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ready to breakThe chart for Bhartiya International (NSE) is a monthly timeframe chart. Let's break it down and analyze it step by step. ### General Observations: 1. Resistance Breakout: The price had previously formed a resistance around the **₹638 level**, which was tested multiple times between **2016 and 2018**. However, in those attempts, the price failed to break out. In **2024**, the price has decisively broken above this level. A breakout like this, especially on higher volume, suggests strong bullish momentum. 2. **Volume Analysis (Highlighted Circle)** There is a noticeable increase in volume at the beginning of 2024, right before the breakout, which is often a confirmation of a strong trend reversal. The increased volume shows that institutional or significant investor participation is present, supporting the upward movement. The subsequent monthly candles also show significant gains, supported by decent volume, which adds further confirmation to the bullish outlook. ### Candlestick Patterns: 1. **2024 Candles:** The latest candle (September 2024) is a strong bullish candle with no upper wick, indicating that bulls dominated the session, closing near the high of the month. Prior months in 2024 show a series of higher highs and higher lows, a classic uptrend pattern. 2. **Long-Term Trend:** The stock was in a prolonged downtrend or consolidation from **2018 to 2020**, followed by a recovery in **2021**. After some consolidation around the **₹337 level** (acting as previous resistance turned support), the stock began its upward movement starting around **late 2023**. ### Chart Patterns: 1. Cup and Handle Formation: There seems to be a potential **Cup and Handle** formation spanning from **2016 to 2023**: The price peaked in **2016** around **₹638**, followed by a prolonged correction down to **₹85** (forming the cup base) and eventually moving back up to the resistance level. The **handle** was relatively short and formed in early **2024**, leading to a breakout. This pattern is typically bullish and often leads to strong upward momentum post-breakout. ### Possible Targets: **Target 1 (Near-term):** After the breakout above ₹638, the next potential target can be projected using a Fibonacci extension or by measuring the height of the cup (from ₹85 to ₹638, i.e., approximately ₹553) and adding this to the breakout point. This gives a near-term target around **₹1200**. **Target 2 (Long-term):** If the breakout sustains and the stock continues its uptrend, we could see much higher levels in the longer term. A next major psychological level would be around **₹1500** or higher. ### Support Levels (Stop-Loss): **Immediate Support:** ₹638, the previous resistance, now acts as immediate support. If the price closes below this level on a monthly basis, it may signal weakness. **Major Support:** ₹337 is a strong support level that previously acted as resistance. In case of a significant market correction, this level could be tested. ### Summary: **Bullish Bias:** The stock has broken out of a long-term resistance supported by strong volume, indicating bullish momentum. - **Target:** near-term target could be around ₹1200, with potential for even higher levels over the long term. - **Stop-Loss:** A conservative stop-loss can be set just below ₹638, or for a larger safety margin, below ₹337. This stock seems to be in the early stages of a breakout, and the chart is giving clear bullish signals. However, regular monitoring is required, especially for potential corrections or changes in market conditions.
NSE:BILLong
by investigationofchart
GOLD ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between support and resistance between two weighted levels for a test and break on either Goldturn to confirm the next level. We have resistance at 2051 for a immediate bullish target and 2036, as our bearish retracement target. We will see price range between these levels until one breaks and locks to confirm the next range. A bearish test to support at 2036 and a break and lock below this level will open the swing range. However, support here and we are likely to see a test at 2051 Goldturn. A cross and lock above 2051 will open the range above. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week for the past 18 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGETS 2051 EMA5 CROSS AND LOCK ABOVE 2051 WILL OPEN THE FOLLOWING BULLISH TARGET 2063 2074 BEARISH TARGETS 2036 EMA5 CROSS AND LOCK BELOW 2036 WILL OPEN THE SWING RANGE 2020 2005 EMA5 CROSS AND LOCK BELOW SWING RANGE WILL OPEN THE SUPPORT STRUCTURE As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX Mr Gold
OANDA:XAUUSD
by Goldviewfx
2
Ethereum - in 3rd quarter - SHORTI use the wave structure and SMC method to make a judgment of ETH in the third quarter of 2023 as follows: Currently, I see that ETH price has moved from an Rally Phase to a Drop Phase and has retested the target price area with GAP at 20xx. In the 3rd quarter of 2023, the market does not have much good support news for Crypto, I am taking a short-term view for ETH possibly towards the target price area 172x-174x . the next price area is 165x . And the extreme value area is 1400 (in this case, BTC price can drop below 25k and on way to fill the GAP of CME's BTC1 Chart). To sum up, I am giving a view of ETH as going down sharply in the third quarter of 2023. This is my personal opinion and is based on my experience in trading with Smart Money Concepts trading strategy and wave structure. I look forward to receiving your comments with this idea of mine
Short
by khahan18
8
Forex Market Analysis And Trading Tips - USDCAD 15th Feb 2016RECOMMENDATION: SELL SUMMARY: The secondary trend of USD/CAD is bearish on charts and price is trading below the trend line in its daily chart. In daily chart the price is sustaining above 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4100 and support at the level of 1.3640. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair. INDICATORS:- MACD is sustaining in its negative territory indicating the bearish trend in the pair. RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair. STRATEGY: USD/CAD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it. All the best and happy trading! www.tradingsignalreviews.com
Short
by piponomics
Forex Market Analysis and Trading Tips - 12th Feb 2016 - AUD/USDGreat spot to be in guys... SUMMARY: The secondary trend of AUD/USD is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7152 and support at the level of 0.7065. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair. INDICATORS:- MACD is sustaining in its positive territory indicating the bullish trend in the pair. RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair. STRATEGY: AUD/USD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it. As usual, let me know how you get on and if you have any questions! All the best and happy trading! www.tradingsignalreviews.com
Long
by piponomics
Forex Market Analysis and Trading Tips - USDCADSUMMARY: The secondary trend of USD/CAD is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.3997 and support at the level of 1.3883. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair. INDICATORS:- MACD is sustaining in its positive territory indicating the bullish trend in the pair. RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair. STRATEGY: USD/CAD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it. www.tradingsignalreviews.com
Long
by piponomics
1
Daily Market Report - USD/JPY - 10th Feb 2016USD/JPY Japanese Yen sustain advance against most counterparts on safe-haven demand after global equity drop on Global Economy growth concern Market managed to break below 115.50 zone which add more pressure to sustain advance toward first target 113.60 As short-run sustain trades below 116.00-50 resistance zone expect farther drop toward 113.60 Mid-Run: market showing strong bearish signals after breaking below uptrend channel which may lead the mid-run toward farther drop toward 106.60 www.tradingsignalreviews.com
Short
by piponomics
3
Forex Market Analysis and Trading Tips 9th Feb 2016 SUMMARY: The secondary trend of USD/CAD is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.3980 and support at the level of 1.3840. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair. INDICATORS:- MACD is sustaining in its positive territory indicating the bullish trend in the pair. RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair. STRATEGY: USD/CAD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it. www.tradingsignalreviews.com
Short
by piponomics
2
Forex Market Analysis And Trading Tips Sorry guys....... the USD/JPY went horribly wrong, let me make up for it with this one! The primary trend of USD/CHF is bearish on charts and price is trading below the trend line in its hourly chart. In four hourly chart the price is sustaining below 200 day SMA and below resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 0.98250 and support at the level of 1.0000. If it breaks its resistance level on the downside and sustains below it then we can expect it to show further bearish movement in the pair. INDICATORS:- MACD is sustaining in its negative zone indicating the bearish trend in the pair. RSI is sustaining near its selling zone indicating the upcoming bullish trend in the pair. STRATEGY: USD/CHF is looking bearish on charts for next few trading session. One can go for sell on lower level strategy for this pair for intra day to mid term positions in it. www.tradingsignalreviews.com
Short
by piponomics
100 - 200 Pip Opportunity - EUR/USD Long - 05/02/2016100 - 200 Pip Opportunity - EUR/USD Long - 05/02/2016 The primary trend of EUR/USD is bullish on charts and price is trading above the trend line in its daily chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.12750 and support at the level of 1.12232. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair. EUR/USD RECOMMENDATION BUY TARGET 1.12750 The Major trend of Euro it is showing strength for buying If it crosses the resistance level then one can initiate buying position in the pair . If it crosses the level of 1.12689 then it can test level for the target of 1.13000 with second target at 1.1430 with the stop loss 1.1175. CHART FORMATION:- Euro is trading in a range and trading near the trend line. Breaking the support line will lead to upside movement. Eur is trading above the 50 DMA with a negative bias. INDICATORS:- RSI is trading near to 65 levels with a positive bias, in upcoming session upside movement is expected. MACD and Signal line is sustained above the zero level line. www.tradingsignalreviews.com
Long
by piponomics
13
Today's Chart - GBP/USDPlease find the market trend of GBPUSD. Resistance is at 1.4446 if its break it will go bullish. Support is at 1.4395 if its break then will go bearish till 1.4325. - IMPORTANT NEWS TODAY: WED, FEB 03 12.00am NZD : RBNZ Governor Wheeler Speaks 12.30am AUD : Building Approvals m/m (Actual 9.2%, Forecast 4.8%, Previous -12.4%) AUD : Trade Balance (Actual -3.4B, Forecast -2.4B,, Previous -2.7B) 2.30am JPY : BOJ Governor Kuroda Speaks 9:30am GBP : Services PMI (Forecast 55.4, Previous 55.5) 1:15pm USD : ADP Non-Farm Employment Change (Forecast 193K, Previous 257K) 3:00pm USD : ISM Non-Manufacturing PMI (Forecast 55.1, Previous 55.3) 3:30pm USD : Crude Oil Inventories (Forecast 3.7M, Previous 8.7M) www.tradingsignalreviews.com
by piponomics
3