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Good recovery candle by Nifty but Mother line yet to give way. Nifty gave a good recovery candle but Mother line resistance and mid channel resistance are yet to be conquered. the zone between 25052 and 25332 will play as a strong resistance as it contains resistances like Mother line (50 days EMA) at 25052 , Mid channel resistance around 25148 and a resistance from previous peak from mid september which is around 25332. Once this zone is crossed Bulls will try to take the market to the next levels which are 25481, 25657, 25992 and 26K+ again. The supports for Nifty remain at 24677, 24470, 24216 (channel Bottom support), 23942 and finally 200 days EMA or the Father line support at 23274. Below 23274 is all Bear territory. As we had indicated the market looked oversold yesterday there was a chance of short covering which happened today. Confirmation candle above 50 EMA tomorrow or later in the week will be an icing on the cake from where actual recovery can start. The candle formation today was similar to Bullish Harami pattern. (Harami in Japanese means Pregnant woman). Bullish Harami indicates shadow of the candle to be positive. The pattern can get confirmation only if the bullishness continues tomorrow and we have a positive closing of the week. Disclaimer: 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. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. 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.
NSE:NIFTY
by Happy_Candles_Investment
BTCUSD Midweek Outlook—Pump to 65K Likely with Small Dump RiskGM crypto bro's, this morning, the Fear and Greed Index is neutral at 49, while the Stoch RSI has started to exit the oversold area. Yesterday's candle (07/10) touched 64K but dropped back to 62K this morning. What’s next for BTC? Based on price action, there's a high probability for another pump up to 65K. Though a deeper dump is possible, I personally think the pump probability is higher. The market is dynamic—don’t get FOMO. Always manage your risk, and as always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
Nifty again finds itself at make or break level. Mother father supports drawn on hourly candle are gone. Mid channel support is just breached. Shadow of the candle is negative. RSI finds itself at critical level in a pennant. Nifty is still oversold territory in the hourly chart. When everything seems lost we wait for the confirmation that Nifty can give about it's temporary bottom. The support for nifty as of now seem at 24667 Bollinger band bottom support, 24470, 24216 and finally 23942 level. Resistances for Nifty are at 24935, 25147, 25574 and finally 25740. The recovery might be around the corner we can expect a turnaround but probably towards mid-week, weekend or next week.
NSE:NIFTY
by Happy_Candles_Investment
S&P bulls maintain control but no initiative yetLast week was characterized by controlled selling, with prices drifting down slowly as the market awaited the unemployment data released on Friday. As we can see on the daily chart, sellers were unable to close the day below the previous day's low, even after a significant sell-off on Tuesday. Once the unemployment data was published, alleviating concerns about a potential recession, the bulls regained control, and the week closed on a positive note. The next key objective for buyers is to break through the resistance around 574.7 . Given that this level has been retested multiple times, it's unlikely to hold. However, we still need to closely monitor the price's reaction to this level and observe what happens immediately after the breakout. The long-term outlook remains bullish. In the short term, there is still a high possibility that prices will continue consolidating within the 565–575 range , as the market remains influenced by political uncertainty in the U.S.
AMEX:SPY
by hermes_trisme
Nifty Short, Medium & Long Term : 07-Oct-24 to 11-Oct-24Nifty Short, Medium & Long Term : 07-Oct-24 to 11-Oct-24 Nifty closed at 25014 ( Last Week 26179 ) and touched low & high of 25839-26285 ( all time high) Market saw a drop of 4.5% last week due to concern on Middle East War Situation. Market touched new high 2 weeks before , and touched all time high of Mid Term Resistance 26260 Nifty Bank 51462 ( 53834), touched the target of 54000 as proposed 2 months before (54400 all time high) and support at 49900. Buy on dips. Fed Rate Cut by 0.5% made the global market up and triggered increase in Indian Market in sep. FPI invested 4 Billion $ in Sep and pulled out 3.5 Billion $ in 3 trading session in Oct. US President Election result scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. RBI in India expected to reduce rate from end of this year. RSI ,macd and stochastics levels are down. Caution to be emphasized as Stochastics at overbought level. Q2 results awaited which will pave way for more clearer path in market. Nifty 25014 Short term ( Short Term : Down) Nifty short term resistance 25675 & 26000 trend line resistance as shown in chart. Support at 24814 ( 0.618 Fib Retracement) Medium Term next target is 26266 & if move up decisively above next target is 27000 Medium term Support 24650 (Trend line support and Fib Resistance), 24480 (Fib Support) and 24000. Long Term : Nifty have a target of 28190 ( Fibonacci Resistance). Support at 22800 US started reducting fed rate as expected in Sep 2024, expected it shall continue in reduction of interest rate in next year. Caution was emphasized on Nifty for last 3 months as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as CAMS, UTI AMC , HDFC AMC, Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon, ICICI Bank, HDFC Bank Indian Bank & Punjab National Bank. Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Based on the Q1 results, following stocks can be added to portfolio: There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 41912 (42312) indices dipped slightly, NIfty IT is less than SMA 21 level, need clear direction and Q2 results will pave way for the clear direction.
NSE:NIFTY
by karthikss
BTCUSD Weekend Outlook—Targeting 64K with Potential Drop to 59KGM crypto bro's, happy weekend! This morning, the Fear and Greed Index remains neutral at 50, while the Stoch RSI is slowly exiting the oversold zone. Today’s market outlook is similar to yesterday’s, with a target of 64K, though there is still potential for another drop, possibly back to the 59K area. The market is dynamic—don’t get FOMO. Always manage your risk, and as always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
BTCUSD Reclaims 62K with Bullish Signs—Potential to Reach 64KGM crypto bro's, this morning the Fear and Greed Index has increased, moving out of the fear zone and into neutral at 49. Meanwhile, the Stoch RSI is signaling potential upward movement. BTC has reclaimed the 62K area as I mentioned in yesterday's update, and the bullish price action seen this weekend may increase the probability of BTC reaching the 64K range. The market is dynamic—don’t get FOMO. Always manage your risk, and as always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
BTCUSD Struggles Amid Fear—Downtrend Continues ?GM crypto bro's, this morning BTC continues its decline, with the Fear and Greed Index now sitting at 41 in the fear zone, and the Stoch RSI still in the oversold area. Looking at the price action on the H4 timeframe, there’s a small chance BTC could reclaim the 62K area, but the probability of further decline to 59K is higher. With the weekend approaching, we can expect low volume in the market. The market is dynamic—don’t get FOMO. Always manage your risk, and as always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
BTCUSD Approaching Accumulation Zone – Fear Dominates, Oversold GM crypto bro's, this morning the Fear and Greed Index remains in the fear zone, sitting at 37, and the Stoch RSI has entered the oversold area. The candle close on the 2nd has not managed to break above 62K. However, this doesn’t mean the potential for 69K is off the table. Given the price action and the current Fear and Greed Index, now might be a good time for accumulating more Bitcoin. The market is dynamic—don’t get FOMO. Always manage your risk, and as always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
BTCUSD October Fear Zone – Is 69K Still on the Horizon?GM crypto bro's, finally BTC corrected to the range I've been reminding you about for days now, dipping as low as 60K, and currently, the price is sitting at 61,163. The Fear and Greed Index has dropped into the fear zone at 42, accompanied by the Stoch RSI entering the oversold area. What's next for BTC? If today's candle closes above 62K, there's a strong potential for 69K to become the next target. However, if the price fails to close above that range, we might see another drop to 59K. As I remind you daily, the market is dynamic—don’t get FOMO. Always maintain your risk, and as always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
Bitcoin fail Septembull, Drop or Just a Setup for the Next Pump?GM crypto bro's, today BTC's monthly candle closed without achieving a Septembull, showing instead a tendency for further correction. The Fear and Greed Index is at 50, along with a significant drop in the Stoch RSI. As mentioned in previous updates, there is still a potential correction down to the 60K - 59K range. BTC currently sits at 63,538 with a strong bearish candle. Is the pump to 69K still possible? Yes, but I personally see only a 30% chance for that, while the probability of a correction to 61K - 59K is around 70%. Happy payday to those who got paid! Remember, the market is dynamic—don’t get FOMO. Keep buying more Bitcoin, maintain risk even though life is full of risks. A great sailor isn’t great because of a luxurious ship but because of their skill as the captain. As always, this is Akki signing off—one chart, one love. Have a nice day and stay SAFU.
INDEX:BTCUSD
by x_Akki
S&P sets new high but weakness is mountingLast week, the market traded within a narrow range, yet still managed to reach new highs. The bulls remain in control of both the daily and weekly timeframes, although I’m not entirely comfortable with the structure that has developed over the past five days. Most of the growth occurred during extended hours, while during regular trading hours, the market either remained in a tight range or moved downward. This structure is fragile and could easily break, though I’m not ready to call for shorts just yet. Firstly, it hasn’t broken. We're still in a bullish wave on the daily timeframe — in the past two weeks, none of the days have closed below the previous day's low. Secondly, even if the structure breaks, we should not expect significant follow-through, as the market remains very bullish. Here's a quick recap of the key points supporting the bullish thesis (you can find the rest in my previous review): 1. The Fed cut interest rates by 0.5 percentage points, which is positive for both the economy and the stock market for several reasons, such as cheaper borrowing costs. 2. The SPX has reached a new all-time high, which is highly bullish. 3. Both the weekly and daily charts show a strong uptrend. For the market to reverse, there would need to be a significant shift in sentiment, likely triggered by some fundamental event. From a technical standpoint, the uptrend remains intact as long as the bulls hold the previous major low ( 538 ). Until then, any "red" waves should be viewed as mere pullbacks within the broader upward movement.
AMEX:SPY
by hermes_trisme
BTCUSD Correction to 60K - Will September Close Bullish?GM crypto bro's, happy Monday! This morning, the Fear and Greed Index is sitting in the greed zone at 61, while the Stoch RSI remains overbought. BTC has started to show signs of correction from the 66K range. The potential correction area remains the same as mentioned in our previous updates, targeting the 60K - 59K range, or maybe it will only hit 61K. Keep in mind that tomorrow is the monthly closing candle for September. If BTC closes above 64,700, then we could consider this a Septembull finish. Remember, the market is dynamic—don’t get FOMO. Always be aware of correction possibilities because anything can happen. Always manage your risk. That’s all for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day, stay SAFU, and don’t forget—buy more Bitcoin.
INDEX:BTCUSD
by x_Akki
BTCUSD Holding 65K - Pump to 70K or Correction to 60K?GM crypto bro's, happy weekend! This morning, BTC is still holding in the 65K range with the Fear and Greed Index in the greed zone at 63, while the Stoch RSI remains in the overbought area just like yesterday. Today's market outlook is still the same—potential for an instant pump to 69K - 70K, but also the possibility of a dump down to the 60K - 59K range. So, keep staying safe out there! Remember, the market is dynamic—don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day and stay SAFU!
INDEX:BTCUSD
by x_Akki
BTCUSD Weekend Outlook - Greed Zone at 64, Correction or Pump?GM crypto bro's, happy weekend! This morning, the Fear and Greed Index is in the greed zone at 64, while the Stoch RSI has risen back to the overbought area. Today's market outlook remains similar to yesterday’s, with a potential correction around the 60K - 59K range, while the pump target is 69K - 70K. Considering it’s the weekend and nearing the end of the month, a correction is likely, especially with the Fear and Greed Index showing high greed at 64. Keep in mind, the market is dynamic—don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
The S&P rally continues, defying all fears of a recessionLast week was marked by erratic price movements, leading many to recall the old adage, "no trade might be your best trade." The most confusing (and devastating) price action occurred on Thursday following the FOMC's interest rate decision. The Fed cut rates by 0.5 percentage points, sparking fears of an upcoming recession. Wednesday ended with a strong bearish "falling star" candle, tempting traders to take large SHORT positions. To be honest, I would have likely done the same if I had been trading that day (luckily, I wasn’t), as the least one would have expected was an overnight rally that wiped out short positions when the market opened on Thursday. This series of events is a perfect example of what makes trading so challenging— even a solid setup can fail spectacularly without any clear reason. Now, let's try to assess the current situation : 1. The Fed cut rates by 0.5 percentage points – This is actually positive for the economy and the stock market for many reasons (e.g. cheaper borrowing costs). At the same time there are no objective signs of a recession, only fears. 2. The SPX reached a new all-time high – How can this be bearish? 3. Both weekly and daily charts show a strong uptrend. 4. Almost all major SPX sectors closed the week strong, reflecting investor confidence. In summary, the market remains very bullish , with no indication that the trend is reversing anytime soon. Short term price action might be erratic, but long-term things look good both from technical and fundamental perspectives. Let’s stay calm and prudent. Important levels: Last major weekly high (538). As long as it holds buyers have control over weekly chart.
AMEX:SPYLong
by hermes_trisme
BTCUSD Approaching 65K - What’s Next? 60K or 70K?GM crypto bro's, this morning, the Fear and Greed Index has risen again, entering the greed zone at 61, and BTC has pumped towards our target in the 65K range. Yesterday’s correction only reached 62K, without touching 61K, but BTC still managed to correct slightly before successfully pumping into our target range of 65K - 66K. Now, what's next? In terms of price action on the weekly chart, there's potential for BTC to correct again to the 60K - 59K range, with a potential pump towards 69K - 70K. Let’s see if the end of this month will bring a "Septembull" or just a "Septembear." Keep in mind, the market is dynamic—don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
BTCUSD Correction After 64.7K Pump - Testing 61K - 62K Next?GM crypto bro's, BTC has finally seen a correction this morning after pumping to around 64,700. The day starts with the Fear and Greed Index back in the neutral zone at 50. The possible area that BTC might test during this correction could be in the 61K - 62K range, as we've mentioned in previous market updates. Keep in mind, the market is dynamic—don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
BTCUSD Daily Update - Greed Zone, But No Correction Yet?GM crypto bro's, this morning, the Fear and Greed Index has finally entered the greed zone at 59. It seems BTC still isn’t ready to correct down to the 61K - 60K range. BTC is already quite overbought in terms of price action, and the Fear and Greed Index is also showing signs of a potential correction. However, our pump target remains the same as yesterday, around 65K - 66K. Keep in mind, the market is dynamic, don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
BTCUSD Daily Outlook - Small Correction After the 64K Surge?GM crypto bro's, let’s start today’s market update with the Fear and Greed Index still in the neutral zone at 54, while the stoch RSI remains in the overbought area. BTC has risen quite high to the 64K range, so it's normal to expect a small correction today. The potential correction range is still the same as I mentioned in the previous updates, around 61K - 60K. In the crypto market, it's like sailing on the ocean—enjoy the beautiful waves and also brace for the storms. Keep in mind, the market is dynamic, don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
Nifty Short, Medium & Long Term : 23-Sep-24 to 27-Sep-24Nifty Short, Medium & Long Term : 23-Sep-24 to 27-Sep-24 Nifty closed at 25790 (last week 25356) and touched low & high of 25292-25849 ( all time high) Market touched new high last week , and broke the key resistance of 25545 provided last week decisively and also crossed Mid Term Resistance 25800 and settled at 25790 ( ( Target Line Provided) Nifty bank 53797 ( Last week 51938) - As mentioned for last 1.5 months, Bank Index have target of 54000 in medium term ( Currently nearing the target) and support at 49900 Fed Rate Cut by 0.5% made the global market up and triggered increase in Indian Market. FPI invested 4 Billion $ in Sep till date. RSI and stochastics levels moved up last week (71% and 93% respectively). MACD crossed the Signal. RSI and MACD shows market will go up further. Caution to be emphasized as Stochastics at overbought level. Q2 results awaited which will pave way for more clearer path in market. Nifty 25790 Short term ( Short Term : Up) Nifty short term resistance 25790 as shown in chart. Support at 25000 , 24650 (Trend line support and Fib Resistance), & 24480 (Fib Support) Medium Term next target is 26260 ( As shown in chart, The level is the difference between the Aug High and Aug Low from Aug High)- If it crosses 26260, Medium Term is UP. if it moves above decisively next target is 27000. Medium term Support - 24000 Long Term : Nifty have a target of 28190 ( Fibonacci Resistance). Support at 22800 US started reducting fed rate as expected in Sep 2024, expected it shall continue in reduction of interest rate in next year. US President Election result scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. RBI in India expected to reduce rate from end of this year. Caution to be emphasized on Nifty as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as CAMS, UTI AMC , HDFC AMC, Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon, ICICI Bank, HDFC Bank Indian Bank & Punjab National Bank. Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Based on the Q1 results, following stocks can be added to portfolio: There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42204 (last week 43394) indices dipped to 37848 in Jun month, bounced back and reached all time high last week(43632). Later Dipped to 42204 due to profit booking. Recovery of US stock market & awaiting FED rate cut expectation decision pushed the US stocks up and followed by Nifty IT Index last week. NIfty IT is less than SMA 21 level, need clear direction and Q2 results will pave way for the clear direction.
NSE:NIFTYLong
by karthikss