Nifty Metals Index - Trend is not yet rusty
Nifty Metals index was one of the best performing sectorial index in 2021 gaining 70% followed by 16% gains of first quarter in 2022.
As markets correct, metals index too turned red with the heat and fell to the 2022 lowest level of 5,290.
Technically, metals index is trading at crucial support of horizontal trendline placed at 5,200. Index has reversed from ~5,200 multiple times and head northwards.
Considering the trend in commodity prices, most of the metals are trending bullish with higher high - higher low structure.
We highlighted the prices of Copper, Nickel and Aluminium, they are trending bullish with the support of rising trendline.
As metals prices are bullish and Nifty Metals index is at support zone, the dip is an excellent buying opportunity and the trend is not yet rusty.
The trend will change for Nifty Metals index on a weekly close below 5,150.
#KeepItSimple
Nifty Metals index was one of the best performing sectorial index in 2021 gaining 70% followed by 16% gains of first quarter in 2022.
As markets correct, metals index too turned red with the heat and fell to the 2022 lowest level of 5,290.
Technically, metals index is trading at crucial support of horizontal trendline placed at 5,200. Index has reversed from ~5,200 multiple times and head northwards.
Considering the trend in commodity prices, most of the metals are trending bullish with higher high - higher low structure.
We highlighted the prices of Copper, Nickel and Aluminium, they are trending bullish with the support of rising trendline.
As metals prices are bullish and Nifty Metals index is at support zone, the dip is an excellent buying opportunity and the trend is not yet rusty.
The trend will change for Nifty Metals index on a weekly close below 5,150.
#KeepItSimple
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The D-street shines green as all the stocks in Nifty ends on positive note; ends the day at 16,259 gaining 2.63%.
Nifty forms Bullish Bat and the close above 16,000 confirms the bullish reversal. But….
Bulls need to cross 16,434 to head above the 17,000 level mark; failure can be an opportunity for bears.
Do you know – On 17th May, 2004, Nifty fell 18% on intraday but managed to close at -12.24%.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty forms Bullish Bat and the close above 16,000 confirms the bullish reversal. But….
Bulls need to cross 16,434 to head above the 17,000 level mark; failure can be an opportunity for bears.
Do you know – On 17th May, 2004, Nifty fell 18% on intraday but managed to close at -12.24%.
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍28❤7
Index trades in the range after the stellar rally yesterday; Nifty ends at 16,240 losing 0.12%.
The Fear and Greed indicator on monthly chart indicates an extreme fear level witnessed in 2008-2009 and 2020. Is Fear an opportunity to buy the dips? Watch my video today evening as I discuss about the technical setup on Nifty.
The harmonic reversal patterns bullish Bat on Nifty and bullish Cypher on Bank Nifty indicates the bulls are in control of the reversal.
RSI are in an extremely oversold zone on Nifty50 and Nifty500 suggesting the worst is over.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The Fear and Greed indicator on monthly chart indicates an extreme fear level witnessed in 2008-2009 and 2020. Is Fear an opportunity to buy the dips? Watch my video today evening as I discuss about the technical setup on Nifty.
The harmonic reversal patterns bullish Bat on Nifty and bullish Cypher on Bank Nifty indicates the bulls are in control of the reversal.
RSI are in an extremely oversold zone on Nifty50 and Nifty500 suggesting the worst is over.
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍27
Bank Nifty - The Bullish Harmonic Pattern
Bank Nifty had hit the low of 33,001 at start of the week and reversed sharply from the bullish harmonic reversal level to 34,600+.
The Bullish Cypher harmonic reversal pattern is visible on chart. Harmonic patterns are reversal in nature and indicates the probable reversal zone (PRZ) using multiple Fibonacci ratios.
Even in the gap down today, the level is holding strong in first hour of the day.
Index has taken support at 78.60% Fibonacci level of previous rise from 33,001 to 34,655 (so far the low of the day is 33,387).
Looking at the structure, we may anticipate the probable bullish or inverse head and shoulder which will be confirmed above the neckline level of 34,700.
Considering the bullish harmonic pattern and probable inverted head and shoulder pattern, the lows of 33,387 and 33,000 will be acting as strong support zone for bulls.
As part of risk, the patterns will negate on the close below 32,900.
(CMP-33,500)
#KeepItSimple
Bank Nifty had hit the low of 33,001 at start of the week and reversed sharply from the bullish harmonic reversal level to 34,600+.
The Bullish Cypher harmonic reversal pattern is visible on chart. Harmonic patterns are reversal in nature and indicates the probable reversal zone (PRZ) using multiple Fibonacci ratios.
Even in the gap down today, the level is holding strong in first hour of the day.
Index has taken support at 78.60% Fibonacci level of previous rise from 33,001 to 34,655 (so far the low of the day is 33,387).
Looking at the structure, we may anticipate the probable bullish or inverse head and shoulder which will be confirmed above the neckline level of 34,700.
Considering the bullish harmonic pattern and probable inverted head and shoulder pattern, the lows of 33,387 and 33,000 will be acting as strong support zone for bulls.
As part of risk, the patterns will negate on the close below 32,900.
(CMP-33,500)
#KeepItSimple
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Fast Profits Daily - Fear is an Opportunity on D-street
Is a bottom in place on the Nifty? Find out...
http://www.eqtm.in/d2NGr
Is a bottom in place on the Nifty? Find out...
http://www.eqtm.in/d2NGr
👍8
The pump and dump on D-street on the back of global cues ends Nifty at 15,809 losing 431 points.
Fear & Greed indicator is at extreme Fear levels on Monthly chart, should you buy the Fear? Watch the video here https://www.youtube.com/watch?v=78qSeaQ_XG8&t=16s
The bullish harmonic pattern followed by probable inverted head & shoulder indicates the bullish scenario for Bank Nifty. Read here - http://www.eqtm.in/Bk26S
The PCR for Nifty and Bank Nifty are at 0.71 and 0.67 respectively indicates an extremely oversold markets; short covering rally can be on cards.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Fear & Greed indicator is at extreme Fear levels on Monthly chart, should you buy the Fear? Watch the video here https://www.youtube.com/watch?v=78qSeaQ_XG8&t=16s
The bullish harmonic pattern followed by probable inverted head & shoulder indicates the bullish scenario for Bank Nifty. Read here - http://www.eqtm.in/Bk26S
The PCR for Nifty and Bank Nifty are at 0.71 and 0.67 respectively indicates an extremely oversold markets; short covering rally can be on cards.
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍9
Fast Profits Daily
https://youtu.be/78qSeaQ_XG8
Nifty - Hit the Bullseye
Fear is the buying opportunity as highlighted in the video, Nifty has reversed sharply forming the multiple lows at bullish reversal pattern.
As the Fear is at extreme to the levels of 2008-2009 and 2020, the dip is an excellent opportunity for investors to accumulate the best outperforming stocks.
The dip yesterday to the low of 15,775 forms the higher low on charts. The higher low can be the stepping stone for the bulls in the reversal move.
The Bullish Bat harmonic reversal pattern completed at 15,735 and the multiple lows forming in the range of 15,700-15,800 zone indicates the demand zone.
Bulls hurdle will always be the gap area marked in red on chart in the zone of 16,450-16,600.
As Nifty is trading at 16,160 (+350pts) at 10:25am, the minor hurdle for the day traders will be at 16,200-16,230.
On the larger scale, the bullish hidden divergence on weekly and daily charts are indicating the bulls can expect the positive momentum in coming weeks.
(CMP-16,160)
#KeepItSimple
Fear is the buying opportunity as highlighted in the video, Nifty has reversed sharply forming the multiple lows at bullish reversal pattern.
As the Fear is at extreme to the levels of 2008-2009 and 2020, the dip is an excellent opportunity for investors to accumulate the best outperforming stocks.
The dip yesterday to the low of 15,775 forms the higher low on charts. The higher low can be the stepping stone for the bulls in the reversal move.
The Bullish Bat harmonic reversal pattern completed at 15,735 and the multiple lows forming in the range of 15,700-15,800 zone indicates the demand zone.
Bulls hurdle will always be the gap area marked in red on chart in the zone of 16,450-16,600.
As Nifty is trading at 16,160 (+350pts) at 10:25am, the minor hurdle for the day traders will be at 16,200-16,230.
On the larger scale, the bullish hidden divergence on weekly and daily charts are indicating the bulls can expect the positive momentum in coming weeks.
(CMP-16,160)
#KeepItSimple
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The volatile week ends on positive note; Nifty ends at 16,266 gaining 3.07% while Sensex gains 2.90% to end at 54,326.
The bullish hook reversal pattern is visible on weekly chart of Nifty; the pattern will confirm above 16,405.
The multiple bullish structure on Nifty chart with extreme fear indicates the bears at an end of the rope. Watch video here https://www.youtube.com/watch?v=78qSeaQ_XG8
Bank Nifty reversed from the bullish harmonic pattern and the move above 34,700 will confirm the breakout from inverted head & shoulder. Read here https://t.me/FastProfitsReport/561
Brijesh Bhatia
Research Analyst, Fast Profit Report
The bullish hook reversal pattern is visible on weekly chart of Nifty; the pattern will confirm above 16,405.
The multiple bullish structure on Nifty chart with extreme fear indicates the bears at an end of the rope. Watch video here https://www.youtube.com/watch?v=78qSeaQ_XG8
Bank Nifty reversed from the bullish harmonic pattern and the move above 34,700 will confirm the breakout from inverted head & shoulder. Read here https://t.me/FastProfitsReport/561
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍24❤2
Nifty & Bank Nifty - Levels this Week
The week gone was volatile with gap-up and gap-down openings but bulls managed to close in green; Nifty gains 3.07% while Bank Nifty gained 3.49%.
Nifty & Bank Nifty gained 2.90% each on Friday and the US markets slides to the 63 weeks low as Dow Jones hits the low of 30,635.
SGX on Friday evening slide back below the 16,000 mark to the low of 15,949 but ended at 16,171. This morning its is trading at 16,250 at 9:00am IST.
Will the bullish momentum continue this week?
The last week high and the gap area in both the indices will be crucial this week for the bullish momentum.
The gap is placed at 16,484-16,651 in Nifty and 35,130-34,800 in Bank Nifty will act as major hurdle for bulls this week.
The bullish hidden divergence on weekly chart of Nifty and Bank Nifty indicates the short covering rally in the expiry week.
If bulls manage to cross this hurdles, the target of 17,230 and 37,000 can be on cards in June for Nifty & BankNifty respectively.
#KeepItSimple
The week gone was volatile with gap-up and gap-down openings but bulls managed to close in green; Nifty gains 3.07% while Bank Nifty gained 3.49%.
Nifty & Bank Nifty gained 2.90% each on Friday and the US markets slides to the 63 weeks low as Dow Jones hits the low of 30,635.
SGX on Friday evening slide back below the 16,000 mark to the low of 15,949 but ended at 16,171. This morning its is trading at 16,250 at 9:00am IST.
Will the bullish momentum continue this week?
The last week high and the gap area in both the indices will be crucial this week for the bullish momentum.
The gap is placed at 16,484-16,651 in Nifty and 35,130-34,800 in Bank Nifty will act as major hurdle for bulls this week.
The bullish hidden divergence on weekly chart of Nifty and Bank Nifty indicates the short covering rally in the expiry week.
If bulls manage to cross this hurdles, the target of 17,230 and 37,000 can be on cards in June for Nifty & BankNifty respectively.
#KeepItSimple
👍15❤6
Metals Index - A Rusty start to the week
The metals stocks is having the rusty start to the week as 12 out of 15 stocks are trading in red at 10:00am IST.
The leaders like Tata Steel, JSW Steel, Sail and NMDC hits the new 52-weeks low as government levy export duties on certain steel products.
Is the Metals rally over?
Metals had been the best performing sectorial indices in 2021 gaining 70%. So far in 2022, it is down by 4% (YoY) and 16% in May.
The rally doesn't seem to be over yet as it is trading at the do-or-die level of 5,200.
In the start of April 2022, I recorded a video highlighting the Nifty Metals index and Commodity prices which indicates the rally is not yet over. Watch here https://www.youtube.com/watch?v=XrFLHUz1A_c&t=26s
An increase in export duty may have short-term impact on the steel stocks which are down over 10%.
The bulls can be in danger only on a weekly close below 5,090 as we are witnessing multiple lows in the range of 5,170-5,300.
#KeepItSimple
The metals stocks is having the rusty start to the week as 12 out of 15 stocks are trading in red at 10:00am IST.
The leaders like Tata Steel, JSW Steel, Sail and NMDC hits the new 52-weeks low as government levy export duties on certain steel products.
Is the Metals rally over?
Metals had been the best performing sectorial indices in 2021 gaining 70%. So far in 2022, it is down by 4% (YoY) and 16% in May.
The rally doesn't seem to be over yet as it is trading at the do-or-die level of 5,200.
In the start of April 2022, I recorded a video highlighting the Nifty Metals index and Commodity prices which indicates the rally is not yet over. Watch here https://www.youtube.com/watch?v=XrFLHUz1A_c&t=26s
An increase in export duty may have short-term impact on the steel stocks which are down over 10%.
The bulls can be in danger only on a weekly close below 5,090 as we are witnessing multiple lows in the range of 5,170-5,300.
#KeepItSimple
👍20
Indian stock markets rebound in second half; Nifty ends at 16,214 losing 0.32%.
Metals index fell by 8.14%; the biggest fall after March 2020. What are technical levels indicating on Metals index, read here - http://www.eqtm.in/c6A5G
Nifty and Bank Nifty resist at the last weeks high and the gap area mentioned in the morning. The bulls will be in danger till these levels are not crossed, read here - http://www.eqtm.in/y5B6P
Brijesh Bhatia
Research Analyst, Fast Profit Report
Metals index fell by 8.14%; the biggest fall after March 2020. What are technical levels indicating on Metals index, read here - http://www.eqtm.in/c6A5G
Nifty and Bank Nifty resist at the last weeks high and the gap area mentioned in the morning. The bulls will be in danger till these levels are not crossed, read here - http://www.eqtm.in/y5B6P
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍8
India VIX - In the Pushpa Mode
Nifty & Bank Nifty both the indices resisted at the last week high and gap area highlighted yesterday. https://t.me/FastProfitsReport/567
As we witnessed selling pressure in Nifty which lost over 200pts in the second half yesterday, the India VIX recovered over 10% from day low.
Even US markets ended in green with 2% gains, Asian indices started the day on flat to negative note.
Nifty opened on positive note but slipped in red while India VIX witnessed continued its positive rally and trending with 10% gains today - the Pushpa mode.
As India VIX heads higher to March 2022 levels, it raise the red flags for bulls.
With price resisting on Nifty and VIX rising, the bulls need to be cautious at current levels.
On other hand, the bulls need to protect 16000PE writing (OI of 1.78L as on 9:55am) which can be the last hopes to step into June series.
The break of 15,900-16,500 on Nifty seems to have better trending trades or India VIX falling below 20 levels.
#KeepItSimple
Nifty & Bank Nifty both the indices resisted at the last week high and gap area highlighted yesterday. https://t.me/FastProfitsReport/567
As we witnessed selling pressure in Nifty which lost over 200pts in the second half yesterday, the India VIX recovered over 10% from day low.
Even US markets ended in green with 2% gains, Asian indices started the day on flat to negative note.
Nifty opened on positive note but slipped in red while India VIX witnessed continued its positive rally and trending with 10% gains today - the Pushpa mode.
As India VIX heads higher to March 2022 levels, it raise the red flags for bulls.
With price resisting on Nifty and VIX rising, the bulls need to be cautious at current levels.
On other hand, the bulls need to protect 16000PE writing (OI of 1.78L as on 9:55am) which can be the last hopes to step into June series.
The break of 15,900-16,500 on Nifty seems to have better trending trades or India VIX falling below 20 levels.
#KeepItSimple
👍27
Indian markets trades in the narrow range; Nifty ends at 16,125 losing 0.55%.
India VIX hits 2months high and trades above 25 putting pressure on Nifty. Read here https://t.me/FastProfitsReport/570
Nifty is likely to trade in the range of 159,00-16,500 till monthly F&O expiry on Thursday as per derivatives structure.
Bank Nifty may outperform Nifty in the next couple of trading session as 33,890-34,062 is the key support zone for bulls.
Brijesh Bhatia
Research Analyst, Fast Profit Report
India VIX hits 2months high and trades above 25 putting pressure on Nifty. Read here https://t.me/FastProfitsReport/570
Nifty is likely to trade in the range of 159,00-16,500 till monthly F&O expiry on Thursday as per derivatives structure.
Bank Nifty may outperform Nifty in the next couple of trading session as 33,890-34,062 is the key support zone for bulls.
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍16
Should You Invest in Diagnostic Stocks?
In this video, find out if you should consider diagnostics stocks or not.
http://www.eqtm.in/Wb6x9
In this video, find out if you should consider diagnostics stocks or not.
http://www.eqtm.in/Wb6x9
👍5
Nifty - Gap Support ahead of Expiry
As markets are trending lower and fear on the street is at extreme levels, the gap opening is an icing on cake for traders.
If we analyze the market cycle of emotions, I believe we are in the capitulation mode considering the mid-caps and smallcaps.
Index is taking supports at lower levels but resisting at higher levels too.
The bullish harmonic and support area with an extreme fear suggests the bullish reversal can be on cards. https://www.youtube.com/watch?v=78qSeaQ_XG8&t=1
Just ahead of monthly F&O expiry tomorrow, index seems to be trading near the support zone of gaps at 15,970-16,035.
These levels are also supported by the 16000PE writers with total OI of 1.78L. Though, 16300-16500 may be capped for the bulls as CE writers are aggressive.
Probably from Friday or Monday, index may head higher. The risk for bulls is the rising VIX (volatility index) which is comfortably trending above 25 and the bears inclined market breadth.
(CMP-16065)
#KeepItSimple
As markets are trending lower and fear on the street is at extreme levels, the gap opening is an icing on cake for traders.
If we analyze the market cycle of emotions, I believe we are in the capitulation mode considering the mid-caps and smallcaps.
Index is taking supports at lower levels but resisting at higher levels too.
The bullish harmonic and support area with an extreme fear suggests the bullish reversal can be on cards. https://www.youtube.com/watch?v=78qSeaQ_XG8&t=1
Just ahead of monthly F&O expiry tomorrow, index seems to be trading near the support zone of gaps at 15,970-16,035.
These levels are also supported by the 16000PE writers with total OI of 1.78L. Though, 16300-16500 may be capped for the bulls as CE writers are aggressive.
Probably from Friday or Monday, index may head higher. The risk for bulls is the rising VIX (volatility index) which is comfortably trending above 25 and the bears inclined market breadth.
(CMP-16065)
#KeepItSimple
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