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Nifty View - 03 Nov 2023From a technical perspective, the Nifty index rebounded after a two-daydecline. It opened with a gap-up, reached a high of 19,175, and thenretraced from that peak. After hitting a low at 19,064, it managed to closeabove 19,100. There's a notable resistance at 19,250, and until it breaks and closes above this level, the Nifty may face continued pressure. The keysupport is at 18,800, and as long as it holds, the Nifty is likely to tradewithin a volatile range.Intraday traders might consider long positions if the Nifty closes above 19,170 on the 15-minute chart and short positions if it closes below 19,096 on the same chart.

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EUR/USD traded 123 pips last week Vs DXY 113. Approximately 97 pips separates EUR/USD and DXY but this is also the same average that governed the relationship for past years. EUR/USD at 1.1200’s Vs DXY 99.00 hardly moved the average. Its a permanent fixture that exercises control over markets to separate overall USD Vs EUR and all associated currencies and market prices.The early warning to a price problem attests to the tiny ranges especially over past weeks but also to limited upside DXY to downside EUR/USD. Two separate factors at work are overbought DXY and oversold EUR/USD and prices approaching a vital average.On approach to a price at a significant average, the price slows substantially and ranges compress. A Price break at a significant average gains speed and creates wide ranges because the numbers associated to the average achieves 0 and must create new numbers to levels, targets and ranges.I’m viewing DXY Vs EUR/USD as an average meeting without the significant break. Oversold and overbought prices can only travel so far then math stops the oversold and overbought progression. The most important market prices brought us to the brink and this is not unusual.Further into deeply oversold for EUR/USD, here’s levels: 1.0687, 1.0656, 1.0626 and 1.0596. I don’t see these levels trading anytime soon.For the week: EUR/USD and EUR cross pairs oversold, USD/JPY and JPY cross pairs overbought, USD/CAD overbought, USD/EM massive overbought.AUD/USD, NZD/USD and GBP/USD deeply oversold. More later as I dig deeper into overall prices.The next EUR/USD upside levels Vs DXY are fairly accurate.EUR/USD 1.0717 Vs DXY 104.87EUR/USD 1.0727 Vs 104.77EUR/USD 1.0746 Vs 104.58EUR/USD 1.0794 Vs 104.10EUR/USD 1.0842 Vs 103.62 = Significant breaks here.EUR/USD 1.0890 Vs 103.14Brian Twomey

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Nifty Faces Profit Booking Amidst Market Turbulence Last week, we witnessed profit booking as selling volume increased by 31.66% compared to previous week. This week, Nifty opened at 20155.95, reached high of 20195.35, a low of 19657.5, and closed at 19674.25, losing 518.1 points. Nifty seems to be entering a selling mode, and we might observe further selling pressure in coming week. The bears have widened the range of Nifty from 300 to 500 points on a weekly basis. On the weekly chart, Nifty has formed Bearish Marubozu.Nifty has breached most of its support levels, with bears prevailing over bulls to take over. It managed to close 191.1 points lower than the previous week’s low, indicating that the bears are gaining ground. On Friday, the bulls attempted a rebound from lower levels, reaching a high of 19798.65, but were unable to sustain it. All major indicators and oscillators are in the negative territory. Nevertheless, Nifty could rebound if it finds support at 19600. The Nifty bank is also in negative territory according to major indicators and oscillators, but it could potentially rebound if it finds support at 44500. Interestingly, the outcome of the Federal Reserve’s September meeting, signaling Hawkish Pause with the possibility of one or two rate hikes, is not a positive signal for global markets. Additionally, Brent crude trading at around USD94 per barrel, approaching its 52-week high of USD 99.56 per barrel, which is also not supportive. On Friday, Nifty loss 68.1 points, closing at 19674.25, indicating a potential bearish momentum. Nifty is expected to find support at 19600-19575-19500, while resistance levels are likely 19750-19825.Disclaimer: All views and analyses expressed here are for reference only. Specific trading involves a substantial risk for traders/investors must consider all risk factors of their personal finance before trading. Must consult your own investment adviser before making any trade.

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TODAY'S TRADING CALLS (1-08-2023)Global market cues are strong and GIFT NF trading higher by 55 points at 19892.Nifty recorded its 5th straight monthly advance since 2021 May-Oct.20 DMA support of nifty and bank nifty acted well yesterday too and nifty closed above 19750 giving hope to test 20000 again.Results not delivering major positive surprises but bulls will rely on liquidity to take out 20000 mark.Individual stocks doing far better and we could book profit in 20 trading calls yesterday.Today its Finnifty weekly expiry and as per OI data it can trade in the range of 20250-20520.We will be updating the MAXPAIN as usual to get the latest trading range.Brent crude moves above $ 85, 3 months high and USDINR at 82.25 are the major head winds for bulls.FIIs continue to write 19500 and 19600 put options heavily is the big positive for the bulls.Sign up NowLog on tohttps://signup.oroboro.in/Website:-https://wealth.oroboro.in/App:-https://lnkd.in/fEdtpCq...Email us:-hello@oroboro.inCustomers reach Us :- +91 - 91 888 35 444#stockmarket#investment#sharemarket#srocktrading#stockbroking#trading

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MORNING TRADERS 👋 The #FTSE100 is trying to end its longest losing streak since mid-2019 today, having fallen for seven consecutive sessions! The index has been setting a series of lower-highs since peaking in February, but has found a reliable support at 7,257 to 7,206. Buyers have returned to the market the last eight times it has reached this level and that is proving true again today. The fact the RSI also slipped into oversold territory at this level in March, July and this week also reinforces the idea that this is as low as sellers can push the index for now.We have seen the index rally every time it has rebound from these levels over the past eight months, although it is no longer able to set higher-highs as the falling trendline that can be traced back to February continues to provide resistance. This signals that sellers are returning to the market earlier and buyers are losing steam earlier each time. We could see the index return back to the trendline if this pattern continues. The pinbar we saw yesterday showed buyers experienced a strong rejection when they tried to push the price higher, so it will be interesting to see if they can make more progress today or whether sellers will keep the upper hand.On the downside, a close below 7,257 would mark a new lower-low. Any slip below 7,200 could signal the start of a sharper reversal.Find the full article here 👇https://lnkd.in/eKB5SpFm

Good Morning Traders!Highlight of Today..EUR/USD edges higher, tests key resistance area-EURUSDedges higher again today, makes higher high-It tests the resistance set by a key area, north of 1.1032-Momentum indicators support the current bullish moveEURUSD is trying to record its fourth consecutive green candle as it has entered the 1.1032-1.1095 area. This is a key resistance area, which has been making the bulls’ lives difficult since February 2023 with a number of failed breakout attempts recorded. EURUSD has also recorded a higher high, above the recent local peak of 1.1016, thus keeping the bullish trend, which has been in place since the November 2023 lows, intact.The bulls are probably feeling confident as the momentum indicators are yet to show strong rally-exhaustion signs.TheRSI is hovering comfortably above its 50-threshold and the Average Directional Movement Index (ADX) is edging aggressively higher and thus pointing to a trending market. Similarly, the stochastic oscillator is trading in its overbought territory and trying to record a new higher high, matching EURUSD’s performance.Should the bulls remain hungry, they could try to overcome the busy 1.1032-1.1095 area. If they are successful, they could then have a go at pushing EURUSD towards the March 31, 2022 and the July 18, 2023 highs at 1.1184 and 1.1275 respectively.On the flip side, the bears are keen to defend the 1.1032-1.1095 range and then stage a move towards the 1.0798-1.086 area that is populated by the 50- & 200-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement of the September 28, 2022 – July 18, 2023 uptrend. Even lower, the 1.0671-1.0727 region set by the December 15, 2022 high and the 100-day SMA could prove stronger to break than currently foreseen.Drop me message for more info and updates.#tradequo#forex#forexnews#introducingbroker#trader

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Nifty Weekly Expiry AnalysisBetween the last expiry and today, Nifty50 has gained 359pts ~ 1.85% and broken 2 important resistance levels. We almost took out the 19776 resistance today but for a strong red candle @ 14.15.Nifty Today AnalysisRecap from yesterday: “On the 1hr chart, the next target to break will be 19776 which is just 100pts away. Something that is easily possible if SPX holds its ground today. Since most of the market participants are long-only, any upsurge will sweep in more market participants.”Nifty opened inline and then was steaming ahead, As we discussed yesterday it took out the 19776 with so much ease. The 3 5mts candles between 11.00 to 11.10 showed how the momentum picked up right before the resistance zone which kind of indicated that the rally was not going to slow down. By 13.55 we picked up more pace, quite visible by the FII participation on the BUY side. We hit an intraday high of 19875 by 14.45 and then something unplanned happened. We dropped 153pts in the 25 minutes, we will explain that in detail during the BankNifty Analysis below.On the 1hr chart, we closed slightly below 19776, the 14.15 hourly candle is well-lit like a beacon. I am still continuing my bullish stance in the hopes that 19776 will get taken out during the forenoon session tomorrow. If not, I will be changing my stance to neutral and will update it via tradingview minds.

USD/EUR Jumps By 3% In The Last 10 Sessions(VIANEWS) – USD/EUR (USDEUR) has been up by 3.03% for the last 10 sessions. At 04:14 EST on Monday, 30 October, USD/EUR (USDEUR) is $0.95. USD/EUR’s yearly highs and lows, it’s 6.822% up from its 52-week low and 7.805% down from its 52-week high. Volatility USD/EUR’s last week, last month’s, and last quarter’s current intraday […]https://lnkd.in/dUtngDSB - Read more.

USD/EUR Bullish Momentum With A 1% Rise In The Last 10 Sessions(VIANEWS) – USD/EUR (USDEUR) has been up by 1.31% for the last 10 sessions. At 22:10 EST on Sunday, 10 December, USD/EUR (USDEUR) is $0.93. USD/EUR’s yearly highs and lows, it’s 4.736% up from its 52-week low and 2.936% down from its 52-week high. Volatility USD/EUR’s last week, last month’s, and last quarter’s current intraday […]https://lnkd.in/dKyZybjZ - Read more.

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USD/EUR Jumps By 1% In The Last 21 Sessions(VIANEWS) – USD/EUR (USDEUR) has been up by 1.68% for the last 21 sessions. At 09:08 EST on Monday, 25 September, USD/EUR (USDEUR) is $0.94. USD/EUR’s yearly highs and lows, it’s 6.168% up from its 52-week low and 10.17% down from its 52-week high. Volatility USD/EUR’s last week, last month’s, and last quarter’s current intraday […]https://lnkd.in/dqMEvi52 - Read more.