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Nifty PSU Bank Rally - Real or Trap ???Since US Federal Reserve cut 50 bps points on their interest rates last week - there is so much Hungama on the Media Channels about an impending BLAST on the Nifty PSU Banking Sector Everyday there is news that the Sector would Rally and as "Anticipated" by so many the PSU Bank index Blasted 3% yesterday and was the Top Gainer among the Nifty peers But has the Rally Really Started yet ??? Before falling Trap to Media Hype - let's take sometime to analyze - why it MUST Rally now ? 1. There are NO new investments in this sector 2. There is no major policy change from India's PM, FM or RBI 3. Even if there is a News or Interest Rate reduction from RBI.... the technical structures doesn't show upside now Quarterly Timeframe (On Left) 1) There has been a Non-Stop run of 650% in just 4 years (since Apr 2020) 2) Also, given the September Quarter is just about to end in 4 more sessions, the current candle shows "Bearish Engulfing" candle + "Tweezer Top" formation - both indicating Bearish side 3) On Quarterly - we can also, see the Multi-year Parallel Channel broken out during Jan 2024 and now the price is Retesting the BO zone 4) There are no intermediary Supports created - before reaching the Parallel Channel Retest zone Daily Timeframe (On Right) 1) The price has already taken a Resistance from a Combination of Falling Parallel Channel + Weekly Resistance and fell -0.86% today 2) The price would further fall down to the bottom of the Falling Parallel Channel around 6,215 zone and then go sideways for some more time The Monthly Timeframe chart (on Middle) 1) The Price is expected to Bounce once sharply - may be with the news from RBI on Rate Cut - you can see a 1-2 days sharp blast which WILL NOT sustain 2) The price would form a Double Bottom by retesting the Multi-year Parallel Channel and then take a Bullish reversal - by which time it would be end of Current Financial Year Don't get attracted by a short 1-2 days or even a week blast due to any rate reduction by RBI. As soon as the effect of NEWS subsides the sector would stop or fall again. There is NO juice left for a continuous rally after giving 650% returns
NSE:CNXPSUBANK
by Stocks-n-Trends
ABT a slow moving low beta medical stockABT is Abbott Labs, a well-established medical technology company has had good earnings twice this year. In the first episode, the price trended down then recovered in a retracement. I have anchored a long-term mean VWAP and its standard deviations as a means to assess areas of dynamic support and resistance. One week ago, the price crossed the mean VWAP in its uptrend. I see this as a good place for a long trade over a month or more. For a stop loss I will place the stop below the mean VWAP also confluent with two horizontal support lines as well as the rising support trendline and the POC line of the volume profile Targets are the first and second standard deviations at about $105 and $110. I will make an optimal entry from a pivot low on a timeframe of 30-90 minutes. As the anticipated ROI is relatively small although with reasonable risk, my approach is a call option for mid-September with a strike in the range of $100-104. I expect this to yield 25% or more monthly until signs of a pullback or reversal. While the general market has heightened volatility and controlled chaos, I see adding some trades of slow-moving low beta stocks to be proper risk management.
NYSE:ABTLong
by AwesomeAvani
FAILED TO RISE BUYERS SQUEEZED - REMARK HOLDINGS - MARK - DAILYRemark Holdings Inc share have seen an important rise but since June we notice that the tops are falling, moreover, buyers have been squeezed in the middle of the month. The formation of a potential triangle in the market shows that decisions are not be made before the first week of July. Only a break of the red line or the secondary dotted lines will tell us if we can be active on this market. Possibility of having a market ranging until then.
M
by Diallo_Charts_Ideas
4
Fist's Slow Move Heiken Ashi EMA7 Side by Side ComparatorGlaz's great slow-move HA with a couple of tweaks and an EMA7 applied. Works exactly llike the EMA6 strategy by Shiva Krishnan but with clear reversal arrows. For folks new to trading, I'd strongly suggest you only trade with trend - catching reversals can be tricky: so many people get killed doing this. Additionally, the 'trade fear, not greed' principle is worth thinking about i.e. trading short is often more dynamic than trading long. Publishing at 15M but designed for 1M. Might work across multiple time-frames. Shiva's strategy suggests you take 2M trades from 1M charts. Others advocate 3M chart and 3M trade immediately after harami set-up or doji, with trend.
by benedictwellstood