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A Crypto in a minority that's bullish today. Binance Coin BNBUSD Binance are usually right on cue with their Crypto ownings. The chart patterns are usually suggestive of bullish buy positions. I checked this on mulitple timeframes. It looks to be at its record high price. Certainly one to watch. At time of writing Bitcoin is also in supply mode. I would not recommend a short trade in it as such, only because its very volatile and it switches between buy and sell sides faster than any instrument I think of. Also bearish right now is dogeusd and many others.
EIGHTCAP:BNBUSDShort
by Easy_Explosive_Trading
2
Paytm - Royal Trapping of Retailers (or) Real Bullish Reversal ?Paytm is Hot News for the past couple of weeks on all Social Media channels for obvious reasons. While RBI and Central Govt turned their back on Paytm, the once famed as Hero is now on the verge of becoming Zero. Right from the IPO valuations, Paytm is not in good books of many investors and has been losing its value continuously from 2000 all the way down to 300 range now While Many Retailers who are Trapped in there - looking up to the almighty for a saving hand, many feel the new about Axis bank taking up the role of Paytm Payments Bank is that Light at end of the Tunnel. Do the Technicals support this view ? or is it one more ploy by the Biggies to Royally Trap the Already Beaten down Retail investors ? Let's review below Technical Analysis: Monthly Chart: Right from IPO the price fell, then moved upside inside a Parallel Channel forming a Bearish Flag pattern then Breakdown of Flag which is so bad Weekly Chart: We published the Weekly Chart on Feb 14 - clearly calling Paytm to be a dangerous script to invest in right now. It Broke-down from the 2 Year Upward Parallel Channel and broke the Last 3 Rays of Hope (the 3 Support lines). It was a Classic case of Breakdown-Retest-Fall Daily Chart: On the Daily chart - for the past 3 days, Paytm is hitting 5% UC, but where is it heading ? Heading right to the Previous Bounce Zone - 395. Now Why is 395 so significant ? Its not just the Resistance Now - but rather on the Fibonacci Retracement scale - 395 is sitting right at 0.382 Retracement Level. Remember Fibonacci Retracement rule ? If any stock happens to Retrace to any one of Fibonacci Levels and It also happens to be a Support / Resistance then it adds more power to the Support or Resistance. In this case, its a Resistance. If the Price gets rejected from 395, then again its the classic case of Breakdown-Retest-Fall What is Safe Zone now ? Anyone Already Holding Paytm - continue to Hold and wait for confirmation of Rejection / Breakout of Resistance at 395 zone New Entries must strictly be avoided at this stage - No Bottom Fishing - else you wont survive to have your Sunday Fish Fry :) The Bullish Confirmation starts only after successful and decisive Break-out of all 4 Resistances (395, 440, 480, 525). Until then - it is still Bearish Play Safe..Advice Caution...No New Entries Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered Our focus is NOT providing Buy/Sell Recommendations/calls Primary Objective is to provide detailed analysis of how to review a chart, explain multi--timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:PAYTMShort
by Stocks-n-Trends