Short term turnaround in Gold as we see today 18th July '22.
On the 3 HR chart, we notice a rare pattern which is identified as a Bullish TriStar formation.
At TriStar Trading, we suggest buying $Gold above $1715 with targets of $1794
And Below $1700 we expect $1680 & $1580
HUDCO developed strong buying in the previous week's, with every increase in Volume the stock would continue to be in an uptrend.
The RSI beyond the 50 parameter supports the bill run, and the ascending triangle signifys that the RSI would indicate a next buy beyond its 60 parameter and 70 parameter.
Therefore our target for HUDCO is at 58+
A perfect visible head and shoulder on Kaveri Seeds. Both on the weekly and the Monthly suggests that the Daily cycle low may retest 480 / 450 following the decending regression trend.
However, how many a times have we witnessed a false head and shoulder formation ? With the probability of an H&S being 80%
I would be cautious If it breaks above the regression equilibrium
Let's take a close look at $Gold #Gold from 2001 until it's highs of 2011 (Monthly charts)
Here, I'm only working with the Fibonacci.
Drawing the levels from bottom of 2001 tonthe highs of 2011 where Gold peaked. We just got a decent retracement towards the 50% Fib levels forming a 'Cup' and an ark .
Now, within this ark right from the 2012 / 2013 levels Gold...
The Nifty Index struggled to hold above 14800 since the beginning of April. Testing 14800 thrice,
A break below 14700 paved way towards 14300.
We've witnessed heavy put buying around 13500 on Friday last week.
Once Nifty breaks below major support drawn in red on the weekly, the index would continue its downtrend.
Nifty did form 'Doji' pattern last Month in...