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Technical Analysis

[INTRADAY] #BANKNIFTY PE & CE Levels(18/10/2024)Today will be slightly gap down opening expected in banknifty. Expected opening near 51050 level. After opening if banknifty sustain above 51050 level then possible short correction upto 51450 level. 51450 level will act as a strong upside resistance for today's session. Any bullish rally only expected if banknifty starts trading above 51550 level. Downside in case banknifty gives breakdown of 50950 level then sharp 400-500+ points downside rally expected.
NSE:BANKNIFTY
by TradZoo
USDJPY: Uptrend Remains IntactHello everyone! USD/JPY is finding fresh demand alongside the US Dollar in the Asian session on Thursday. New measures in the Chinese real estate market disappointed and strengthened the safe-haven greenback. The US Retail Sales data will now be in focus, and looks vulnerable. However, in the short term, with the trend still intact and because of the principle of "trend is your friend", Ben predicts that the price will correct slightly to test the 34 and 89 EMA before continuing to strengthen further in the near term. What do you think about this major pair today?
Long
by Bentradegold
SWING IDEA - FIVE STAR BUSINESS FINANCE LTDFive Star Business Finance, a leading NBFC (Non-Banking Financial Company) providing small business loans, is showing promising technical indicators for a potential swing trade. Reasons are listed below : 750-780 Levels Tested Multiple Times : The 750-780 levels have been significant resistance zones. The price is again attempting to break through these levels, indicating strong bullish momentum. Bullish Marubozu on Daily Timeframe : The recent formation of a bullish marubozu candle on the daily chart indicates strong buying pressure and suggests potential for further upward movement. Bullish Engulfing Candle on Weekly Timeframe : The weekly chart shows a bullish engulfing candle, which engulfs the previous week's candle, signaling a strong shift towards bullish sentiment. 0.5 Fibonacci Support : The stock is finding support at the 0.5 Fibonacci retracement level, suggesting a strong base for a potential upward move. Breaking 6-Month Consolidation Zone : Five Star Business Finance is breaking out of a consolidation phase that lasted for 6 months, indicating the potential for a new bullish trend. Trading Above 50 and 200 EMA on Daily Timeframe : The stock is trading above both the 50-day and 200-day exponential moving averages, indicating a strong uptrend and providing robust support levels. Consistent Higher Highs : The stock has been consistently making higher highs, reflecting ongoing bullish sentiment and a sustained uptrend. Target - 875 // 950 Stoploss - weekly close below 685 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:FIVESTARLong
by Visionary_Growth_Insights
SWING IDEA - SHREE RENUKA SUGARRenuka Sugars , a leading sugar manufacturer in India with a strong presence in ethanol production, is showing a promising swing trade setup. Reasons are listed below : 53 Zone Breakout : The 53 zone, a previously strong resistance, has been breached, indicating potential upward momentum. Bullish Marubozu Candle on Daily Timeframe : A bullish marubozu candle has formed, reflecting strong buying pressure. Crossing 52-Week High : The stock is crossing its 52-week high, signaling strength and potential continuation of the uptrend. Volume Spike : A noticeable increase in volumes suggests strong market participation, further supporting the breakout. Target - 65 // 75 Stoploss - daily close below 45 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:RENUKALong
by Visionary_Growth_Insights
2
M&T Bank Corporation: Riding the Bullish WaveM&T Bank Corporation: Riding the Bullish Wave - M&T Bank Corporation (NYSE: MTB) Technical Analysis H ello, 1 Introduction Headquartered in Buffalo, New York, M&T Bank Corporation is a regional bank operating in the United States. While M&T is headquartered in New York, it has a significant presence in the state of Maryland and in several of the mid-Atlantic states. It was founded in 1856 as the "Manufacturers and Traders Bank." Over the years, it has changed and expanded its name and reach but has kept its main office in Buffalo. A "community banking" philosophy directs its operation of more than 700 bank branches across 12 states and the District of Columbia. 2 Current Price The most recent figures put M&T Bank Corporation’s stock at $185.19. In the face of a jittery market, the stock has been steady—although, to be sure, we are coming up on a few weeks when the price has not moved much at all. Yet this level reflects what I would say is a pretty strong dose of investor confidence in the bank's growth in earnings, not just in the immediate future but also over the next several quarters. 3 Moving Averages 5-day Moving Average: $182.50 20-day Moving Average: $180.00 50-day Moving Average: $175.00 200-day Moving Average: $165.00 The price is currently above the 5-day, 20-day, and 50-day moving averages, indicating a strong short-term bullish trend. Additionally, the price being significantly above the 200-day moving average suggests long-term investor confidence. Historically, the stock has shown a tendency to bounce back from support levels, aligning with current technical signals pointing towards continued strength. 4 Technical Indicators Relative Strength Index (RSI): 60 (Neutral to Bullish) – The RSI at 60 indicates that while the stock is not yet overbought, it is approaching higher levels where caution may be necessary. RSI values between 60-70 typically suggest strong upward momentum but may also signal a need to watch for overextension. MACD (Moving Average Convergence Divergence): 3.0 (Bullish) – A positive MACD suggests upward momentum, supported by increasing buy signals. The MACD line crossing above the signal line indicates potential for continued price gains. Stochastic Oscillator: 75 (Overbought) – The oscillator shows that the stock is nearing overbought territory. With a reading above 70, investors should be aware of the possibility of a short-term pullback, though the overall trend remains upward. The combination of these indicators points to a solid bullish stance, though the overbought reading on the Stochastic Oscillator advises traders to be cautious of potential corrections in the near term. 5 Chart Patterns Candlestick Patterns: Recent patterns show a mix of bullish engulfing and doji, suggesting indecision in the market but with a slight bullish bias. The bullish engulfing pattern indicates strong buying pressure, while the doji reflects a potential hesitation among traders, which could result in consolidation or a reversal if a clear direction is not established soon. Support Levels: $180.00, $175.00 – These levels have historically acted as strong support zones, offering potential buying opportunities for investors seeking to enter at lower risk points. Resistance Levels: $190.00, $195.00 – The stock faces resistance at these levels, where selling pressure may increase. A breakout above $195.00 could open the path to higher price levels, potentially pushing the stock into new highs for the year. Notably, the consolidation of recent price action near key resistance levels suggests that a breakout, if it occurs, could trigger significant upward momentum. However, failure to break these levels may result in a retracement towards support. 6 Volume and Liquidity Recent trading volumes have been above average, which supports the upward trend. The higher volume, particularly during price increases, reflects increasing investor interest and confidence in the stock. The liquidity of M&T Bank Corporation is robust, allowing for large trades to be executed without significantly affecting the stock price. This makes it an attractive option for both retail and institutional investors. 7 Industry and Market Sentiment With interest rates stabilizing and the overall economy in better shape, we have seen a recovery in the financial sector. M&T is a regional bank, and as such, it has a pretty good setting from which to benefit as rates continue to rise—something we're anticipating. Most regional banks—even M&T in particular—have a pretty nice net interest margin between what they pay depositors and what they earn from loans when rates rise. And when you have a bank like M&T that has a pretty nice net interest margin, it also has very stable earnings, largely because it is a community-focused bank that lends to small and mid-sized businesses—who also have, by the way, relatively low default rates on the whole. 8 Conclusion Currently, M&T Bank Corporation's stock is in a tremendously solid short-term uptrend, with several important indicators suggesting a "buy" recommendation. But the stock is starting to approach "overbought" territory, which means it could be setting up to either go sideways for a while or pull back. Good support levels to look for should this happen are around $180.00 and $175.00. If you're an investor looking for an entry point in the stock, those would be tempting prices at which to buy. On the other hand, if the stock can push and hold above $190.00, we could start to talk about a potential target of $195.00. Regards, Ely
NYSE:MTBLong
by Elysian_Mind
Avoiding the Pump and Dump: A Beginner's GuideAvoiding the Pump and Dump: A Beginner's Guide to Protecting Your Investments In the dynamic world of stock trading, new traders are constantly seeking ways to maximize profits and minimize risks. Unfortunately, one of the most deceptive and harmful schemes that can easily trap beginners is the infamous pump and dump scheme. This fraudulent practice has been around for decades, targeting unsuspecting traders by artificially inflating a stock's price and then swiftly cashing out, leaving the victims with significant losses. For traders on platforms like TradingView, especially those just starting, it’s crucial to understand how to spot these schemes and avoid falling prey to them. This guide will provide you with the knowledge you need to recognize pump and dump schemes by analyzing monthly, weekly, and daily charts, identifying repetitive patterns, and understanding market sentiment. By the end, you'll know exactly what to look for to safeguard your investments. What is a Pump and Dump? A pump and dump scheme occurs when a group of individuals, often coordinated through social media or private channels, artificially inflates the price of a stock. They "pump" up the stock by spreading misleading information or creating hype around the asset, leading to increased buying interest. Once the stock price has risen significantly, the perpetrators "dump" their shares at the elevated price, leaving uninformed buyers holding a stock that will soon plummet in value. The key elements to watch out for are: Unusual price spikes without any corresponding fundamental news. High trading volume during these spikes, suggesting that a group of individuals is actively manipulating the price. Aggressive promotion through emails, forums, or social media channels, often making exaggerated claims about a stock's potential. Understanding Timeframes: Monthly, Weekly, and Daily Charts One of the most effective ways to spot pump and dump schemes is by analyzing various timeframes—monthly, weekly, and daily charts. Each timeframe provides different insights into the stock's behavior, helping you detect irregular patterns and red flags. Monthly Charts: The Big Picture Monthly charts give you a broad overview of a stock's long-term trends. If you notice a stock that has been relatively inactive or stagnant for months, only to suddenly surge without any substantial news or developments, this could be a sign of manipulation . What to look for in monthly charts: Sudden spikes in price after a prolonged period of flat or declining movement. Sharp volume increases during the price rise, especially when the stock has previously shown little to no trading activity. Quick reversals following the price surge, indicating that the pump has occurred, and the dump is on its way. For example, if a stock shows consistent low trading volume and then experiences a sudden burst in both volume and price, this is a classic sign of a pump. Compare these periods with any news releases or market updates. If there’s no justifiable reason for the spike, be cautious . Weekly Charts: Spotting the Mid-Term Trend Weekly charts help you see the mid-term trends and can reveal the progression of a pump and dump scheme. Often, the "pump" phase will be drawn out over several days or weeks as the schemers build momentum and attract more buyers. What to look for in weekly charts: Gradual upward trends followed by a sharp, unsustainable rise in price. Repeated surges in volume that don’t correlate with any fundamental analysis or positive news. Recurrent patterns where a stock has previously been pumped, experienced a sharp decline, and is now showing the same pattern again. Stocks used in pump and dump schemes are often cycled through multiple rounds of pumping, so if you notice that a stock has undergone several similar spikes and drops over the weeks, it’s a strong indicator that the stock is being manipulated. Daily Charts: Catching the Pump Before the Dump Daily charts provide a more granular view of a stock's price movement, and they can help you detect the exact moments when a pump is taking place. Because pump and dump schemes can happen over just a few days, monitoring daily activity is critical. What to look for in daily charts: Intraday price spikes that happen suddenly and without any preceding buildup in momentum. A huge increase in volume followed by rapid price drops within the same or subsequent days. Exaggerated price gaps at market open or close, indicating manipulation during off-hours or lower-volume periods. On a daily chart, if a stock opens significantly higher than the previous day's close without any news or earnings report to back it up, this could be the start of the dump phase. The manipulators are looking to sell their shares to anyone who has bought into the hype, leaving retail traders holding the bag. Repeated Use of the Same Quote: A Telltale Sign of a Pump and Dump Scheme Another red flag is when the same stock or "hot tip" keeps resurfacing in social media, forums, or emails. If you notice that the same quote or recommendation is being promoted repeatedly over time, often using the same language, this is a strong sign of manipulation. The scammers are likely trying to pump the stock multiple times by reusing the same tactics on new, unsuspecting traders. Be cautious of stocks that: Have been heavily promoted in the past. Show a history of sudden spikes followed by rapid declines. Are promoted with vague, overhyped language like "the next big thing" or "guaranteed gains." If the same stock is mentioned multiple times in trading communities, check its historical chart. If the stock has undergone previous pumps, you will likely see sharp rises and falls that align with the promotional periods. How to Avoid Pump and Dump Schemes Now that you know how to spot the signs, here are actionable steps you can take to protect yourself from becoming a victim of a pump and dump scheme: Do Your Research: Always verify the information you receive about a stock. Check if there’s legitimate news, earnings reports, or significant company developments that justify the price movement. Avoid relying solely on social media or forums for your stock tips. Look at Fundamentals: Focus on stocks with solid fundamentals, such as earnings growth, revenue increases, and strong management. Stocks targeted for pump and dump schemes often have weak or non-existent fundamentals. Use Multiple Timeframes: As we've discussed, examining stocks across different timeframes—monthly, weekly, and daily—can help you spot abnormal price behavior early on. Monitor Volume and Price Movements: If you see large, unexplained surges in volume and price, be skeptical. Legitimate price increases are usually accompanied by news or fundamental changes in the company. Avoid Low-Volume Stocks: Pump and dump schemes often target low-volume, illiquid stocks that are easier to manipulate. Stick to stocks with healthy trading volumes and liquidity. Set Stop Losses: Always use stop losses to protect yourself from sudden price drops. Setting a stop loss at a reasonable level can help limit your losses if you accidentally invest in a stock being manipulated. Be Wary of Promotions: If a stock is being aggressively promoted, ask yourself why. More often than not, aggressive promotions are a sign that the stock is part of a pump and dump scheme. Conclusion Pump and dump schemes prey on traders’ fear of missing out ( FOMO ) and the allure of quick profits . However, by using a disciplined approach to trading, analyzing charts across multiple timeframes, and paying close attention to volume and price movements, you can avoid falling victim to these schemes. Remember: If something seems too good to be true, it probably is. Protect your investments by staying informed, doing thorough research, and trusting your analysis. By following these guidelines, you can navigate the markets with confidence and avoid the pitfalls of pump and dump schemes. Happy trading, and stay safe!
Editors' picks
EEducation
by TradeVizion
6
Gold price increased sharply, reaching 2650 USDGold prices made an impressive reversal today, rising more than $25 to $2,635, after six consecutive sessions in the red. The recovery came on Thursday, as investors began to adjust their strategies based on a series of important economic data from the US. The CPI report showed signs of cooling inflation, while employment data reflected a weakening labor market. These signals have reinforced the belief that the Fed is on the right track in adjusting monetary policy. This is the factor that helped gold prices rebound, as investors saw a less tense economic environment, supporting safe havens like gold. With positive signals from the economy and confidence in the Fed's policies, gold is returning to an upward trend, opening up attractive opportunities for investors.
OANDA:XAUUSDLong
by Bentradegold
Update latest gold price today.Gold prices continued to rise slightly on Tuesday as Treasury yields eased, while investors cautiously awaited more data for fresh clues on the Federal Reserve's easing cycle. The 10-year yield fell as the day's report showed a slowdown in manufacturing activity in New York state. Accordingly, bond yields are putting slight pressure on gold. However, the advantage is still tilted towards a sideways or higher scenario for gold in the short term, assuming that both bond yields and the USD will decline. In the current environment, I appreciate the surprising strength of this precious metal. Gold has not succumbed to the strength of the USD and Treasury yields, and the rally continues to be simmering.
OANDA:XAUUSDLong
by Bentradegold
GBPUSD Ben hello everyone! On the 1-hour chart, the downtrend continues. After losing momentum from 1.306, GBPUSD has continued to decline. With the market looking unfavorable and the Fed’s interest rate cut policy unclear, GU has lost value. The next target for the next decline is seen at 1.2950, ​​which is a strong psychological barrier. However, the possibility of a rebound cannot be ruled out if the bulls manage to push the price up from 1.2980 as mentioned on the chart.
Short
by Bentradegold
EURUSD continues downtrend below 1.0900Dear Friends, You may be wondering why the price has fallen so sharply. In international market news: - The US Dollar (USD) continued to appreciate, albeit modestly, encouraging the US Dollar Index (DXY) to maintain multi-week highs above 103.00. - Supporting the greenback's rally in recent weeks were the minutes of the Federal Open Market Committee (FOMC) meeting on September 18. The minutes showed that a "majority" of policymakers favored easing monetary policy with a 50 basis point cut, but did not commit the Federal Reserve to a specific timeline for future cuts. Results: - As both the Fed and the ECB consider additional interest rate moves, the EUR/USD outlook will depend on macroeconomic trends. The US economy is expected to outperform the Eurozone, potentially boosting the USD further. On technical analysis and gold price forecast for the coming period: - EURUSD has broken above the support level at 1.0892 and the price volume is below both the 34-day and 89-day exponential moving averages (EMA), suggesting a higher possibility of further declines. - Currently, EURUSD is trading near the resistance level of 1.0892, with immediate support at 1.0850.
Short
by Bentradegold
GBPUSD's decline has not stopped yetHello everyone, Conan! Today, the GBPUSD pair is maintaining a mild negative trend, trading at around 1.0544. After losing momentum from 1.3000, GBPUSD has continued to decline. The pair could continue to decline in the coming period, as the market reassesses the Bank of England (BoE) policy outlook following weak inflation data. The current support level is set at 1.2976, significant stops will accumulate below this figure and if triggered, the decline could accelerate towards 1.2950.
Short
by ConanTradingFX
1
EURUSD extends gains above 1.0850Conan, hello everyone! Currently, EURUSD is taking advantage of the upside opportunity from the strong support at 1.0852. It can be seen that the pair is cooling down and gradually opening up more upside opportunities. It is clear that EUR/USD is on a tear, falling to a multi-week low as the Euro continues to weaken ahead of the upcoming European Central Bank interest rate meeting on Thursday. However, the widely expected ECB rate cut of a quarter of a percentage point, or 25 bps, has eased some of the pressure on the pair. The price is currently trading around the 1.0862-1.0860 range and remains dependent on the price momentum of the US Dollar (USD). Resistance: 1.0876, 1.0905 Support: 1.0852, 1.0858
by ConanTradingFX
Gold price update: Price exceeds 2665 USDHello everyone! As Conan predicted earlier, gold did indeed take advantage of the $2,665 support level and broke above the nearest resistance level of $2,770. As a result, gold rallied and hit an earlier high of $2,685 before quickly correcting slightly but still maintaining its best uptrend in 2024. Currently, according to CME's FedWatch tool, traders are pricing in a 96% chance of a further 25 basis point cut in US interest rates at its November policy meeting. In addition, experts predict that the ECB is likely to cut rates again at its October 17 meeting. Likewise, expectations for a BoE rate cut at its meeting next month are gradually increasing as domestic inflation shows signs of slowing.
OANDA:XAUUSD
by ConanTradingFX
A profitable long trade on gold 15mn chartHello traders, as you can see from the chart, actually the weekly level was almost hit and.Take Profit was almost hit But because of the lack of the momentum.The trend started the move. The upper move started dying down because there was no more bullish momentum That led. That led to the.end of the the higher move, anyhow we were able to lock in some profits and the trade was pretty neat.Notice also that the move was starting from yesterday, not only today and strong momentum that took place since yesterday and the volume died down and the market started reversing This is a natural process that happens all the time in the markets after a long move and a long run, but at the end of the day.i am glad i was profitable
OANDA:XAUUSD
by YMtradingsystem
Total 2 MA200Regarding the prevues analysis which i shared with you guys , Total 2 is trying to reach out to MA200, i believe the reason it didn't hit it yet is because of Ethereum movement which its so slow and heavy, but it(ETHUSDT)has been hit the MA200 so we can expect the rest of the Alt Coins to start moving upward at least to their MA200 area. will update you again when i want to open the long position on the Alt coins that i am watching. cheers and have a successful trades with money management and risk management. Regards
CRYPTOCAP:TOTAL2Long
by omidghkh66