TradeCentral_IN

TradeCentral_IN

NSE:NAZARA seem to be breaking out with decent volumes. Keep an eye.

TradeCentral_IN

NSE:GATEWAY is breaking out with good volumes. It's Wednesday so give it couple more days for this week's candle to finish. Going by current strength in price action and volume, it shouldn't be any different but better to be safe that sorry.

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NSE:NIFTY seem to be forming rising wedge and last touchpoint on the upside seem to be pending which is around 21900/22000 zone. Once we hit it, chances are NSE:NIFTY will go down from there for a decent correction. Don't be aggressively long from here on and tread cautiously.

TradeCentral_IN

NSE:GLAXO has given a solid breakout in weekly charts from a cup and handle (C&H) pattern which evolved over nearly 8 years. This is significant technically. Disclaimer: Use this only as analysis and do your own due diligence for buy/sell decisions.

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NSE:INDIAVIX has broken out from long term trendline and the impact was seen on NSE:NIFTY today which took nearly 300 point hit. If VIX continues to stay above the trendline then chances are we have made a medium term top in NIFTY and next few weeks might result in more red days. Be cautious if you're carrying longs on any NSE index.

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NSE:BANDHANBNK has given a strong breakout from a triangle formation with good volumes in today’s session. It looks like a descending triangle but the breakout has occurred on the upside. Volumes look good as well. Height of the formation gives a 25% move and the stock closed 4.4% up today from the upper trendline so there is likely healthy upside remaining. On...

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NASDAQ:AMZN has formed an inverse head & shoulders pattern which has bullish implications but there is a sustainable breakout. Given the good results in past few quarters, fundamentals also support the bullish view. Having said that, recessionary fears are here to stay though it might still be some time before something starts showing up in charts.

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KUCOIN:BTCUSDT is moving in a flag like channel with support around 34500 and resistance around 36500. One of these would eventually break. Let's wait and watch.

TradeCentral_IN

This is the daily chart of $NASDAQ:AAPL. Stock seem to be forming bullish wedge and there have been three touchpoints at both top and bottom trendlines of the wedge. It would be interesting to see if the stock still remains in the range and reverses after hitting the upper trendline or breaks out from it. Given the downward slant of the wedge, I am inclined...

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This is Triveni Engineering (NSE:TRIVENI) quarterly chart. In the chart I have marked the long term impulse wave counts in yellow, and internal fractals in orange (impulses) and red (corrective). It feels really good when you see such clean, textbook wave counts as they reinforce your confidence into Elliott wave theory and it’s practicality. I haven’t shared...

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If we break down from 200 DMA then wave Y would be confirmed and then we would be looking at a much more serious downside.

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Most are waiting for TVC:DXY to stop and turn downward for the sake of commodities and EMs. Many times it looked like dollar index has turned down for good but now looking at the weekly chart, it looks like we might see a climb to 102.3 levels before it starts reversing. And if that happens than we'll see sub-90 levels though this whole thing can take a year or...

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Hourly chart of NSE:NIFTY is showing a bullish divergence between price and RSI. In daily chart, index seem to have found support at 200 DEMA and lower Bollinger band.

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FX_IDC:USDBRO is retracing in what seem to be wave C of ABC decline after completing a 5 wave impulse. There are 2 primary levels to watch out for - first is $87 based on A and C equality, but price could take support at the trendline and wave C could truncate or result in complex correction. That level would be between $98-$100. Having said that, once this...

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NSE:RELIANCE has formed a slanting H&S and the price is hovering at right shoulder breakdown levels. It's too early to say it'll materialise. And if it materialises then what does that mean for NSE:NIFTY ? Keep an eye!

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We are witnessing a double top in NSE:HCLTECH . It gave a breakdown on 27th Jan but on 28th price recovered a bit (as of writing this). If price fails to move up much from here and gives a close below the neckline again then it could be a good shorting opportunity for nearly 20% down move as per the height of double top formation. Keep an eye!

TradeCentral_IN

NSE:HEROMOTOCO weekly chart is showing breakout from falling channel (wedge-ish) pattern with good volumes. As long as we stay above 2700 (daily closing basis), we might see 3500/3600 levels in weeks to come. Keep an eye!

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BINANCE:BTCUSD seem to have made a H&S pattern in daily which broke down couple of days back but so far 40k support is holding. If we get a close below 40k in daily then we might see 30k levels. If that happens then that would be a pretty good level to accumulate as far as we are concerned. Keep an eye!