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Candlestick Analysis

Superb weekly closing with Bullish Engulfing candle by Nifty. Superb weekly closing at 23508 with a closing above 50 Weeks EMA (Mother line) which was at 23423. This came along with Bullish Engulfing candle by Nifty now all eyes on Nirmalaji (Indian FM) to deliver a great budget and turnaround this bullish candle into a proper Bull rally. Now the only thing that can stop us and fizzle the rally would be a dank budget. Supports for Nifty remain at 23136 and 22838. Below 22838 the rally can fizzle out into the bear territory again. In such a scenario Bears can drag Nifty further down to 22316, 21869. Below 21869 major support will be near 200 Weeks EMA at 19578. Historical resistances for Nifty based on previous Peaks and Valleys can be at 23883 (Trend line resistance), 24281 and 24904. After getting a closing above 24904 market can think of regaining 25K or even 26K levels. RSI is entering the Bull Zone as well with closing this week at 45.60. RSI Resistance is at 47.49 that is something to look at. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
NZDSGD - In a Clear Support Zone - Buying Opportunity Ahead?OANDA:NZDSGD is inside a key support zone that has previously acted as a strong demand level, leading to bullish momentum. The recent decline into this area suggests a potential opportunity for buyers to step in. A bullish confirmation, such as a strong rejection pattern, bullish engulfing candle, or long lower wick, would increase the likelihood of an upward move. If buyers regain control, the price may head toward the 0.76630 level. This setup indicates a potential short-term rebound within the broader market structure This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in. Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments. Best of luck , TrendDiva
Long
by TrendDiva
2
long eurusdMarket structure WEEKLY: bearish, bur right now, in my view, has to go higher in order to complete a retracement. DAILY: bearish and is in the premium (that's a bad thing). 4h: bullish, just made a short retracement and now a bullish CHoCH. 1h: has been bearish but just made a bullish BOS. So, 3 timeframes long, one short. Long confluences - rejection after touching the mid point of the body of previous week candle; -daily don't close below, neither inside the previous daily ob, but always above; -CHoCH on 4h; -BOS on 1h; (news driven) -after the up move was a clear liquidity run. Entry After 1 h BOS, the second bearish hourly candle is rejected from the inversed 1h OB (this shows weakness and also narrows the 1h imbalance). Also a 4h OB in this area I could have enter right when the inversed 1h ob was touched, but would have been a worse rr. And without making the story any longer, I have entered at 75% of 4h ob. Sl a bit below the low of the candle with 1h imbalance. There could have been 4 levels for my sl: 1 - low of the 1h imbalance; 2 - low of the candle with imbalance; 3 - the low of the 4h candle that has made the CHoCH on 4h; 4 - the absolute low (50% of previous Week's candle's body) For tp i use first 1h high
Long
by stoianovionut22