RELIANCE: Can get you GREAT RETURNS!RELIANCE INDUSTRIES is the King of the Indian Stock Market and everyone knows about what role Reliance plays in India.
RELIANCE Stock has been in a consolidation since more than 2 years and is now trying to Breakout.
Let us first know about its Basic Fundamentals.
Profits are rising every year which is the most important point.
Balance Sheet is growing year on year.
Reserves are more than Borrowings.
FIIs & DIIs have increased stakes in June Quarter.
Fundamental Score is 7/9
Why Fundamentals?
It is always safe to trade in Fundamentally good stock.
Now Next, Let us look on the Nifty Chart:
Nifty has corrected for 4% from high and meanwhile Reliance was consolidating at the top, preparing for a Breakout. Nifty's fall did not affect Reliance, and Reliance was quiet for some days. But now Nifty has tested its support and we can see a positive hammer candle at the support. This can be a positive news for some days as Nifty can retrace upside.
Now, Reliance is part of NIFTY ENERGY Sector and weighs 57% in NIFTY ENERGY.
Let us see NIFTY ENERGY SECTOR Chart:
NIFTY ENERGY Sector chart has given a Flag and Pole Breakout in Weekly Timeframe which shows that Energy Sector can be bullish for few months. It has taken support of 0.382 level of Fibonacci, which is a great support.
As we can see, Nifty and Nifty Energy Sector can be bullish for few weeks here on, we can find the stock that is also bullish and is a candidate of Breakout.
And so we find RELIANCE.
Overall Reliance was consolidating from long, and now is trying to give breakout. It has made a good Box Breakout type of pattern and making a simple price action near the breakout level, which means it is gaining some energy to blast off.
In past few weeks, Nifty corrected about 4%, but reliance did not show any weakness, which is another reason to select Reliance.
Some weeks ago, it gave a breakdown of the trendline but it was a fake move and now reliance has moved up, taking the StopLosses of all those who made a short position on the basis of trendline Breakdown.
Track Reliance in near term, as after breakout we can see a good upside possible.
Our First Target will be 2900!
Keep Reliance in your Watchlist!
Topdownanaylisis
NAS100$NAS100USD/QQQ are relatively the same pair and since that's the case i'm basing my bias off of the movement of the DXY which was bullish and is now becoming bearish.
When one goes up the other goes down and vice-versa.
I'm looking for NAS100 to move to the upside.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
EURUSD$EURUSD
EU made a short push to the upside but couldn't push pass 1.07492 breaker after CPI.
Since that's the case, I'm looking for EU to move to the downside.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
USDJPY$USDJPY It's been a crazy time in the world and in the markets.
UJ has dropped and now it's heading back to the upside.
I'm looking for price to reach 133.594 for starters before continuing on up.
Everyone have a safe and prosperous trading week.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
DXYPullback, we'll see what the market does upon it's opening.
DXY bias looks like it wants to continue to the downslide.
Now that the dust has settle from NFP i'm looking for a push to the downside in the coming week.
Everyone have a safe and enjoyable Sunday.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
NAS100$NAS100USD NFP had the markets in shambles and unclear of direction today 3/10/23.
Now that the dust has settle i'm looking for a push to the upside in the coming week.
Everyone have a safe and enjoyable weekend.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
US30$US30 NFP had the markets in shambles and unclear of direction today 3/10/23.
Now that the dust has settle i'm looking for a push to the upside in the coming week.
Everyone have a safe and enjoyable weekend.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
EURUSD$EURUSD After top down analysis i'm looking for EU to continue to the upside. DXY also retraced and is likely to continue to the downside.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
DXY$DXY After top down analysis i'm looking for DXY to continue to the downside after Fridays retracement.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
US30$US30 Looking for a move to the upside after a retracement Friday. DXY also retraced and is likely to continue to the downside.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
NAS100 $NQ1! After doing top down analysis i'm looking for a move to the downside after a retracement on Friday.
Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!!
Good luck and Happy trading!
UJ made a retracement. I'm looking for Bullish movement!After Top- Down analysis i'm looking for UJ to move to the upside.
This is not trading advice or a signal!
The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions.
Gold Top down analysis, what can we expect? Hey guys, im loving this video recording feature on Tradingview so far, much easier to explain ideas!
So i've done a top down analysis here, from the weekly down to trades im potentially looking to trade tomorrow and what we can potentially expect with CPI tomorrow!
Let me know your thoughts in the comments, thanks guys!