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Indianmarket

COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE?COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE? The BRICS alliance aims to dethrone the US dollar’s global supremacy. India’s rapidly growing economy has led to speculations about its potential role in this shift. Despite being a BRICS member, India maintains strong economic ties with the U.S. In the dynamic landscape of global finance, where the BRICS alliance is sharpening its talons, aiming at the soft underbelly of the US dollar’s supremacy, India emerges as a beacon of hope for the greenback. While the BRICS coalition might assume they have the unwavering support of all its members in their quest to topple the dollar, India’s economic trajectory and diplomatic allegiances paint a different picture.
Long
by henryartem
Nifty 50: Meltdown @19,600Week Ahead: On Daily charts, the index has lost all its momentum even though the fall has slown down but it has left huge runaway gaps between daily candles. Ideally such situation woul need to trade within crucial candles range and be mindfull of taking trades when Index trades near the gaps, as the saying goes, most of the time index always closes on gaps. From levels perspective, Nifty is still vulnerable to fall around 19,600. Key levels aroun here are 19,502-19,595 and much on lower side are 19,386 , 19,326-19,230. If the markt settles around 19,600 then a move beyond 19,795 will make the fog clear around the botton of this last week’s meltdown.
NSE:NIFTY
by chandakpulkit
WRX quick tradeHello again! So, besides the longer charts, let's see what Fractalic one can bring to us. Few days ago I've seen BINANCE:OGUSDT forming the exact same pattern as it has shown in April, now with BINANCE:WRXUSDT i see the same formation either from July (better scenario) or June (meh but still ok). If we're at June's formation: - Quick buy at 0.102-0.103 - Sell at 0.112 Profit: 9% If we're at July's one: - Enter at 0.098-0.1 - Sell partly at 0.112 / 0.12 / 0.132 Overall profit: 17% - 32% Don't forget to use Stop Loss, however with CRYPTO:WRXUSD we're very close to the bottomish bottom of the bottom. This coin has served as a lifechanger for some giving a ridiculous 10500% in 2021. Dumped hardest 98,85%, accordingly. And still is always performing pump/dump scenarios here and there even being this low. So, let's see what will it bring to us in a longer term, too. Giving a shot that it's mostly Indian market and I believe India to hop on its exponential growth very soon, we can make that lifechanger candle great again. Potential Buy / set Take Profit in the sky / and Forget if we'll ever go to 0.08 or if we will surpass this long support line and move further to 0.05-ish.
Long
by A_I_Vision
Nifty 50 Weekly Market OutlookWeekly Review Nifty 50 continued to fall for the 5th week straight. The index has retraced -3.64% from its all-time highs. Although in mid-week bulls tried to outnumber the bears as index witnessed a good rally till 19,585 levels but was soon rejected as it faced huge selling pressure pushing the index to 19,265 with a gap down opening the very last day of the week. Week Ahead : On Daily charts, the Nifty 50 index seems to form a falling wedge which shouldn’t go unoticed as we have seen a euphoric rally in past mid week. This indicates a strong push by bulls to regain their fort but that’s a conditional outlook if the index is breached beyond the falling trendline (downward sloping-upper trendline) with sustained move till 19,300-19,375. A break above 19,600 is a crucial resistance for any rally beyond that level and given the fact that market still holds 19,494 as crucial level. On the lower side if the selling pressure weighs heavy, a possibility of 19,194 , 19,076 and 18,977 can’t be ignored.
NSE:NIFTY
by chandakpulkit
NIFTY - A Speculative IdeaThis idea is based on the Elliott Wave Theory - involving the use of ending diagonal pattern. An ending diagonal suggests an end to the ongoing trend (in short-medium term). It involves 5 sub-waves and is mostly broken downwards (or upwards) with a heavy momentum. Overall the market seems to be completing its 5 waves structure too (wave count mentioned in brackets). This calls for a correction where the market retraces back to a previous support level. The Monthly RSI has also moved downwards while the price made a higher wave (inside the diagonal) - this is considered a confirming indicator for an ending diagonal pattern. However, the idea is derived after ignoring some 'noise' on the chart (wicks). The price is also showing a breakout upward, which could right now be considered a 'false' one. Closing of the price inside the structure is what's important. Most technical analysis would point to a bullish scenario at this point as the market has been soaring for the past few months. So this is clearly a biased analysis which first assumes that the market needs to be in a correction now. Any investment or trading based on this needs to be managed properly with appropriate risk/money management.
NSE:NIFTY
by sKeshav