Dubai stock market has finished or is about to finish its up leg, what will follow is a steep decline to uncharted territory
I have no positions in this market.
Market is been running for the last 250 points without taking any pause or break, its right at the resistance. It would be better if it takes some pause before breaking the resistance else there are good chances of a fake breakout. Overall market have completely recovered from the previous losses and its in a positive territory. We want to see a close above 2300...
Market after heavy selloff market have to clear all the resistances on its way. More negative news about covid 19 new variant is creating havoc !! most likely we will also see sell off tomorrow !!! For now stay away from the market.
Market today recovered a bit but could not cross the resistance that was earlier a support zone, with international markets in recover mode i think UAE stocks will also recover slowly. Trend is still to the updside.
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Those who received Emaar swap shares started selling and market panic sell was seen, strong support is very near most likely market will hold in this zone and bounce back. Market is still in uptrend!!
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Market is still bullish and its again taking a small pause,i think there is a possibility of one more push up.Well incase the market fails immediate support is 3230 zone, if this does not hold next support is around 3145 to 3120 zone. But over all market is very bullish!!
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After a massive run Dubai Stock Market Index is not taking some rest, so can we expect a bull run again? yes most likely we will see 3200 very soon as thats the next resistance area. Immediate support is at 3125 and 3100 respectively. Since the market is moving backed by fundamentals i am expecting more news coming out slowly which will push the market volumes and...
What a performance in wednesdays sessions by Dubai Stock Market with good volumes. Market is surely climbing up but at the same time there are chances of a bearish chart pattern that is head & shoulder. If market does not cross the immediate resistance around 2870 zone then we can see a right shoulder forming and once it break the neckline we can see bloodbath in...
Still market is not in a uptrend it can make a U turn any time, i would like to see a bullish chart pattern here for a confirmation. Lets see if it can cross the major resistance!!
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After a fall now market have to go through many hurdles, white lines are the resistance that it have to cross. Major resistance at 2874 zone, as of now market is very sensitive. Lets not rush to buy any stock as in negative sentiments market or stocks dont perform very well. Over all as of now market is in a no trade zone lets wait for a breakout!!
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Market is going down day by day and no sign of relief at support levels. Its approaching a important support zone that is around 2800 level lets see if it bounce and move up else will go down around 2740 level if this is broken market will change it direction to a down trend which i hope doesnt happen. For now market is under pressure and needs a positive catalyst...
With Dubai Expo around the corner I think market will rebound very quickly after the panic selling seen for the last 2 days due to real estate company in China on the brink to collapse, its effect is seen all over the markets. Dubai Stock Market is still over all bullish and will react positive if world markets hold and recover. Support 1, 2 & 3 are broken already...
After a nice bull run market is been retracing for more than a month now, interestingly 2740 level is so far holding as support. We can see a bullish divergence and marking in a range for the last 1 week. Market is consolidating in the BOX if the break is to the upside which i am expecting then we can see it touch the swing high again but if it breaks downside...
In the previous chart, we expected the indicator to go down to the main trend line, and then there are possibilities of a reversal to the resistance line 2870, but we should not forget that there is also a possibility of breaking the main trend line, even if by a small percentage.
On the other hand, in this 15-minute chart, there is a possibility of a minor...
