Latest news with #MACD
Economic Times
14 hours ago
- Business
- Economic Times
Dalal Street Week Ahead: Cautious optimism prevails over Nifty amid range-bound market setup
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) The Nifty traded in a broadly sideways and range-bound manner throughout the previous week and ended the week with a modest decline. The Index oscillated within a narrow 276-point range, between 25144.60 on the higher end and 24918.65 on the lower end, before settling mildly India VIX declined by 3.60% over the week to 11.39, suggesting continued complacency in the markets. On a weekly basis, Nifty ended with a net loss of 181.45 points or (-0.72%).The Nifty is presently consolidating just below a key resistance zone after attempting a breakout above a rising channel. This zone, between 25100 and 25350, has proven to be a supply area where profit-taking has the broader trend remains intact and the Nifty is above key moving averages, it is still within a complex zone of consolidation. This pause in momentum comes after a sharp up move from the lows near 21743 in April.A strong breakout above the 25265 –25350 zone, with a closing confirmation, may resume the uptrend. Conversely, a sustained move below 24750 could trigger incremental weakness and drag the Nifty towards lower we head into the new week, the markets may see a cautious start amid the current range-bound setup. The immediate resistance is at 25150, followed by 25400. On the lower side, the key support zones are placed at 24750 and further near weekly RSI stands at 56.54 and remains neutral without showing any divergence against price. It has made a fresh 14-period low, which is bearish. The MACD remains above its signal line on the weekly chart, continuing to indicate a positive crossover. No significant candlestick formation was observed for the a pattern analysis perspective, Nifty is trading just below the upper bound of a rising channel that it had briefly broken out of. With the Index slipping below the support levels of 25000-25150, it faces resistance at this zone again, failing to follow through on the breakout. Price action is still above the 20-week and 50-week moving averages, maintaining a bullish undertone from a medium-term perspective. However, the ongoing sideways action indicates a lack of fresh directional the current technical structure, it would be prudent for traders to remain selective and protect profits at higher levels. The markets are not displaying signs of aggressive strength, and unless there is a convincing move above 25350, a stock-specific approach with tight risk management is advised. Traders may avoid aggressive fresh buying until a directional move is clearly established. Cautious optimism, with a focus on stocks exhibiting stronger relative strength, is the ideal approach for the coming our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocksRelative Rotation Graphs (RRG) show that the Nifty Media and the Metal Index have rolled inside the leading quadrant. The Midcap 100, Realty, and PSU Bank Index are also inside the leading quadrant. These groups are likely to relatively outperform the broader Nifty 500 Nifty Bank, PSE, and the Financial Services Index are inside the weakening quadrant. They may experience a decline in relative performance compared to the broader Nifty Services Sector Index, Pharma, Consumption, and the FMCG Index continue to languish inside the lagging quadrant. Among these groups, the Pharma Index shows improvement in its relative momentum against the broader IT Index is inside the improving quadrant; it continues to improve its relative momentum against the benchmark. The Auto Index, which is also inside the improving quadrant, is seen deteriorating in relative Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
15 hours ago
- Business
- Time of India
Dalal Street Week Ahead: Cautious optimism prevails over Nifty amid range-bound market setup
The Nifty traded in a broadly sideways and range-bound manner throughout the previous week and ended the week with a modest decline. The Index oscillated within a narrow 276-point range, between 25144.60 on the higher end and 24918.65 on the lower end, before settling mildly lower. The India VIX declined by 3.60% over the week to 11.39, suggesting continued complacency in the markets. On a weekly basis, Nifty ended with a net loss of 181.45 points or (-0.72%). Explore courses from Top Institutes in Select a Course Category Operations Management healthcare Management MCA Healthcare Others CXO Cybersecurity Data Analytics others Design Thinking Data Science Digital Marketing PGDM Degree Technology MBA Project Management Finance Leadership Public Policy Product Management Data Science Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like NYC Hotel Smartphone Booking | Bookmark Now! | New York City Hotel Booking | Mill Canyon Road Click Here Undo The Nifty is presently consolidating just below a key resistance zone after attempting a breakout above a rising channel. This zone, between 25100 and 25350, has proven to be a supply area where profit-taking has emerged. While the broader trend remains intact and the Nifty is above key moving averages, it is still within a complex zone of consolidation. This pause in momentum comes after a sharp up move from the lows near 21743 in April. Live Events A strong breakout above the 25265 –25350 zone, with a closing confirmation, may resume the uptrend. Conversely, a sustained move below 24750 could trigger incremental weakness and drag the Nifty towards lower supports. As we head into the new week, the markets may see a cautious start amid the current range-bound setup. The immediate resistance is at 25150, followed by 25400. On the lower side, the key support zones are placed at 24750 and further near 24380. The weekly RSI stands at 56.54 and remains neutral without showing any divergence against price. It has made a fresh 14-period low, which is bearish. The MACD remains above its signal line on the weekly chart, continuing to indicate a positive crossover. No significant candlestick formation was observed for the week. From a pattern analysis perspective, Nifty is trading just below the upper bound of a rising channel that it had briefly broken out of. With the Index slipping below the support levels of 25000-25150, it faces resistance at this zone again, failing to follow through on the breakout. Price action is still above the 20-week and 50-week moving averages, maintaining a bullish undertone from a medium-term perspective. However, the ongoing sideways action indicates a lack of fresh directional conviction. Given the current technical structure, it would be prudent for traders to remain selective and protect profits at higher levels. The markets are not displaying signs of aggressive strength, and unless there is a convincing move above 25350, a stock-specific approach with tight risk management is advised. Traders may avoid aggressive fresh buying until a directional move is clearly established. Cautious optimism, with a focus on stocks exhibiting stronger relative strength, is the ideal approach for the coming week. In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks Relative Rotation Graphs (RRG) show that the Nifty Media and the Metal Index have rolled inside the leading quadrant. The Midcap 100, Realty, and PSU Bank Index are also inside the leading quadrant. These groups are likely to relatively outperform the broader Nifty 500 Index. The Nifty Bank, PSE, and the Financial Services Index are inside the weakening quadrant. They may experience a decline in relative performance compared to the broader markets. The Nifty Services Sector Index, Pharma, Consumption, and the FMCG Index continue to languish inside the lagging quadrant. Among these groups, the Pharma Index shows improvement in its relative momentum against the broader markets. The IT Index is inside the improving quadrant; it continues to improve its relative momentum against the benchmark. The Auto Index, which is also inside the improving quadrant, is seen deteriorating in relative momentum. Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals. Milan Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Yahoo
a day ago
- Business
- Yahoo
Is XRP Recharting The 2017 Mega Bull Run?
XRP: Is it 2017 all over again? "History doesn't repeat itself, but it often rhymes," American writer Mark Twain said. The enduring adage suggests recurring patterns and themes throughout history, rather than exact replicas of past events, and applies to the ongoing bull market in XRP (XRP). The payments-focused cryptocurrency hit lifetime highs above $3.5 early Friday, extending the ascent that began in November following a breakout from a multi-year symmetrical triangle or price squeeze. Since 2018, XRP's price had been coiled tightly within a symmetrical triangle, much like a spring storing energy. The pattern eerily mirrors price action observed a decade ago, when prices consolidated in a symmetrical triangle for years, setting the stage for a humongous rally in 2017. XRP picked up a strong bid at $0.00056 and broke out of the multi-year triangle in March 2017, eventually rallying to a high of $3.3 by early January 2018. Thats a staggering several thousand percent surge in ten months. Intriguingly, XRP's price action from the bear market of 2018 to the present day appears to be an almost exact replay of that historical pattern, as the 580% surge from the early November follows a multi-year squeeze in the symmetrical triangle. In other words, if the history continues to rhyme, XRP could see bigger gains in the months ahead, potentially matching the powerful bull run of 2017. Short-term outlook: Bull breather likely With XRP's recent sharp move higher, Bollinger bands, or volatility bands placed two standard deviations above and below the 20-day simple moving average, have widened to the highest since December. The spread between the bands has reached levels that have historically marked an onset of broad rangeplay. Additionally, momentum indicators such as the MACD histogram, have flipped bearish on shorter duration time frames alongside RSI turning lower from overbought, or above 70 levels, to signal correction. Therefore, XRP could consolidate in a broad range before chalking out the next leg higher. AI's take: XRP's sharp rally has stretched its Bollinger Bands to multi-month highs, suggesting volatility could lead to a broad trading range next. While momentum indicators like the MACD and RSI are flipping bearish on shorter timeframes, signaling a potential correction, this wider range could allow for profit-taking or consolidation before the next major move. Resistance: Record highs Support: $3.4, $3, $2.9 Bitcoin: $120K resistance holds Since Monday, Bitcoin (BTC) has failed at least three times to establish a foothold above $120,000, leaving multiple candles with long upper wicks on the daily chart. That signifies bullish exhaustion. The crisscross price moves around the 50- and 100-hour SMAs also suggest the same. This, coupled with the 14-day RSI rolling over from the overbought zone, indicates scope for price pullback. Its common for markets to revisit key breakout points before staging bigger rallies, meaning prices could revisit the May high (former record high) of $111,965. AI's take: The recent price action suggests that BTC needs to consolidate or find fresh momentum before attempting another sustained push higher. Resistance: $123,181, $130,000, $140,000. Support: $117,500, $115,740, $111,965. Ether: To outperform BTC Ether's (ETH) hourly chart shows a bearish divergence of the RSI. That, coupled with pullback risks in market leader bitcoin, suggests potential for price losses in ETH. That said, the ether-bitcoin ratio seems headed for a bullish golden cross of the 50- and 200-day SMAs. Ether, therefore, could continue to outperform BTC. Moreover, ETH's hourly chart averages continue to trend north, indicating a bullish set up to suggest that price pullbacks, if any, could be short-lived and the overall trajectory favors a move to $4,000. AI's take: Ether's stronger long-term bullish setup against BTC (golden cross) and trending hourly averages suggest any dips will be brief. Resistance: $4,000, $4,100, $4300. Support: $3,420, $3083, $3,000. Solana: May highs in focus Here's a refined version, making it more concise and impactful: Solana's SOL (SOL) climb has temporarily stalled at the $185-$187 resistance range, last seen in May. However, with the Guppy momentum indicator recently turning bullish and prices holding comfortably above the Ichimoku cloud, it looks like it's only a matter of time before this resistance flips into solid support. Volatility could pick up soon as the indicator measuring the spread between Bollinger bands bounces of long-held support. A potential cross below the Ichimoku cloud on the hourly would increase the risk of a deeper pullback. AI's take: Expect volatility to pick up, and while a push to $200 is likely, watch for any hourly break below the Ichimoku Cloud as a warning for deeper pullbacks. Resistance: $187, $200, $218. Support: $168, $157, $145. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
The Canadian Dollar is Trending Down as the U.S. Dollar Index Fights to Bottom Out
December Canada dollar futures (D6Z25) present a selling opportunity on more price weakness. See on the daily bar chart for the December Canadian dollar futures that prices are starting to trend down and have formed a bearish double-top reversal pattern. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture as the blue MACD line is below the red trigger line and both lines are trending down. More News from Barchart Insider Trading Alert: Here's Who Bought Nvidia and AMD Stock Before the U.S. Chip Deal with China Dear Tesla Stock Fans, Mark Your Calendars for July 23 Robinhood Keeps Hitting New Highs. How Should You Play HOOD Stock Here? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Fundamentally, the U.S. economy is presently in a healthy state, evidenced by recent upbeat economic data that shows a growing economy. Such also suggests the Federal Reserve will be limited in its ability to lower interest rates, for fear of sparking problematic inflation. That scenario is U.S. dollar-bullish. It's my bias the U.S. dollar index ($DXY) has at least put in a near-term price bottom, if not a major price bottom. A move in the December Canadian dollar futures below chart support at the June low of .7310 would give the bears more power and it would also become a selling opportunity. The downside price objective would be .7100 or below. Technical resistance, for which to place a protective buy stop just above, is located at .7400. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
2 days ago
- Business
- Yahoo
XRP Rockets 20% to Set Record Highs, With $10 Price Target in Play
XRP zoomed more than 20% in the past 24 hours to hit $3.61 — its highest level in over six years — as institutional buyers and breakout traders piled in during a session marked by three massive volume surges. The move followed weeks of accumulation near the $3 mark and came with price volatility nearing 20%, signaling strong conviction behind the rally. Per CoinDesk Analytics, over 200 million XRP changed hands during each of the breakout windows at 05:00, 08:00, and 21:00 UTC, propelling the token past key resistance at $3.52–$3.53. The $3.29–$3.30 zone served as a high-volume base throughout the session, with bulls repeatedly absorbing sell pressure and defending their ground. 'Short-term price targets range from $2.00–$2.17 on the downside to $2.65–$3.00 on the upside,' said Ryan Lee, Chief Analyst at Bitget. 'Long-term forecasts suggest $4.20–$10+ by 2030 if Ripple capitalizes on payment adoption, though $2.50 remains a pivotal level to watch for the next breakout or breakdown,' Lee added. Lee noted that XRP's medium-term trajectory could extend to $5.89, depending on ETF approvals and regulatory clarity. However, technical indicators remain mixed, with a neutral RSI and bearish MACD pointing to potential near-term consolidation. Open interest in XRP derivatives topped $10 billion for the first time since 2021, while funding rates across major exchanges flipped positive, suggesting aggressive long positioning. XRP has gained nearly 70% in the past 30 days, emerging as the strongest token among all majors. And it might just be getting started. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
