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Have you traded MCX GOLD?
Click here: Will Gold survive above the 55000 level?
MCX GOLD: Tips & Update
I had written clearly,”Currently, gold is showing a bullish sentiment, which may lead to the following targets: 54740 – 54900 – 55000+.”
Timeline:
[13 December 2022]
- 07:00 PM – GOLD reached all targets in a single candle and made a high of 55047.
If you have traded this setup, you could have made more than 900 points in just two trading sessions.Continue reading
Is NSE POLYCAB Preparing For Impending Advance?
NSE POLYCAB has broken out a cup and handles pattern at the weekly timeframe chart. The handle has given 50% Fibonacci retracement of the cup.
The neckline at 2862 has provided resistance to the price until it broke out. Along with the relative strength index, the 20 and 50 moving averages are indicating bullish momentum.
If the price sustains the above swing high at 2862, traders can trade for the following targets: 3032 – 3185 – 3246. The trade will be invalid in case of spring or close below the neckline.
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NSE INDUSINDBK Is Preparing For A New High
Have you read my previous analysis on NSE INDUSINDBK?
Click here: NSE Indusind Bank has started forming wave 5
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MCX CRUDEOIL & GOLD – Big Pictures
Bearish signals remain for crude oil price
Timeframe: Daily
After making a high of 9996, the price started forming a descending channel. The channel has been occurring for more than 39 weeks. 7735 was a crucial resistance level where the price tried to test for three attempts but failed to maintain bullish momentum.
The price has broken down the descending parallel channel and closed below the recent lower low to create a new low. Bearish momentum can lead price to the following targets: 5700 – 5600.
Trade will be invalid if the price sustains above the upper band of the descending parallel channel.
Trade setup with entry, exit, and stop loss is only available for premium subscribers.
Will Gold survive above the 55000 level?
Timeframe: Daily
MCX GOLD has broken out of the 10-week-old upper resistance band of the parallel channel and moving forward to the crucial resistance of 55000.
After breaking the swing high of 53663, the price faced resistance until demand pressure turned the level into support. Currently, gold is showing a bullish sentiment, which may lead to the following targets: 54740 – 54900 – 55000+.
Note: the resistance line is currently providing support after the breakdown, but closing into the channel will increase selling pressure.
Entry, exit, and stop-loss levels are only available for premium subscribers.
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Nifty & Stock Trading Calls Report of November 2022
To Free Subscribers,
We sent you the following intraday and positional trading calls in the previous month.
P/L Report of November 2022
-
- BUYOCT 20 – HINDALCO +38,700/ 1 lot
- BUY OCT 31 – NIFTY +37,500/ 1 lot
- BUY NOV 3 – PRECWIRE +2310 / 100 shares
- BUY NOV 6 – ASIANPAINTS +14,000/ 1 lot
- BUY NOV 7 – TATA STEEL +12,750/ 1 lot
- BUY NOV 9 – HDFC +43,800/ 1 lot
- BUY NOV 29 – BDL +3600/ 100 shares
-
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- BUY NOV 16 – EPL 1600/ 100 shares
- BUY NOV 17 – HAL +1,00,225/ 1 lot
- BUY NOV 17 – MINDACORP +1500/ 100 shares
- BUY NOV 17 – HINDUNILVR +29,400/ 1 lot
- SELL NOV 17 – ADANITRANS +22,500/ 100 shares
-
Total P&L = Rs.3,07,885
