Fast Profits Daily - Public Sector Stocks: The Next Big Thing in the Stock Market?

Public sector stocks are on fire in the stock market. But what do the charts say?

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On the weekly chart of Dow Jones, multiple bullish head and shoulders patterns are evident at 200WEMA, with a neckline breakout at 34,400-35,000 level.
The breakout zone if retested can potentially act as an accumulation zone this week.

On the Nifty index, several bullish patterns are evident.
On the daily chart, the index paused at the rising channel pattern and has formed a bullish bat harmonic pattern near 34DEMA.
On the hourly chart, there is a potential inverted head and shoulders pattern with the neckline positioned at 19,555, signalling a likely bullish reversal towards levels above 19,700.

What can take the Nifty higher?

With 13% weights in Nifty50, IT index has retested the breakout level of the Wyckoff theory accumulation zone, indicating a medium-term bullish trend.
While the BankNifty is currently lagging, with a topping formation of the Dumpling top candlestick pattern, and faces a significant hurdle in the 45,300-45,500 zone.

#GiftNifty
#PreMarket

Nifty - Bullish Head and Shoulders Pattern

The Nifty index broke the neckline of the bullish head and shoulders pattern at 19,535 and retested offering an opportunity for longs,.

The pattern is valid as long as the index does not close below 19,440.

(CMP-19,550)

Dow Jones surges over a percent, finding strong support at the critical level of 35,000; Nasdaq gains 0.6%.

Nifty finds crucial support at the psychological level of 19,500 and reverses its direction upwards. The short-term chart reveals a bullish inverted head and shoulders pattern, indicating bullish momentum takeover. The index is expected to target levels around 19,700-19,750, with the negation level for the pattern at 19,440.

Bank Nifty is facing resistance in its attempt to move higher above 45,000; a break above 45,115 could initiate a short covering rally. Until then, the bears maintain control in the market.

Nifty IT index is experiencing a bullish surge, primarily driven by heavyweights like TCS and Infosys. The IT stocks are poised to potentially lead the next leg of bullish momentum for the Nifty.

#GiftNifty
#PreMarket

Fast Profits Daily - Next Multibagger Stock in the Paints Sector

What's the outlook for paint stocks? Find out...

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The US market tumbled as Moody's downgraded the ratings of midsized banks, leading to a 1.58% slip in the Dow Jones Bank Index and a 0.54% slip in the Dow Jones Industrial Average.

The bulls were back on D-street in the second half of the day as Nifty rallied from 19,500 to 19,645. A minor obstacle lies at 19,678, beyond which the bullish momentum could accelerate towards 19,800.
On the weekly expiry, the index is likely to trend in the range of 19,500-19,800.

BankNifty experienced a bullish surge, reaching 44,900. The presence of the 50HEMA and the significant psychological level at 45,000 could pose minor resistance. If an hourly closing price surpasses 45,045, it might instigate a short covering rally potentially driving the index towards 45,300.

Gift Nifty indicates a downward gap of 90 points at an opening of 19,600.

#GiftNifty
#PreMarket

Ignore Large Caps and Invest in Midcaps in 2023 📈

Your efforts in analysis, content creation, and YouTube publishing truly bear fruit when your followers derive value from them.

Thank you Ranganathanji for sharing the performance update of the Smallcap and Midcap video. https://twitter.com/rdchari/status/1689163824346390528?s=20

Your kind words are greatly appreciated 🙏🏻

Lupin: The Next Big Breakout?

Lupin share price is rising. Let’s take a close look at the company’s stock price from a technical perspective.

http://www.eqtm.in/Tk8s9

The US market index DJIA is currently hovering above the neckline of a bullish head and shoulders pattern; a potential dip to the range of 34,700-34,500 presents an opportunity for long positions.

Nifty is likely to remain within the gap range of 19,400 to 19,735, with the potential for momentum to pick up upon a breakout in either direction. The strangle shorts derivative strategy could be considered while the index trends within this range.

Nifty IT is encountering resistance at the upper boundary of the gap at 30,960. A breach of the 31,000 level has the potential to initiate a new breakout, favouring bullish sentiment.

USDINR is at the brink of a breakout from a 42-week symmetrical triangle pattern. A decisive breach of the 83 levels will serve as confirmation for the continuation of a bullish trend for the US Dollar against the Indian Rupee.

#GiftNifty
#PreMarket

Nifty Enters Demand Zone 📈💪🏻

Nifty enters the demand zone on the hourly chart. The risk-reward dynamics have set the stage for the bulls to seize control.

Here's why you should be paying attention:

1. Demand Zone of 234HEMA:
The High and Low of 234HEMA marks a critical demand zone.

2. 61.80% Fibonacci Retracements:
Technical enthusiasts, take note!
The 61.80% Fibonacci retracement level intersects with the demand zone.

3. Tales of Gap:
The intriguing interplay of gaps, both as support and resistance, adds another layer to this captivating scenario.

Bullish Opportunity:
The hourly chart signals a bullish opportunity in the range of 19,400-19,440. The patterns are falling into place, suggesting potential upward momentum.

Risk:
On a cautionary note, the pattern could potentially fail below the support of 19,275.

As the Nifty dances within the demand zone and technical factors align, traders should grab an exciting opportunity for potential gains.

#Nifty (CMP-19,440)
#KeepItSimple

India's Next Small Cap Wave

Online meeting invite: On 21 August, 5 PM, we’re going to discuss a rare, but powerful new small cap trend unfolding in India. The last time this trend played out it was 2003, and the small cap index surged by 16X in just 5 years time.

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Dow Jones has now entered the retest zone of multiple inverted head and shoulders patterns; the range of 34,300-34,600 could be referred to as a demand zone. The pattern negates below 33,500.

On Nifty, the series of lower highs and lower lows indicates a potential test of the 19,000 level; the bullish scenario may come into play if the price rises above 19,516. The weekly OI structure suggests a range between 19,178 and 19,435.

The presence of a bearish head and shoulders pattern on the Bank Nifty indicates a prevailing advantage for the bears. The rise towards 44,000-44,300 levels might offer a chance for short positions. The index has consistently traded below the 50DEMA after April 2023, reinforcing the current short-term bearish momentum.

#GiftNifty
#PreMarket

Why HDFC Bank Stock Could Be a Sell

The resistance at Rs 1,700 indicates a strong barrier that the stock has struggled to surpass.

http://www.eqtm.in/q4NKg

India's Next Small Cap Wave

Hi everyone. Over the past few years my colleague, Richa Agarwal, has been tracking a powerful economic trend which is unfolding in India.

In 5 minutes, she is starting an online meeting to discuss this trend, along with her strategy on how to capitalize on it through small cap stocks.

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Dow Jones index is currently hovering around the support zone of necklines, corresponding to the retest levels of multiple inverted head and shoulders patterns. This range of 34,200-34,500 is expected to serve as a demand zone, but the pattern's validity would be compromised if it falls below 33,500.
While Nasdaq gains 1.56% led by Meta, it's possible that the Nifty IT index could emerge as the leader for the day given the current market trends.

The appearance of a morning star candlestick pattern on Nifty, near the support of a gap, suggests a potential pause in the retracement and a subsequent continuation of bullish momentum.

On BankNifty, the breakdown from head and shoulders pattern suggests that bears are currently in control. Traders might consider the range of 44,300-44,635 as a potential opportunity to initiate short positions.

Power and Metals sector is likely to be in focus this week.

#GiftNifty
#PreMarket

Dow Jones is trading within a range and has found support at 34,200, while European indices such as DAX, CAC40, and FTSE100 are attempting to regain lost ground by finding support within a descending triangle pattern.

Based on technical studies, it's anticipated that the Nifty may trade within the range of 19,200 to 19,700 this week.

The presence of a head and shoulders pattern on the daily chart of BankNifty suggests a potential short opportunity on rallies within the range of 44,000 to 44,300.

Auto stocks, particularly those in the auto ancillary sector, are displaying indications of being attractive for bargain buying.

Gift Nifty signals a potential negative opening of 35 points, 19,267-19,300 likely to serve as intraday support.

#GiftNifty
#PreMarket