TECH
NIFTY INTRADAY LEVELS FOR 29/12/2023BUY ABOVE - 21790
SL - 21730
TARGETS - 21860,21930,22000
SELL BELOW - 21680
SL - 21730
TARGETS - 21590,21490,21410
NO TRADE ZONE - 21680 to 21790
Previous Day High - 21790
Previous Day Low - 21680
I am sharing NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.
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Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Please NOTE: this levels are for intraday trading only.
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BTC - Top-Down Analysis 📹 2023 =>2024 Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 Here is a detailed update top-down analysis for #BTC.
Which scenario do you think is more likely to happen? and Why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
ETH - A Major High To Be Broken in 2024Hello TradingView Family / Fellow Traders,
ETH has been hovering within a range for a couple of weeks, now fluctuating between 2120.0 and 2320.0.
📈 For the bulls to remain in control and take over from a medium-term perspective again, we need an H4 candle close above the range, at 2320.0
In this case, a movement to the 2,500 round number and upper red trendline would be expected.
📉 Meanwhile , ETH would be stuck inside a range, but the bulls will remain in control as long as the 2,100 level holds.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
QQQ rejected off top of 2009-2023 channelBlue channel represents the primary trading channel since the 2009 crash. Only during the Covid bubble was QQQ able to escape that channel (ended up doubling it). Price can still work its way up along this resistance line, such as 2014 and 2018, but both of those times the stock market averaged out to be pretty flat over about a year time frame.
Here it is on the 1W
TESLA Do or Die moment to break the 2021 Resistance.Tesla (TSLA) is extending the rally following the buy signal (see chart below) we gave on November 07 at the bottom of the 1 year Channel Up:
The price has had 6 green candles out of a total of 7 and looks to repeat the Bullish Legs of April - July and January - February. What's more important than that, is that Tesla is approaching its 'Do or Die' moment as for the 5th time in 2 years (since November 2021), it is about to test the Lower Highs trend-line of the All Time High (ATH).
This huge Resistance level has rejected the price 4 times already, always initiating strong sell-offs. The 1W RSI has already broken above its own Lower Highs trend-line of July, so this could be an early signal of strength accumulation.
If we get a 1W candle close above the Lower Highs, we expect the final phase of the Bullish Leg to materialize and that would have practically confirmed that Tesla finally officially entered into a new Cycle of long-term growth. The target remains $345.00, representing a +75% rise from the recent Channel Low (-20% from the previous Leg).
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Marathon Digital #MARA Inverse Head and Shoulders. To over $100!Back in 21/22 Looking at the #Bitcoin miners helped me directionally to confirm the bear market.
Now in 2023 we have the flip flop
Miners exploded out of the bear market lows.
Check Back, with a healthy retracement. Putting in higher lows.
And now look ready to resume their climb higher.
#Marathon is a great example. A leading name and company within in this sector. And is showing a potential inverse head and shoulder's
The chart shows two targets Linear and Log.
Log target suggests a #Bitcoin price that will trade over $100k --- The promised land.
Will people's live actually be better with BTC @100K ???
Well, only if they are investing now... not buying above that magical mark obviously. :)
AI about to break upwards aggressively.AI (C3.ai) has made a Higher High yesterday, the highest level it's been since August 15. Having put both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) behind, this rebound is taking place after a perfect bottom on the long-term Channel Up.
The first Bullish Leg of this pattern peaked on the 1.382 Fibonacci extension before a 1D MA200 pull-back. As a result, we are taking this early buy signal to target $60.00.
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CIBR: Cybersecurity Stocks Surge Into Year EndIt has been a record year... for cyber extortion. Orange Cyberdefense data, detailed in a Bloomberg article this week, reveal that there have been four straight quarters of increased corporate victims of hacks and financial blackmails. Major recent cyberattacks include those on MGM Grand, Clorox, Boeing, and China’s ICBC just this year alone. It is all good news for companies engaged in protecting against the increasing threat of large-scale ransomware attacks, among other tech-based crimes.
While shares of CrowdStrike and Palo Alto Networks have been strong lately, investors can play the trend at a higher level through the First Trust NASDAQ Cybersecurity ETF (CIBR). The $5.9 billion fund has a moderate 0.60% expense ratio, and it pays a modest 0.3% dividend yield. The issuer notes that the portfolio’s price-to-earnings ratio is lofty at 27.7x, but Morningstar reports that the ETF’s long-term earnings growth rate is respectable near 10%. To boot, you also get some semiconductor chip exposure, too.
For traders, CIBR’s momentum has been off the charts lately. Up seven weeks in a row, the basket of cybersecurity names has risen from the low $40s to the mid- FWB:50S as we head into 2024. A key thematic play, with fundamental strength (see CrowdStrike’s earnings late last month), I see the potential for CIBR to continue to rally, though shares have historically consolidated over the first 10 weeks of the year. As it stands, I see support between $47 and $48 with another layer of potential buying activity coming into play at $43. On the upside, keep your eye on the November 2021 all-time high just shy of $57.
The ETF successfully held its rising 200-day moving average earlier this quarter, and the breakout through $47 projects a measured move price objective to $58 based on the rounded bottom formation from Q2 this year to the December near-term breakout. With a daily RSI north of 86, we could see CIBR cool off, but the broader trend remains constructive in my view, and new all-time highs are certainly in play over the coming weeks.
PALANTIR Buy opportunities within the Channel Up.Palantir (PLTR) is trading within a 16-month Channel Up and is right now below the 1D MA50 (blue trend-line) and above the Channel's median. Once the 1D RSI hits again the Support Zone, it will be a buy opportunity again (assuming it also hits the Channel's median). The previous Bullish Leg on the median rose by 58.85%. As a result our target will be $25.00.
This trade will be invalidated if the price breaks below the 1D MA200 (orange trend-line). In this case, we will wait until the stock approaches the bottom (Higher Lows trend-line) of the Channel Up again. The previous Bullish Leg on the Channel's bottom rose by +136.50%, which is marginally above the $25.00 target.
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SNAP The best short on the market.Snap Inc (SNAP) has been on an incredible rise since practically October 26, which was straight after the bottom on the Higher Lows trend-line of the 1-year Bullish Megaphone pattern. Technically that is the pattern's 4th bullish leg towards its top (Higher Highs trend-line). The price is very close to that level, which is also where the 1W MA100 (red trend-line) is waiting.
That is a trend-line that has been untouched for almost two years (January 04 2022). Obviously it is a major Resistance and coupled with the fact that the 1D RSI, besides touching its Higher Highs trend-line, is on the highest overbought level in three years (Oct 23 2020), makes a case for one of the strongest sell stock picks in the market.
All of the Megaphone's Higher Highs rejections have pulled-back to at least the 0.5 Fibonacci retracement level before a bounce. As a result, as long as we close the 1W candles below the 1W MA100, we are shorting Snap, targeting 12.00 (slightly above the 0.5 Fib).
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Does this scare anyone, or nah?Has this rally been the "complacency" rally? Jim Cramer recently tweeted how much BILLIONARES should be kicking themselves for not being part of this monster rally. Is this just a giant lower high/bull trap and are we already rolling over into the Great Depression 2.0 or ughem, a Great Rest?
Now would be a good time to short the Nasdaq Index...Short term resistance has been met and the Nasdaq has just recently broken through its short term support. This would indicate to me a correction will follow taking the price of the Nasdaq back down to medium term support.
After this i would exercise caution, any short term bounce may be followed by another breakdown in the medium term support. Then the Nasdaq may head lower into the long term support range which is typical after such a long bull run in tech stocks.
The catalyst for this correction in tech stocks will be for the economy to rollover after the Fed's aggressive rate raising cycle.
NAS100 H4 | Potential bullish reversalNAS100 could fall towards an overlap support and potentially bounce off this level to rise towards our take-profit target.
Entry: 15,809.50
Why we like it:
There is an overlap support level
Stop Loss: 15,638.50
Why we like it:
There is a pullback support level
Take Profit: 16,139.82
Why we like it:
There is a resistance that aligns with the 161.8% Fibonacci extension level
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Bullish Wedge pattern breakout in GLENMARKGLENMARK PHARMA LTD
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Bullish Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 875+.
✅Can Go Long in this stock by placing a stop loss below 745-.
$NVDA downside gap-fill potential!NASDAQ:NVDA ,1D: Price dipped just below the 50% line and popped back up over the line after coming off the local lows at 403. Given the 'uncertainty' around the level and duration of a 'higher for longer' rate environment along with the market's general preference for 'clarity' over 'uncertainty', it would not be unreasonable to expect the 'increased volatility' that comes with 'uncertainty' until some level of 'clarity' can be established around the duration of the current 'higher rate environment'.
Further adding to the potential for 'market uncertainty' and 'lack of clarity' are the tenuous and ongoing negotiations between the U.S. and China around access to semi-conductor IP. NASDAQ:NVDA utilizes the cost benefits provided to its model from the 'cost efficiency' of both Chinese and greater Asia's manufacturing and production capacities. Were trade relations around semi-conductor IP between China and the U.S. to become 'less amenable', the deterioration of that relationship could adversely impact NASDAQ:NVDA 's margins.
If NASDAQ:NVDA had to re-establish production/manufacturing supply chain relationships elsewhere this could inject 'uncertainty' into the price discovery process. These are 'unknown unknowns' at this point and hard to factor into analysis, but at a minimum, they would increase the potential for 'market uncertainty' and the subsequent 'lack of clarity', which often leads to 'price volatility' until some level of 'certainty' could be re-established.
Looking at our 1 day RSI against price I am seeing a 'bearish divergence' whereby price makes 'higher-highs' and 'higher-lows' while the RSI prints 'lower-highs' and 'lower-lows'. This can be taken as a 'leveling off' of momentum that often precedes a change in price direction or, at a minimum, a significant pull back within a constructive trend. (see light violet curves)
I would expect that a downside 'gap fill' could be a 'necessary evil' at some point in time across the next 6 weeks or so, and before further gains to the upside could probabilistically be portended from a structural standpoint. The bottom of the gap fill is roughly in confluence with the YTD VWAP (peach).
NOT FINANCIAL ADVICE. ALL STOCKS CAN GO TO ZERO.
$ON: The EV downside is already priced in.$ON:1D
With the earnings forecast providing downside price pressure on the longterm trend, NASDAQ:ON hits the lowest level on its1D RSI in over two years.
Needless to say, our trend has been weakened from a Pearson’s R^2 of 0.91 down to a Pearson’s R^2 of 0.88 while losing a little more than 3% of the longterm trend strength in the process.
While there are significant headwinds facing the EV market at current, from supply constraint’s on graphite to scaling EV’s across our shaky electrical grid system, it seems as though NASDAQ:ON has those concerns ‘overly priced in’ and could be poised for a rebound along with the broader semi-conductor market.
I would expect NASDAQ:ON to make an attempt at coming ‘back in line’ with its long term trend and to make a move up to the lower 3rd standard deviation line at 76.49 and possibly higher before year’s end.
Not financial advice. All stocks can go to zero.