MoneyMunch.com

NIFTY, ADANIENT, & AXISBANK: Tips & TA

Posted: 22 May 2022 06:13 AM PDT

Nifty Extended But In A Limited Price Range

Nifty has made a wammie bottom on the 4-hourtimeframe chart. It is forming on the descending channel.

Currently, Nifty is facing resistance on the upper band of the descending channel. There is a strong resistance as well as a confluence zone of 16400. If nifty breaks the resistance level of 16400, it will be confirmation of an upward march for 16518 – 16708 – 16820.

The upper band reacts as a supply zone to the price. Also, highs price attracts sellers more.
If nifty sustains below 16400, traders can expect the following swing targets: 16161 – 16088 – 16014.

ADANI ENT: Is Preparing For The Final Upward March?

After making a high of 2452, ADANI ENT has started collapsing to corrective previous impulse move. Price has taken support on the 50 EMA and started marching upward. If ADANI ENT sustains above 2190, traders can buy for the following target: 2232 – 2258 above.

Axis Bank: Buy On Dip Is Active

Recently, Axis bank has made a low of 630. Prices are facing resistance at 665. Axis bank has touched the 15-month-old lower band of the value area. If the price breakout resistance of 665, traders can trade for the following targets: 676 – 688 – 700.

If you have any questions or concerns about the stock market, don't hesitate to contact me:

The post NIFTY, ADANIENT, & AXISBANK: Tips & TA appeared first on Moneymunch.

Gold’s Next Bull Leg In Progress

Posted: 22 May 2022 05:03 AM PDT

Bull Gateway: 1852
Gold has created three consecutive positive bars in the last 25 trading sessions (36 days) for the first time. And it’s above 200 MA. That’s a good sign for buyers! If gold breaks the parallel channel, my upside targets are 1866 – 1882 – 1906 – 1920.

But, it hasn’t broken the parallel channel in the last trading session. It’s at the resistance line of it. And XAUUSD is quite far to the bull gateway level. So, wait and watch is an option for bull traders.

Gold’s downtrend will start from the 1832 level. If it fails to break the parallel channel, then go for the following levels blindly: 1826 – 1812 – 1800

Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas.

Tuesday, May 24, 2022
04:30 FOMC Member George Speaks – Low Impact
19:30 New Home Sales (Apr) – Medium Impact

Wednesday, May 25, 2022
18:00 Core Durable Goods Orders (MoM) (Apr) – M
20:00 Crude Oil Inventories – High Impact
23:30 FOMC Meeting Minutes – Meduim Impact

Thursday, May 26, 2022
18:00 GDP (QoQ) (Q1), and Initial Jobless Claims – High Impact
20:00 Natural Gas Storage – Low Impact

Friday, May 27, 2022
17:05 FOMC Member Bullard Speaks – Low Impact

MCX gold report will update soon for premium subscribers only.

Would you like to get our all commodity updates instantly? We have an option for you.
Click Here: Free Commodity Tips

Do you want to get Premium Calls only?
Click Here: Premium Commodity Tips

If you have any questions or concerns about Commodity Market then contact by following ways:
Email: support@moneymunch.com
Phone: +91 903 386 2706

Have you any question/feedback about this article? Please leave your queries in the comment box for answers.

The post Gold’s Next Bull Leg In Progress appeared first on Moneymunch.