Market-analysis
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Platinum A Complex Equilibrium - Unraveling Market DynamicsThe platinum market is currently navigating a complex equilibrium shaped by a confluence of factors. A persistent supply deficit, driven largely by robust industrial demand, particularly from the automotive sector, has exerted upward pressure on prices. However, the specter of electric vehicle adoption, a long-term threat to platinum demand in the automotive catalyst market, introduces a countervailing force. This dynamic interplay between supply-demand fundamentals and technological disruption creates a challenging environment for market participants.
Moreover, the geopolitical landscape, particularly in South Africa, the dominant platinum producer, adds an additional layer of complexity. Labor unrest, infrastructure challenges, and broader political instability in the region can significantly impact supply and, consequently, prices. The broader global geopolitical environment also plays a role, as tensions between major world powers can create uncertainty and market volatility.
Despite these headwinds, the potential for inventory depletion and ongoing industrial demand suggest that the market may continue to exhibit bullish tendencies. Yet, the magnitude and timing of these bullish impulses will be contingent upon the evolving dynamics of supply, demand, and geopolitical risks. As such, market participants must adopt a nuanced perspective, carefully considering both the short-term and long-term implications of these interconnected factors.
Essentially, the platinum market is a complex system characterized by non-linear relationships and feedback loops. Understanding these intricacies is crucial for developing effective investment and trading strategies.
XAUUSD As from our previous analysis we published both bullish and bearish targets for xauusd , as the market lacks momentum we finds a buy from 2322,
at the point 2322 we can find big bullish volume and also 100 day moving average passing through. we can also elicit the presence of an order block as well as a fair value gap in this region.
for more information follow our previous chart analysis posted.
LIKE SHARE BOOST AND FOLLOW US
XAUUSD ANALYSIS OF THE DAYXAUUSD has seen a big fall in last two days from a upper level of 2450 to 2328 almost 1220 pips and there is no rational reason for this fall instead lot of looming geopolitical us market related financial revelations are moving market.
currently we see a few up trends from two layer
entry level : 2329
entry level 2 : 2312
major tp and resistance points 2344 2363 2376 2383 2397
pivot 2365
trade with care
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xauusd analysis for the dayBefore the much anticipated FOMC meeting market has fallen deep down to 2376 area and we have predicted this fall two days before.
now there is a demand pressure in 2365-2370 area and if market breaches 2376 it can go upto 2420.
support area : 2365
tp ; 2383
tp : 2393
tp : 2397
tp : 2407
tp : 2420
Nifty Short , Medium& Long Term View-26-Feb-24 to 01-Mar-24Nifty Short , Medium & Long Term View-26-Feb-24 to 01-Mar-24
Nifty closed at 22212 (22040) and touched low & high of 21824 & 22297
RSI and stochastics levels reduced this week (90% & 90% Respectively). Both Rsi & Stochastics is in overbought zone.
Volatality was seen on Thursday with more than 400 points.
Market crossed 22150 last week. Need to decisively close above all time high 22294/22314 (Fib Resistance). Earlier 30-35% profit booking was suggested (except Bank & IT stocks). Partial Booking can be considered for further 5-10% wherever valuation are high. There is no worry on Good Valued Stocks which can be kept for Long Term. This cash will be useful to buy when during the fall.
Nifty IT 38045 (38477 ) -To continue hold. Nifty IT touched new high of 38477 last week. Major support at 34918 /34000. Target can be 40000.
Nifty bank 46554 ( Prev Week 45634 ) -To continue buy on dips. Nifty Bank touched 47350 high last week. Target 48618 ( all time high)
support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips.
Refer to detailed comments in the bottom.
Nifty 22212- Short Term ( Neutral )
All time high 22294/ 22314 (Fib Resistance) will be a key resistance.
Support - 21554 (Fib Support ), 20877 Fib Support as shown in the chart.
Nifty Medium Term & long Term - Can buy at 20800 -21000 level in case of dip for a short run up.
Target Fibonacci extended resistance is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty will move to next target 22819 (Fib Resistance)/22500.
Support at 20225 (prev high), 20000 ( Fib Resistance)
Long Term
Market expected range bound between 22800 to 18800 expected till mid of 2024.
Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance).
Comments :
Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000.
Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips.
As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
DMART--Head & Shoulders??Head and shoulders pattern is identified in this stock.
we have a chance of right shoulder formation. keep safe in this area.
price is now near to Right shoulder
on bottom we have a strong support lies at 3550 levels.
if price breaks the neckline we have a support lies at 3550.
multiple times price rejection to topside is observed from 3650 levels, but we have demand zone, it wants to test the demand zone.
keep in long side from support levels,
if neckline failed to push the price downside we have a continuation from this support levels, upside.
If Demand zone fails large sell off is going to observe in this stock.
DMART one more Upward Impulse Wave about to form.
According tenth Elliott Wave Theory Price forms a 5 Wave Sequence structure before the major Correction, here we see that we have Wave 1, 2, 3(strongest upmove), Wave 4(correction), are complete.
Currently Price has formed a Quarterly Demand which has its LegOut closed above the EMa which indicates a Strong Buying and Price hasn't violated any Supply which signifies there was a temporary correction which is over and now Price is ready to Shoot above the end point of Wave 3, hence Target derived is Rs. 6000.00
This is a Trade where the reward is amazing against the minimum risk defined.
buy for us30 positional 30 minute timeframecurrently us30 is making HH and it is extreme bullish. cause us30 is at lifetime high.so before going long bearish it will plays out in ATH for sometimes may be 2-4weeks . we have observe a oder block in 3om timeframe so watch the PA closely to that oder block if we get rejection from that area we will enter and target for the new high.HOPE FOR GOOD.
Avenue Supermarts (DMART) is at resistance levelWith reference to the attached chart, you can easily identify that DMART is at a resistance level and close below that line yesterday. Now it looks like DMART will again tank towards Rs 3300 level for Support level testing. You can also take advantage of it with the following levels:
Entry Below: Rs 3580
Target: Rs 3350
StopLoss: Rs 3670
Note: Please consult your Advisor or do your own analysis before taking any trade
🔥 CAKE = 💀Last month I made an analysis on CAKE and the fact that it was selling off severely. My 2.50 support was the last hope for the bulls, which inevitably failed.
Fast forward to today, and we're trading at 1.50, a truly abysmal feat. Short-sellers are happy, stakers and investors are either exiting in droves or seeing their funds evaporate.
I think that there's little hope for CAKE to ever recover from this. Unless they make some drastic changes to the tokenomics of this token, I don't see it ever taking off again. Keep in mind that this is normal for a lot of tokens. The good ones survive the bear market, the bad ones die.
We might see some kind of pump occurring over the next year, but I'd be surprised if this token will go above 3.00 ever again.
SPY Fake BreakoutIn January, SPY has attempted to breakout of downtrend and back into bull market territory. I don't believe this pump is sustainable because there is nothing good about the economy right now. The Feds still need to deflate the 6.5% inflation. When the MACD crosses below signal line you will begin to see the price of SPY tank.
DMART AT BUYING ZONEOn the results shaver Dmart down more than 17%
CMP at 3458
PROS:-
1. Forming a hammer pattern at daily support level & trend line.
2.RSI Showing divergence & cross over.
3.MACD also showing strongly cross over.
4. before candles shows some buyers strenght.
risky traders can enter now
otherwise wait for 2 nd candle to close above higher price of inverted hammer
SL will be below inverted hammer LOW
Target min 12% from here.
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Market Breadth 2023-01-19Index : Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator : Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator : Rare bullish breadth thrust 12 Jan. MMFI >72 (overbought or bullish acceleration in market turn). Countermove attempt 18 Jan.
MR10 : SPY (-4 None) / QQQ (21 bullish continuation) / IWM (25 bullish continuation) = Recommended new focus is None.
20 percent study : Up 43 (extended movers, indecisive candle) and down 10.
Conclusion : This bullish move happened unlike previous ones (without oversold condition / market new low). The breadth has been very bullish, was however inclined to hit a wall which happened 18 Jan, which in advance had a proper reversal indication. Whether we continue with a minor correction towards the mean and consolidate (rest of week) before upside or break into new lows are hard to tell at this point. Based on historic price action we will continue lower (bounce into breakdown), but this move happened outside these conditions so be attentive.
Actionable : Primary indicate bullish continuation / bearish reversal and most point toward the latter on the short term. Will focus on daytrading with decreased size and wider stops (fade risk has improved). Will only hold top quality setups from the 9 million scan.