@vishal-HJm_Dktr5 Data does suggest one pullback for a continued rally
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❓❓ THE BIG QUESTION ❓❓
⚠️ ⚠️⚠️"What will happen tomorrow to Markets?"⚠️⚠️⚠️
Everyone I know predicts how the market will perform "Aaj toh lag raha upar jaayega"
This is a perfect recipe for Losing all your capital. 💰
Technical Analysis is a study of Price Action, Volume, and Trends. So, I won't predict how the market will perform tomorrow, but looking at the Daily chart of NIFTY50, I will make some observations and go about my day. 🎯🎯
🔴NIFTY50 VIEW🔴
The chart attached has been analyzed on a Daily TF and the indicators used are EMA10 and Stochastic RSI.
As we can see on the chart, Nifty is making a Hanging Man - this type of candlestick, if formed in an uptrend and at resistance, signals a reversal of the trend. Thus, the market can have a reversal in upcoming sessions.
Now, the question stays till where will the market reverse?
Here, the indicators help, and we can see that historically NIFTY50 has respected EMA10.
The market trades in line with EMA10, and when there is any deviation, the market reverses till the EMA10.
Thus, according to the data, the market should reverse to 17100 levels for a sustained rally.
Also, looking at the momentum indicator - Stochastic RSI, we can see that the market is in the overbought zone and the trend is falling, which is a bearish signal.
To learn more, keep following me!😄
#NIFTY50 #InvestmentIdeas
Aug 10 12:37 PM
@hari-BJkpH8Ra9 Hey, the Tf differs for the type of trade you wish to take, so analysis can be done on any tf, but doing it on Daily/Weekly is preferred as it gives good direction and shows the trend of the stock
Aug 9 1:48 AM
1 Like@neerajb Agreed
Aug 9 8:10 AM
Reputation: 1,390 • Aug 8 5:06 AM
⚠️⚠️⚠️ WILL SPICEJET DEFAULT?? ⚠️⚠️⚠️
Three Indian banks have classified loans to SpiceJet Ltd as "high risk," although the airline has not defaulted, according to people familiar with the situation, despite the airline's denial.
IDFC First Bank, Yes Bank, and Indian......read more
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@anthony-By4IsHueO I will try to explain to my best the rationale.😄
Aug 7 3:20 AM
1 Like@rahulbora thankyou, I am still learning please keep correcting me If I go wrong somewhere 😄
Aug 7 1:48 AM
@rahulbora Okay, so I took EMA10 because as EMA gives most recent price more weightage and I am of the view that 10 sessions (i.e. 2 weeks) movement shows better correlation to movement, one can also use EMA21, but I saw that price reverts back to EMA10 on a constant basis when I...
Aug 7 1:46 AM
@rahulbora I will keep check if you post anything like that! 😂😂
Aug 7 1:37 AM
You had me in first half, literally 😂😂😂
Aug 7 1:32 AM
@anthony-By4IsHueO Hey, I will post my analysis on Bank Nifty soon, keep looking out for that on my profile and keep suggesting if you wish to know about some other stocks 😄
Aug 7 1:10 AM
1 Like@paryush Thankyou😄
Aug 7 2:24 AM
Reputation: 1,390 • Aug 6 4:51 AM
❓❓ THE BIG QUESTION ❓❓
⚠️ ⚠️⚠️"What will happen tomorrow to Markets?"⚠️⚠️⚠️
Everyone I know predicts how the market will perform "Aaj toh lag raha upar jaayega"
This is a perfect recipe for Losing all your capital. 💰
Technical Analysis is a study of Price Action, Volume, an......read more
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Reputation: 1,390 • Aug 5 3:25 AM
🔴 Profile:
- Daawat (LT Foods) is the leading processor of rice and other specialty foods in India.
- The firm's brands include Daawat, Royal, Daawat Brown Rice, Ecolife, Devaaya, and Kari Kari.
- It is a leading partner of Sustainable Rice Platform......read more
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@neerajb Sorry its a long comment, I was preparing to make a post on the same though, keep following my Macro Economy thread to know better how market behaves. :)
Aug 5 6:16 AM
@neerajb See, in Technical Analysis or we can say Stock markets , there are 3 major assumptions - 1. Market moves in trends 2. Past repeats itself 3. Market discounts everything, so hike of 50bps was expected by everyone since a long time, so that information was already discount...
Aug 5 6:15 AM
@neerajb Trade deficit might have increased possibly due to weak rupees? as majority of GOI's payments are made in dollars. Correct me if I am wrong?
Aug 5 2:28 AM
Market wont react adversely to Indian Rate hike as 50bps is on expected lines anything over and above 50bps will be negative news and anything below that will be a positive news.
Aug 5 2:26 AM
The Little Book of Trading: Trend Following Strategy for Big Winnings this is also a good book for anyone wanting to learn about the psychology of trading - i guess its by Michael Coval. Its worth reading.
Aug 5 2:24 AM
1 Like@bale11 Yes and even the GOI is looking to increase their kitty through divestment so possibly (in 2023 or 2024 Budget month) they will sell some of their stakes in these PSUs unlocking major synergy for these companies.
Aug 4 3:36 AM
1 Like@NIKHILMAHESHWARI Ohh okay, Thankyou for clarifying :)
Aug 3 11:02 AM
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Disclaimer
The above analysis is for EDUCATIONAL PURPOSES ONLY. I should not be held responsible for any loss incurred from the BUY/SELL of the analyzed asset. Do consult your Financial Advisor before taking any trade.
