LET THE MARKET TELL WHO WE ARE

This is the daily chart of #NaturalGas MCX which has closed at 202.30. Observation: recent #corrective move had taken place in a #falling #wedge formation which later resulted in a #bullish breakout. Recently this commodity is attacking at #psychological ceiling near 202 and at the same time it has established a move above 10 days SMA  which is also sloping upward suggesting a bullish environment for this commodity. Staying long can be a good #strategy as long as price manages to hold above 10 days #SMA which stands near 193. #MACD is near centre line and price stability above 193 will bring a positive cross on this indicator which will confirm bullish trend and momentum for coming days. Approaching winter season will also be a supporting factor for bullish expectations. Assumption: Dips towards 198-196 can be used for longs with stop of 193 for targeting 212-217-228 in near term . Hints: I have used trend line to observe market structure. 10 days SMA is used to observe trend...

Happy independence day!!! We are celebrating 71st independence day but what about financial freedom? Large number of people in this country give up their desire just because they can't afford. People who have batter financial management become wealthy in other words people who know how to make their money to work for them become rich and achieve financial freedom. No matter how hard you work, how much you earn if you can't manage your finance properly you would never achieve financial freedom. To prove my point let's take an example of two people. In early 2000 two persons, person 'A' and person 'B' employed in small shops in small town earning 3000 per month as salary. Person 'A' bought a colour TV which was costing nearly 25000 at that time and person 'B' bought a plot of 100 yards with that 25000 rupees. After 10 years that TV's value depreciated to 2500 from 25000 and that plot turned into an asset of 25lks... This is how properl...

Nifty spot is currently trading at 8565.55. This index has recently placed a top at 8968.70 which was 93.4% correction of entire bearish attempt from high 9119.20 to low 6825.80. Nifty has turned sideways near 88% Fibonacci correction of bearish move that presents ideal condition for a Bullish Bat harmonic pattern. Nifty price movement has already completed 3 legs of this pattern and now final leg ‘CD’ is in progress that completes near 88% correction of primary leg ‘XA’ which is placed at 5574. Based on price action Nifty, however, had recovered from 57% correction of bullish attempt from low of 5118.85 to high 9119.20 but failed to make a higher top to confirm continuation in longer term bullish trend and now it keeps chances alive for negatively biased sideways market. Nifty has been fluctuating between 8500-8900 zones from past few weeks and attracting buyers near the areas of 8500-8470 zones. Thus we can consider areas of 8470 as very strong support but a bearish cross on MAC...

Copper has been witnessing a long term down trend since August 2013 and closed at 333.50 yesterday. Provided is weekly chart in which correction from top of 512.65 took place in a channelized manner and this metal found support near 291 whereas 284.10 was the swing low posted in 2010. Most recently copper recovered from 298.05 which is 88.8% Fibonacci correction of bullish swing AB. Swing AB itself is 61.8% correction of bearish swing XA. Fibonacci relationship between these swings hints possibilities of a harmonic structure that can be either Bearish Gartley or Bearish Crab. In case if pattern unfolds as bearish Gartley then current rally is likely to be terminated from 358 zones after completing leg CD of this structure. Presence of descending trend line resistance near 358 also increases significance of this structure. In case if pattern unfolds as bearish Crab then an advance to complete leg ‘CD’, which is 161.8% extension of leg ‘XA’, can’t be ruled out. And this extended rall...

Copper on MCX is currently trading at 338 up by 2.33 percent from its previous close. It  had witnessed a nice recovery after placing a low of 291.50 in recent months and headed a high of 343.85 during that rally. After that a short term correction took place that lasted almost for 3 months and this correction was witnessed in a channelized manner. Now copper has climbed above the resistance line of this channel while Stochastic is staying above 40 and MACD in bullish territory. Bullish price action is also supported by positive reading on momentum indicators and this rally seems reliable. Prices are now attacking its flip resistance (Support Turned resistance) thus the areas of 338-339 will play crucial role in coming days and if copper finds its way above 339 than a strong rally towards 351-366 can’t be ruled out in near term. Areas of 325 are expected to remain crucial and further stability below these levels might invalidate bullish expectations. 

CAIRN on NSE settled at 162.10 and registered 7.96% gains for the day. Provided is weekly chart of CAIRN in which a strong down trend can be seen clearly. Recently, stock has changed its dynamics on weekly chart and a long term bottoming formation can be seen clearly on MACD indicator. Inverse head and shoulder pattern has emerged in this stock and this week stock has broken out above the Neckline of this bullish reversal pattern.  MACD is now testing its signal line near centre line and MACD histogram is confirming MACD divergence that suggests increasing bullish momentum. Stock has formed a base above 20 weeks EMA which is itself a bullish trigger on short term time frame. However, 20 weeks EMA is staying below 50 weeks EMA but price has climbed above 50 weeks EMA that suggests increasing bullish momentum in this stock.  Inverse head and shoulder bullish reversal has emerged after 16 months of strong down trend that increases the potential of this pattern. However, patte...

Here are 5 reasons why NIFTY has potential to resume its primary (long term) bullish trend. Price has broken out above 1 year old descending trend line resistance which was drawn by connecting life time high of 9119.20 ( March, 2015) and another swing high 8654.75 (July, 2015). Broken trend line has provided strong support during most recent bearish attempts. Price has been staying above 20, 50 days EMAs and 20 days EMA is above 50 days EMA and both EMAs are trending up. Nifty has found strong support near 23.8% Fibonacci correction of bullish attempt from low of 6825.80 to high 7992. Smaller the retracement stronger the trend.  Price has started attacking on 200 days moving average while MACD is in positive territory.  A Confirmed breakout above 8000 will lead a strong rally in this index, whereas failure of 7650 will invalidate recent bullish developments.