Banknifty Futures Chart is respecting the major channel but is also showing a short term weakness in order to trap bears - Expecting to Breach 46500 by monthly expiry.
Taking support from 200EMA and support zone (Monthly)
Pennant formation, potential downside as the momentum is decreasing
GOLD - With NFP data releasing soon, we might see another upward momentum in GOLD as the forecast data is below the prior, if the number drops below what is expected then GOLD probably should be back in trading in 2000s. If NFP is higher than expected then we can see a steep dive in GOLD. NFP - LOW - GOLD - HIGH NFP - HIGH - GOLD - LOW
With Daily consolidating above 200EMA and Monthly candle being a strong bullish engulfing. It is expected TSLA to rally.
Long for retracement, but looking for a break in a long standing trendline.
Given the market sentiments and a relatively large gap up, Nifty hasnt broken up from its All time high like its component BANKNIFTY . Disclaimer - This is just an idea, I will not be liable for any losses or gain caused due to this.
With US breaching debt ceiling, it can result in both either raising ceiling like previously and markets have already started pricing in, hence the rally in previous trading sessions. Or The markets haven't priced in the looming recession and hence a short trade idea.