The breakout, accompanied by higher volumes, indicates strength.
Additionally, the Market Cap Weighted Ship Building Stocks Index (MCWSBSI) suggests a potential bullish trend in shipbuilding stocks.
However, it’s crucial to consider the risks associated with the breakout setup, including market volatility, sector-specific risks and market sentiment.
Continue reading…
http://www.eqtm.in/i5K7M
❤3👍3
Fast Profits Daily - Why the Metal Index May Outperform Nifty 500
A lot of technical indicators point towards a comeback rally in metal stocks. Watch this video till the end to find out which companies to track now...
http://www.eqtm.in/Rq62Q
A lot of technical indicators point towards a comeback rally in metal stocks. Watch this video till the end to find out which companies to track now...
http://www.eqtm.in/Rq62Q
👍5
Global markets kick off the week on a positive note, indicating a promising outlook for Indian markets, despite Japan's Nikkei trading down by a percent, which may potentially limit a positive movement in the Asian region.
Nifty starts the day with a gap up, driven by Reliance Industries for the second consecutive day, while BankNifty closes in the red.
On Nifty, the weekly writers of the 19500CE options are defending the levels, indicating their intention to protect that price point. However, if the index manages to surpass the 19,558 mark, it could trigger a short covering rally.
The electrical equipments and domestic appliances sector, including companies like Polycab, V-Guard, Crompton, and KEI, is worth monitoring for potential momentum trading opportunities.
#PreMarket
#GiftNifty
Nifty starts the day with a gap up, driven by Reliance Industries for the second consecutive day, while BankNifty closes in the red.
On Nifty, the weekly writers of the 19500CE options are defending the levels, indicating their intention to protect that price point. However, if the index manages to surpass the 19,558 mark, it could trigger a short covering rally.
The electrical equipments and domestic appliances sector, including companies like Polycab, V-Guard, Crompton, and KEI, is worth monitoring for potential momentum trading opportunities.
#PreMarket
#GiftNifty
👍26❤6👎1
Dow Jones opened with a gap and rallied over 300pts, breaking out of a bullish pennant pattern. It closed marginally higherwith a gain of 86pts. Despite failing to surpass the previous high of 34,598, the pennant pattern has not yet failed, as its failure level is set at 33,777.
The last hour of selling in Nifty yesterday established 19,500 as a significant hurdle for today's expiry, with a confident fight to protect this level by 19,500CE writers. The index is expected to find support around 19,279, and the anticipated range for today's expiry is likely to be in the range of 19,280-19,530.
BankNifty is approaching the retest of a breakout level of 44,400-44,500 on the charts. Additionally, the 44,500PE options for today's expiry show the highest OI in puts to the tune of 1.12L contracts suggesting strong support levels for the bulls.
It's अलविदा to the HDFC Ltd's remarkable 45 years of trading on D-Street. It closed at Rs.2,724 on NSE and will be mergered into HDFC Bank from today.
#GiftNifty
#PreMarket
The last hour of selling in Nifty yesterday established 19,500 as a significant hurdle for today's expiry, with a confident fight to protect this level by 19,500CE writers. The index is expected to find support around 19,279, and the anticipated range for today's expiry is likely to be in the range of 19,280-19,530.
BankNifty is approaching the retest of a breakout level of 44,400-44,500 on the charts. Additionally, the 44,500PE options for today's expiry show the highest OI in puts to the tune of 1.12L contracts suggesting strong support levels for the bulls.
It's अलविदा to the HDFC Ltd's remarkable 45 years of trading on D-Street. It closed at Rs.2,724 on NSE and will be mergered into HDFC Bank from today.
#GiftNifty
#PreMarket
👍19❤5👎2👏1
Dollar Index Hits 52-Week Low – What’s Next?
The Dollar Index (DXY), which measures the value of the U.S. dollar against a basket of major currencies, has experienced a sharp decline to 52-week low.
The breakdown from a triangle pattern (black) on the chart suggests that the index could potentially test the 96-97 levels, finding support within a rising channel (red).
The breakdown occurs at the 161-day mark, it may have a significant impact as per the Fibonacci Time cycle theory.
#DollarIndex
#KeepItSimple
The Dollar Index (DXY), which measures the value of the U.S. dollar against a basket of major currencies, has experienced a sharp decline to 52-week low.
The breakdown from a triangle pattern (black) on the chart suggests that the index could potentially test the 96-97 levels, finding support within a rising channel (red).
The breakdown occurs at the 161-day mark, it may have a significant impact as per the Fibonacci Time cycle theory.
#DollarIndex
#KeepItSimple
👍28❤6👎1
The S&P 500 index has surged past 4,500, while the Nasdaq index has surpassed 15,600, with both hitting their respective 52-week highs.
The momentum of the Nifty IT index, which was one of the outperforming sectoral indices yesterday, could potentially receive a boost from the gains seen in the Nasdaq.
The presence of the Wyckoff theory of accumulation, evident in both the Nasdaq and Nifty IT index, serves as confirmation for the initiation of a new trend for the Indian IT giants.
Despite hitting a 52-week high, the Nifty closed below 19,500 during the weekly expiry. The index has a support level at 19,278, and with the current bullish momentum, there is a possibility of a prolonged move towards the all-time high.
A gap up opening in Bank Nifty, but the bulls failed to capitalize on the positive momentum, leading to a close near the day's low. The index's major support is now positioned at the range of 44,400-44,500.
Gift Nifty is indicating a positive opening near 19,550.
#GiftyNifty
#PreMarket
The momentum of the Nifty IT index, which was one of the outperforming sectoral indices yesterday, could potentially receive a boost from the gains seen in the Nasdaq.
The presence of the Wyckoff theory of accumulation, evident in both the Nasdaq and Nifty IT index, serves as confirmation for the initiation of a new trend for the Indian IT giants.
Despite hitting a 52-week high, the Nifty closed below 19,500 during the weekly expiry. The index has a support level at 19,278, and with the current bullish momentum, there is a possibility of a prolonged move towards the all-time high.
A gap up opening in Bank Nifty, but the bulls failed to capitalize on the positive momentum, leading to a close near the day's low. The index's major support is now positioned at the range of 44,400-44,500.
Gift Nifty is indicating a positive opening near 19,550.
#GiftyNifty
#PreMarket
👍33❤6👎1
Is the Indian IT Sector a Sleeping Giant?
The Nasdaq Composite index reached a new 52-week high yesterday. The Nifty IT index also gained some bullish momentum following the release of Q1 results of headlines companies like TCS and HCL Technologies.
In this piece, we aim to examine the technical structure of the Nifty IT index and its underperformance over the Nasdaq.
Technically, the accumulation phase of the Wyckoff theory is evident in both the Nasdaq and Nifty IT index.
https://www.equitymaster.com/detail.asp?date=07/14/2023&story=1&title=Is-the-Indian-IT-Sector-a-Sleeping-Giant&utm_source=homepage&utm_medium=website&utm_campaign=top-articles&utm_content=link
The Nasdaq Composite index reached a new 52-week high yesterday. The Nifty IT index also gained some bullish momentum following the release of Q1 results of headlines companies like TCS and HCL Technologies.
In this piece, we aim to examine the technical structure of the Nifty IT index and its underperformance over the Nasdaq.
Technically, the accumulation phase of the Wyckoff theory is evident in both the Nasdaq and Nifty IT index.
https://www.equitymaster.com/detail.asp?date=07/14/2023&story=1&title=Is-the-Indian-IT-Sector-a-Sleeping-Giant&utm_source=homepage&utm_medium=website&utm_campaign=top-articles&utm_content=link
Equitymaster
Is the Indian IT Sector a Sleeping Giant?
Unlike the Nasdaq, which is at 52-week high, the Nifty IT index has not broken through the resistance zone. What does it mean for Indian IT companies?
👍16❤6