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Candlestick Analysis

Escalation in Russia, Ukraine war spoils the Nifty recovery Nifty was doing quiet well and had a strong momentum going forward. On the daily chart it had gone substantially above 200 days EMA (23541) and reached 23780. Three of things happened after that. 1) There was a massive escalation in Russia Ukraine war where Putin approved use of Nuclear weapons if required. At the same time news of Ukraine hitting Russia with ATACMS US made Long Range missile. (Bloomberg reports). This is a massive event with long global consequences. Which might be parting 'gift' from Biden to Trump. (Probably to create a difficult situation for incoming Trump). 2) Nifty hit 50 hours EMA or Mother line at 23770. As all who read my posts regularly, those who have watched my videos, taken training from me and Those who have read my Mother, Father and Small Child theory know the consequences of the same. The mother line acted on and pushed the Nifty down towards the doldrums again where it closed the day below (200 days EMA or Father line at 23541) at 23518. This is a massive jolt and only time can tell if Nifty can stage a recovery again on 21st November 2024, Thursday. As we have a holiday due to Maharashtra elections tomorrow. To know more about one of the most accurate Mother, Father and small child theory which makes your equity investment easy read my book The Happy Candles Way to Wealth creation available on Amazon in paperback edition. The same is available on Kidnle and Google Play book in E-Version. 3) Third possible thing was Bulls would not want to carry long positions with impending Maharashtra election results. The election is tough to predict with political mess in Maharashtra. Elections in India are anyway difficult to predict now a days. These reasons led to massive fall of 262 points. This fall can disharten the bulls as well making the upward recovery difficult again. Positive closing in Green is the only good thing that we can take forward from today's action. Supports for Nifty remain at 23350, 23110, 22796, 22499, 21890 and finally 21313. Below 22796 is a pure bear territory. Resistances for Nifty remain at 23629, 23770 (Major Mother line Resistance which blocked the up move today), Post that there will be Father line resistance of 200 Hours EMA at 24311. After 24311 closing or weekly closing bear can take a back seat and Bulls will have capacity to pull Nifty above 25012 or even 25351 and above. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
GREATEC - FROM BEARISH TO BULLISH ?GREATEC - CURRENT PRICE : RM2.37 After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging. Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern. Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session. Target Price : RM2.52 and RM2.70 Support : RM2.26 (half candle of today session) Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best. TAYOR - TRADE AT YOUR OWN RISK.
MYX:GREATECLong
by IMRAN_96
USD/CAD: Eyes on inflation as reversal sets stage for downsideThe Canadian dollar delivered a reversal signal against the greenback on Monday, with USD/CAD printing a bearish engulfing candle on the daily chart. After trading within an uptrend since early November, this suggests directional risks could be turning, even if momentum indicators like RSI (14) and MACD are yet to confirm. USD/CAD briefly tried to bounce during the Asian session but stalled at 1.4034, the low from last Friday. For those considering shorts, this level provides a decent setup, allowing for entry beneath with a tight stop above for protection. To make the trade stack up from a risk/reward perspective, it will require the price to break minor support at 1.4003 first, opening the path toward 1.3959, a level that acted as resistance in late October and early November. Today’s inflation report is a standout in a slow global data week. The annual CPI rate is expected to climb from 1.6% to 1.9% in October, nearing the midpoint of the Bank of Canada’s (BoC) 1-3% target range. Core inflation, which is the average of Statistics Canada’s trim and median CPI readings, is expected to print at 2.4%, slightly above September’s pace. With the BoC forecasting core inflation of 2.3% by December, a result in line with market expectation should do little to diminish the view that further rate cuts are in the pipeline. However, an upside surprise could see the BoC start to slow the pace of easing. Such an outcome would improve the prospects of the trade succeeding. Good luck! DS
Short
by FOREXcom
PDS Ltd. Not looking pedestrial. PDS Ltd. is a holding company, which engages in the trading of ready-to-wear apparel. The firm is also involved in the business of holding, owning, leasing or licensing real estate. It operates through the following segments: Sourcing, Manufacturing, and Others. PDS Ltd. CMP is 514.70. The positive aspects of the company are Company with Zero Promoter Pledge, MFs increased their shareholding last quarter and FII / FPI or Institutions increasing their shareholding. The Negative aspects of the company are high Valuation (P.E. = 47.7), Declining Net Cash Flow : Companies not able to generate net cash. Entry can be taken after closing above 527 Targets in the stock will be 539 and 570. The long-term target in the stock will be 590 and 603. Stop loss in the stock should be maintained at Closing below 469. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:PDSLLong
by Happy_Candles_Investment
HDFC Bank Solid as it has been. HDFC Bank Ltd. engages in the provision of banking and financial services including commercial banking and treasury operations. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking, and Other Banking Business. HDFC Bank Ltd. CMP is 1705.1. The positive aspects of the company are Attractive Valuation (P.E. = 18.8), Company with Zero Promoter Pledge, Stocks Outperforming their Industry Price Change in the Quarter and FII / FPI or Institutions increasing their shareholding. The Negative aspects of the company are Companies with High Debt, MFs decreased their shareholding last quarter, Declining Net Cash Flow. Entry can be taken after closing above 1717 Targets in the stock will be 1738, 1757 and 1773. The long-term target in the stock will be 1795 and 1818. Stop loss in the stock should be maintained at Closing below 1627 or 1614 depending upon your risk taking ability. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:HDFCBANKLong
by Happy_Candles_Investment
Trend Shift Confirmation Setup - Eurusd short setupMarket Context: Current Trend: The market appears to be in a bullish phase. Counter-Idea: Following a tap on the Fair Value Gap (FVG) formed on July 18th, a potential shift toward a bearish trend exists. Setup Breakdown: SSR Flip Area: A multi-tested SSR flip zone has been identified around 1.12032, having been tested three times. This indicates a strong potential for selling opportunities. The latest test of this zone occurred on Monday, August 26th, which resulted in a structural shift in the market. This shift has led to the taking out of a daily low, suggesting a reversal in price direction. Entry Analysis: Key areas were initially mapped out on the daily timeframe and then refined on the hourly chart. Previous liquidity areas that align with the current price movement were identified to enhance the entry strategy. Additionally, areas exhibiting the strongest volume were mapped to ensure they are in proximity to the entry zone. The ideal entry point was determined where the breaker block and FVG intersect, creating a confluence of signals. Risk Management: The entry was strategically placed at the middle of the breaker block, FVG, and SSR flip areas. This approach ensures an optimum entry point while managing risk effectively. It is crucial to emphasize that traders should conduct their own analysis before executing any trades. Important Reminder: Risk Management: If you decide to take this trade, be sure not to risk more than 1% of your capital to safeguard your investment. Trading inherently carries risks, so it’s essential to trade wisely and make informed decisions.
Short
by BFUFX_MARKETS
1
Downtrend break for #NOTAfter the release of this currency, due to airdrop and free tokens, the downward pressure always prevailed on this currency, now and this week we saw the complete evacuation of cowardly sellers on the floor After the falling trend line was broken, the strong price growth of this currency along with #Dogs and #TON showed that these currencies have the ability to make profits, a good position has been created now and I myself have made some purchases.
Long
by Reza_kahe
3
Nifty near Mid channel & 50 Weeks EMA (Mother Line) support. Nifty after closing below the 200 days EMA Father line on daily charts, may find support near 50 weeks EMA (Mother line of Weekly chart). The 50 weeks EMA is at 23233. Before reaching there today's low of 23350 will also be a support. If by chance both these levels are broken the mid channel support for Nifty seems to be at at 22800 zone. Below which the bears have potential to drag Nifty further down to 22500 or even below 22K levels. To know more about Parallel channels and how they work or my Mother Father small child theory you can read my book The Happy candles way to wealth creation. Available in Paperback or E-version on Amazon and Google Play book. Resistances for Nifty on the upper side are at 23658, 24122, 25012 and 25898. Above 25989 Nifty will aim to make a new all time high again as channel top currently seems to be near 27K. RSI is also suggesting that Nifty can make a substantial come back any time now. Bollinger band lower band width has been pierced today both in daily chart as well as weekly chart indicating that market is heavily oversold and short covering can lead to a moderate recovery or substantial recovery sooner than later. The signs of bottom formation are clear unless FIIs begin another round of aggressive selling. The selling by FII has been continuous but seems to have decreased in the last few sessions rising further hopes for recovery. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
AUDUSD rebound hinges on US yield stability, China market upsideWhile AUD/USD has maintained a strong inverse relationship with US Treasury yields across the curve over the past fortnight, the connection is weaker compared to its link with China-related variables over the same period. This suggests that any rebound in the Aussie this week may require not only stability in US rates but also a recovery in Chinese sentiment and markets, especially with no major Australian data due for the remainder of November. The daily candlestick pattern in AUD/USD will form a morning star if prices can grind towards the session highs during European and North American trade. RSI (14) is diverging from price, signalling shifting directional risks and potentially increasing the odds of a bullish reversal. Topside levels to watch include 0.6480, former downtrend support at 0.6505, and 0.6513 – a break above the latter could pave the way for an extended rally. On the downside, 0.6441 is a level to watch, offering a potential setup where longs can be established with a tight stop beneath for protection.
Long
by FOREXcom