Not holdingIt broke a good support of 1.00 and is under pressure. Thursdays closing is bearish and more down side expected. Next support is at 0.895 and then 0.805 area. No trade as of now in aman unless it becomes bullish again. Never try to catch a falling knife!! let it change the momentum to bullish we will buy at good support level. For now bearish!
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Dubaifinancialmarket
Market in DowntrendHeavily selling pressure in thursdays session. Unfortunately market have broken a good psychological support level of 2200. A closing at 2194 is not good for sure. Next week market can retest the new resistance of 2200 and may get rejected to go down further till 2160 level as thats the next support. Bearish for now!!
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Very trickyWith todays candle emaar have confused us as a technical trader, It have made a new high but at the same time it have closed with red candle. Its always better to wait for a proper setup if we are confused we dont buy the stock. I will wait for another candle if tomorrow we can see a green candle it will help us to decide the trade and we can see it from a bullish perspective too.
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Power HouseFantastic performance today they disclosed financial results and it just exploded to the upside. Next target and resistance at 0.320 and support is at 0.300 tomorrow most likely it will open with a gap up as more buyers would want to enter the trade building buying pressure. If you want to enter the trade let it come back for profit booking when you see a bullish signal in lower time frame enter the trade. Very bullish now !!
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Can it break?It got rejected at the resistance that is 0.290, i think it will break as it have made a base at the support level and now its pushing to the upside. Once it closes above 0.290 it will make very wild move to the upside as more buyers will get accumulated. As of now just stalk this one and enter once it closes above 0.290. Its looking bullish but now we waiting for a confirmation.
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More down?Finally after consolidating for so many days it broke to the down side a good support got broken today. I can see more downside from here it looks very bearish. It can retest the same level again that is around 1.00 and get rejected to push it to the downside. Bearish for now!!
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Got RejectedInverted hammer right at the resistance level is a clear indication of rejection. Tomorrow there are good chances it may retrace to the downside, if it makes some prices action and keep above 2230 level surely it will break 2240 very soon. Else more down side expected.
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Perfect BounceClearly we can safely say that 2.65 is a good support and its holding. The gap seems to be filling now and 2.71 seems to be a resistance but i think in tomorrows session it can break think and touch 2.75 Once it crosses 2.85 that is a strong resistance emaar will be very bullish again and it will touch 3.00
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Rejection!!After a inside day candle stock pattern it broke to the upside but today it got rejected at 0.579 i was expecting more upside but bulls lost the steam. Strong support at 0.570 if it holds and takes a bounce from this level i will enter the trade for a target of 0.595 and 0.610 respectively.
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Nice BreakoutDeyaar have given a nice breakout after making some price action at the support level mostly this breakout cannot be a fake as it have spend good time at support level and then it have made a big move. I think more upside expected tomorrow. Change in momentum is seen bulls are active more upside expected.Bullish
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Whos Buying it??Support level of 2.65 is holding as of now. Something to notice here is it was struggling to cross 2.65 during the trading hours but in trade at last that is last 5 mins it jumped and closed at 2.67 so who bought this ? Sure we can say that big boys found this price attractive and entered the market pushing the price to the upside. If we can see a close above 2.70 tomorrow we can confirm the shift in the momentum and it will be good chance to enter the trade. Why market changes is last 5 mins?? "MARKET IS OPENED BY AMATEURS AND CLOSED BY PROFESSIONALS "
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As per the plan If you are following my analysis i did mention it have made a inside day candle, to trade this one we have to wait for a breakout to either side and in todays session we saw a breakout to the upside and i think its good for a trade. First target at 0.580 second at 0.595.
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Perfect BounceIt have taken a bounce from a important support level we can see a nice sold green candle closing indicating buyers have got activated at this level. I think journey till 0.285 looks safe i have entered at 0.265 with a stop loss of 0.260 and target is obviously 0.285. In a downtrend but i have taken a trade based on support level. Quick entry and quick exit in play!!
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Support HoldingIts been at the support for almost a week now but still no confirmation if this will hold, real estate sector is under pressure as of now so its better to trade with trend. I am waiting for a change in direction and enter at confirmation. A close above 0.285 will be good see a market in different way. Lets see this week if it can perform. In a down trend as of now at support. Keep stalking!!
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Some Relief Finally market have bounced off!! but have the new trend started? NO!! it have just shown us some indication that 2200 level is holding. There are 2 scenarios from here, first market goes up to the previous support level that was around 2240 which will now act as a strong resistance if it passes through successfully and moves upside we can say uptrend have begun again.
Second Scenario, it can retest 2240 get rejected and come down to 2100 - 2120 level. SCARY!!!
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2 ScenariosI was expecting it to come much lower and take a bounce from the support area but in last session it have made a inside day candle. I can see 2 scenarios from here first is it may now come further down and start trending to the upside and second is it may come down further to test the support level and take a bounce to the upside and meet the first resistance at 0.595. As of now in a down trend.
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Deyaar Push Up!!Its still struggling and making some price action right at the support level, I am stalking this one since so long but its almost dead. I will not enter the trade till i see it crossing .290 which will indicate a shift in the trend. Lets see how it performs this week. Bearish as of now.
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AAN Will Support Hold?Its at a support area now 0.160 if it takes a bounce next target should be around 0.180, scenario 2 if it does not hold it may come back to 0.155-53 level. Over all in a uptrend lets see if it can sustain it.
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In A RangeIts taken a bounce from a support level i was expecting it to come around 1.00 but it touched 1.05 and moved up. We can say its in a range. In sundays session if it crosses 1.07 it will be a good buy opportunity and first target should be 1.15. Over all its bullish and now in a range.
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Looks Very WeakLast week market started to free fall and in thursdays session we have seen a doji candle right at the support level will it hold? dont know yet we dont have any confirmation. Short term trend is to the down side its possible that market can go up to 2240 and get a rejection to come back again at the same level. Market Sentiments are negative as of now also people are eagerly waiting for the new of ARTC yes if the come up with something positive we can say market will take a good bounce. As of now bearish!!
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Looks Very ScaryHard times ahead guys ! it retest the previous support level which is now acting is resistance. I see more down side first support around 2200 next 2160 next 2100. Why is this happening? international markets in green and flying high why dfm is bleeding. Is it because of artc? or quarterly results that will be soon announced? bearish for now!!
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