Hey Friends !!
Sorry about Posting after a Long Gap, As Many of You Know .. I work with Many Govt Institutions, time to time and I always Give it a Priority over other Things... Was Stuck in Some Work Recently in last 3-4 Weeks and Had some Health issues also due to Bad Weather and All ... You may find by the Chart Dates that I am Trying to Write this Article for many days and Finally Concluded... So Posting it Finally !!
Many Keep Asking About Markets and My Views on Overall Direction... Most of you Know, I am Bullish on Markets and I have My Reasons for it .. May be I read Markets in Different way than Others, but I never look at smaller Timeframe Charts to Decide my Course of Action.
Let's Start With The Global Giant The US Market charts and Then Move Ahead ..
S&P 500
This is My Reading of S&P 500 ... I was Bullish on S&P 500 till it was trading above the Channel Resistance, Then I Stayed on Sidelines and Recently Started Adding Longs in This Index all Over again. This Time it will be For a Bigger Target and Better Returns with Least Risk Involvement !!
The Chart is Self Explanatory, but still Will Try to Explain as Many won't Understand the Chart.
This is a Weekly Timeframe Chart, On Screen is Sufficiently Longer data and the price can be seen moving in a Rising Channel, where we can see a Break for Short Term in COVID Time in 2020. after that the Journey resumed and also crossed the Resistance for some time, but again due to Inflation fears, Russia-Ukraine War and Many other Factors, Price corrected to Reach the Support of the Channel. This area is Actually a Crowded area with Multiple Supports in the Same Zone. a 3 Year Simple Moving Average, The Trendline Support, The Previous Resistance Turned into Support now.. Everything at the same zone. and Now We will be Looking at a Massive Upside Potential in this Index after a Long Pullback. The Reasons for this Move May be slow reduction in Inflation, may be some Positive News flow from around the Globe, Whatever is the Reason... As a Trader it is Very Simple.. Buy with a Support of 3500-3600 and a Target of 4500 - 4800 !!
DOW JONES
Now this is a DOW JONES Weekly Chart and Here also We are Looking at a Almost Similar Structure as of S&P 500 ...
The Index is Retesting Pre Covid Highs and 200 Week Simple Moving Average, A Trendline Support ... All Included, it's Best Placed for a Long !!
My Take here .. Long with a Supprt of 29100-29200 zone and Hold for a Target of 33333 - 35555 !!
NIFTY 50
Here is one More Chart on the Same Timeframe but a Zoomed in on Current area ... Anything above the 2021 high is always a Bullish zone.. So I am Not worried... and Whenever Market Tried to Reach this Zone, I have Initiated Longs and As Long as Marker is Above this Red Line, I will always be Adding Longs on Every Dip !!
I have already given my Targets, 18888 - 22222 in Nifty and Both Will be Achieved... What Can I do here ? Simple ... Go Long with a Support of 15300-200 area and Hold the Longs for a Target of 17777 - 18888 - 19999 - 21111 - 22222 !!
I expect a New High in Coming 2-3 Months !! Simple ?
BANKNIFTY
This is a Weekly Chart of Banknifty !!
By Which angle does it Looks like a Bearish Chart ?
Banknifty is Just Consolidating and Getting Ready for a New High ... My Target is Still Pending, It was Given in 2020-21 ... The Support is Still in Place and Holding For Last 2 years... So Don't Worry ... My Target is Intact and It will be Achieved Once We Move Above The Magical Level of 37777. The Index is Getting Ready for a Breakout and It will be Very Good For Overall Markets ... Banks Need to Perform but Don't Expect them to Lead the Market immediately. We Need Equal Performance by All Sectors, Dominance by Banks will mean dead movement in other Stocks !! Banks will also Perform and This Time it will be Big !!
Trade as per your Comfort and Don't Behave like popcorns jumping on small heat !! You are in Stock Markets and Volatility is The Only thing that Keeps Market Alive for Generations. Best way is to Learn how to Handle The Volatility ... !!!
The Analyst is a Global Market Expert Tracking and Analysing Global Markets and Simultaneously Tracking Indian Markets since Last 15+ Years. A Certified Investment Adviser by Many Global Institutions. The Analyst is Having Client base all over the Globe.
Trading Advisory : Never Trade on Random Levels and Views posted by Unknown advisers without tracking them for enough time. Never Jump in Trades without Considering The Potential Risk and Without Following The Risk Management For Your Account. Always be Prepared for the Worst and Plan For The Best !!
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email : paidsignals@gmail.com
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