Market At Crucial LevelOver all market is bearish for now and its at a critical zone, there are 2 scenarios from here.
1) Market breaks the resistance levels of 3236.45,3282.50 & the major resistance of 3360. Market will struggle to break the resistances and come into BULL territory below 3360 market will be considered in Bear zone.
2) Market will go further down to retest 3120 which is a strong support area it can also go further down from here!!
Tomorrow I am expecting it to be a Big green day hopefully but nothing bullish about it. Quick entry & exits are recommended, take your profits home!!
Hit like & follow guys ;)
DFMGI trade ideas
DFM General Index is showing relative strength to Global marketsDFM:DFMGI is breaking out higher after lagging the global markets for a long time. The index is now targeting 3600 and remains bullish above 3300, however, pullbacks to 3200~3240 are acceptable.
Hit the like button please if you find this useful :)
This is only my own view and not financial advice, do your own analysis before buying or selling
Happy Trading!
Will it cross 5000 pointsIf you are a regular reader of my blogs you must have surely read my last analysis on Dubai Stock Market Index. Market is making new levels every week attracting international & local investors. Blue chip stocks like EmiratesNBD, Emaar Properties, Dubai Islamic Bank are in a strong uptrend and ready to go more higher. As of today 02/04/2022 Dubai Financial Market General Index is at 3536.65 and to add cherry on top by 12/04/2022 Dewa will be listed for trading. More weightage will be added to DFM Index it means more liquidity will be entering the market which is very positive.
I think DFMGI will soon be at 5000 points. Good time to invest in Dubai Stock Market
Will 20 Day EMA Help?Over all market index is still bullish, the solid uptrend of Dubai Financial Market is intact. After hitting the resistance of 3500 its in a correction mode also Russia & Ukraine adding up to the damage. For now its right at the 20 day EMA which is a dynamic support well honestly I am not worried if this support is broken as solid technical support is at 3330-3340 zone I am sure market will react positively.
Hit like & follow guys ;)
New HighToday market surprised us by making a new high in the time of "uncertainty" as the peace talks are progressing for now if the out come of the meeting is positive markets internationally will react positively with a big move. Dubai Stock Market is bullish ( Index ) some stocks are in down trend lets stay away from them and focus on positive stocks. Today index have made a new high and more upside is surely expected. Major resistance is at 3530 zone which will also be broken soon once news listings start joining the index. Bullish!!
Hit like & follow guys ;)
Still Hopes Are HighWe are seeing second bounce from the support zone hopefully this time it will gross the immediate resistance of 3240 and then 3300 respectively. Market is been slow these days with very low volumes and trades, I think market is waiting for some catalyst and then boom!! Tomorrow is last trading day of the week lets see how the market closes.
Hit like & follow guys ;)
Looks like Bear In ControlMarket is looking weak to me, i think market will break the support tomorrow most likely. The trend is still intact to the upside but weakness in the trend is now see. For now i will be very cautious if i have to buy any stock. So take your positions carefully.
Above 3240 Bull zone
Below 3100 Bear Zone
Hit like & follow guys ;)
Is It Chart Damage?Market index is being in this pattern for a while, the pattern is bullish its called ascending triangle pattern which occurs after a defined uptrend. With todays closing we can see first candle - doji of of this chart pattern so is this a manipulation? of the pattern is invalid now?
Well in my opinion nothing is perfect in this world and I think market is still bullish todays Doji candle is not very significant. We need more clarity on this may be a weekly closing will help us to decide. One thing is for sure that the breakout of this chart pattern will be very big. I am bullish bias so i am expecting a big breakout to the upper side of this triangle pattern. A solid green candle above 3300 level will confirm a breakout to the upside and we can expect market to cross 2500 soon.
Hit like & follow guys ;)
Long Term View - Bullish This is the monthly chart of DFM Index, market is in a healthy uptrend since April 2020 the best part is its moving up with small corrections and we dont see any parabolic moves. To continue a trend its always good that market corrects itself or come back to equilibrium to resume the primary trend. For now immediate hurdle for the market is to cross 3300 level. Next and major resistance is at 3650 level, market will not straight away climb up as usual we will have pull backs which will be seen as buying opportunities keeping in mind 2022 will see many IPO's and all are heavy weighted as these companies are govt. entities and will carry weightage on the index. Not to forget about RSI which is a momentum indicator for now its above 60 which also indicates the momentum is to the bullish side. I think 2022 will be very good for Dubai Stock Market and there are good chances that we may see new highs. Very good time to invest in DFM! over all very bullish I recommend everyone to invest in dubai, invest in uae this is the right time. Wishing you all a very happy new year!!!
Hit like & follow guys ;)
At a crucial levelMarket is at a crucial level for now, to be bullish market have to close above 3175 else market will be under more pressure. Looking at the covid scenario more economies are implementing travel restrictions as cases are increasing rapidly around the world. Most likely markets will be under pressure till there is significant news about the vaccine or cases drop drastically. Its better to stay away from the market till the storm is settled.
Hit like & follow guys ; )
Rally of 250 points non stopMarket is been running for the last 250 points without taking any pause or break, its right at the resistance. It would be better if it takes some pause before breaking the resistance else there are good chances of a fake breakout. Overall market have completely recovered from the previous losses and its in a positive territory. We want to see a close above 2300 zone!! over all bullish mode:)
Hit like & follow guys ;)
One More Push Up?Market is still bullish and its again taking a small pause,i think there is a possibility of one more push up.Well incase the market fails immediate support is 3230 zone, if this does not hold next support is around 3145 to 3120 zone. But over all market is very bullish!!
Hit like & follow guys ;)
Get Ready For The RideAfter a massive run Dubai Stock Market Index is not taking some rest, so can we expect a bull run again? yes most likely we will see 3200 very soon as thats the next resistance area. Immediate support is at 3125 and 3100 respectively. Since the market is moving backed by fundamentals i am expecting more news coming out slowly which will push the market volumes and index as well...Market is surely bullish any dip is a buying opportunity.
Hit like & follow guys ;)