Follow The Trend or Wait for Retracement...NSE:BAJAJ_AUTO trade at 10500. Support is at 9700 and Resistance at 10600.
P/E RATIO - 36.35 Industry P/E - 23.75
On the 23rd AUG Bajaj Auto give a Breakout above 10000 level. You can wait for Retracement otherwise Follow the Trend for Next Resistance at 11200-11500.
Chartanalysis
Chainlink: Take-off! LINK shot upward last week and was thus able to leave our turquoise Target Zone (between $8.20 and $10.90). We expect the turquoise wave 3 to lead above the resistance at $20.85. However, a renewed dive into our Zone within the internal substructure is quite conceivable in the short term, which is why we continue to keep it active.
Apple: Near the summitApple should be on the last meters of the turquoise wave B. As soon as the high is established, we expect a final sell-off. For the end of the corrective movement, we have added a magenta-colored Target Zone (between $192.02 and $172.34) to the chart. Investors could establish long positions there, with stops placed around 1% below the lower edge. With the low in place, we expect a rise above the resistance at $254.30. Should this level be broken earlier, our alternative scenario (34%) will come into play. This wave count sees the last local low as the low of the magenta wave alt.(2).
xauusdperfect short yesterday.. as expected. thank you all of you.. as we look at the chart gold created LL and bounced up back to retest 2497 to 2501 ob area.. as also we know that today is friday.. weekly is still up trend...!!
what are your thought on gold for today..?? short or long.?
let me know in the comment.
#NIFTY Intraday Support and Resistance Levels - 23/08/2024Flat opening expected in nifty in consolidation zone. Any strong rally only expected if nifty gives break of this 50-60 points consolidation zone. Expected bullish rally upto 25000+ only after breakout and sustain above 24850+ level. Downside possible below 24800 level.
[INTRADAY] #BANKNIFTY PE & CE Levels(23/08/2024)Today expected flat opening in banknifty near 51000 level. Due to yesterday's consolidation movements near 51000 no major changes in levels. Expected bullish rally of 400-500 points only if banknifty sustain above 51000 level. Downside expected if banknifty indicates strong reversal below 50950 level.
Bitcoin: Hello Again Bitcoin surged back above $60,000 yesterday evening and is thus trading at a price level that it has been trying to overcome for two weeks now. We primarily expect another setback into our green Target Zone (between $47,012 and $58,655) so that the low of the green wave 4 can be established there. Following this, the price should then turn around sustainably and rise above the all-time high of $73,808.
BTC Technical analysisIt looks like Bitcoin has formed a rising wedge pattern on the 2-hour chart, which typically indicates a potential bearish reversal. The pattern has already reached its second top, and the price seems to be breaking down from the wedge. The target for this breakdown could be around $56,000, which aligns with the support zone from earlier price action. The RSI is near overbought territory, suggesting that the momentum might be fading, and the MACD is showing early signs of a bearish crossover. Keep an eye on the volume to confirm this breakdown; if it picks up, we might see a sharper decline.
Fantom: Come Back!We primarily expect a return into our orange Target Zone (between $0.3220 and $0.1866) before the orange wave v and thus the green wave comes to an end. After that, a sustained rise above the resistance at $0.54 should occur. However, as the price had already approached the range, the technical minimum requirement for the correction low has already have been met. Should we now see a rise above the resistance at $0.54 (33% likely), we will thus have to see the price in the orange-colored wave alt.i.
Symmetrical Triangle Pattern in COALINDIAStock: COALINDIA
Timeframe: 1 Hour
Pattern: Symmetrical Triangle Breakout
Analysis:
Breakout: COALINDIA has given a breakout from a symmetrical triangle pattern.
Expectations: After this breakout, a bullish rally is anticipated.
Targets:
First Target: 542
Second Target: 555
Third Target: 570+
Stop Loss: Set at 520
Trading Strategy: Consider going long on COALINDIA, keeping a strict stop loss at 520.