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Support and Resistance

Nifty levels - May 02, 2025Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
BankNifty levels - May 02, 2025Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
BROCCOLIF3B Buy/LongSetup (4H)BROCCOLIF3B after a significant correction, is approaching a liquidity pool that you have marked on the chart. It is expected to make a reversal move upwards after sweeping the pool. We have marked two entry points on the chart. We will enter a buy position at these two points. The targets are marked on the chart. A daily candle closing below the invalidation level will invalidate the buy view on this token. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
1
GPS Looks Bullish (4H)There are numerous bullish signals on the GPS chart. A trigger line has been broken, followed by the formation of a bullish CH on the chart. After the breakout and pullback to the trigger line, the price has formed several support zones, which are fueling its upward movement. Additionally, a significant order block from the higher timeframes has been cleared. As long as the demand zone holds, the price could continue moving toward the targets. A daily candle close below the invalidation level will invalidate the bullish outlook. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
Long
by behdark
M&M -Mahindra & Mahindra Ltd. (2 hours chart, NSE) - LongM&M -Mahindra & Mahindra Ltd. (2 hours chart, NSE) - Long Position; short-term research idea. Risk assessment: Medium {volume structure integrity risk} Risk/Reward ratio ~ 4.78 Current Market Price (CMP) ~ 2935 Entry limit ~2930 to 2910 (Avg. - 2920) on April 30, 2025 1.⁠ ⁠Target limit ~ 3015 (+3.25%; +95 points) 2.⁠ ⁠Target limit ~ 3135 (+7.36%; +215 points) Stop order limit ~ 2875 (-1.54%; -45 points) Disclaimer: Investments in securities markets are subject to market risks. All information presented in this group is strictly for reference and personal study purposes only and is not a recommendation and/or a solicitation to act upon under any interpretation of the letter. LEGEND: {curly brackets} = observation notes = important updates (parentheses) = information details ~ tilde/approximation = variable value -hyphen = fixed value
NSE:M&MLong
by VEDIMarketWatch
1
DeGRAM | EURUSD Declining From the Supply Zone📊 Technical Analysis ● EUR/USD stays below the broken resistance line. ● While under $1.144, the chart favors a slide to 1.131 → 1.12. 💡 Fundamental Analysis ● U.S. yields remain elevated, supporting the dollar. ✨ Summary Stalling Euro-area growth and firm U.S. yields reinforce the technical breakdown. A daily close below 1.131 should accelerate the decline towards 1.12. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
1
USDJPY – Potential Volatility AheadUSDJPY started the week with a 1.3% fall on Monday, where it fell from opening levels around its weekly highs at 143.88, to a low at 141.92 and has since stayed relatively quiet. However, that could all change as we move through towards Friday, as FX markets move into a 3-day period packed with important scheduled events. Risk sentiment towards US assets, and USDJPY in particularly, could be impacted by todays preliminary US Q1 GDP release at 1330 BST, which could indicate whether the US economy experienced a bigger slowdown at the start of 2025 than initially anticipated. Then, later in the day the Fed’s preferred gauge of inflation, the PCE Index is released at 1500 BST, and this is followed by the earnings updates from US technology giants Microsoft and Meta later in the evening. If that wasn’t enough to potentially increase USDJPY volatility, the Bank of Japan (BoJ) will post its interest rate decision early on Thursday morning. Although no change is expected due to the current uncertain tariff impacted climate and on-going trade deal negotiations with the US, the press conference led by BoJ Governor Ueda could contain some market moving commentary. This all culminates on Friday’s US Non-farm Payrolls update at 1330 BST, where all eyes may well be focused on the unemployment rate print, currently 4.2%, to see if the US labour market is weakening, which if it is, could open the possibility of Fed rate cuts. Technical Update: 144.06 Resistance Holds Latest Recovery Having approached 139.58, the September 16th 2024 low trade, USDJPY has seen a recovery in price. However it could be argued, this appears a reaction to what were likely over-extended downside conditions, in place after the 7.50% decline from 151.21, the March 28th 2025 high. Importantly, latest price strength has been held and so far, reversed by 144.06, the 38.2% Fibonacci retracement of March 28th to April 22nd weakness, which traders are likely to continue to focus on, as a potential resistance. The BoJ announcement and data releases this week have potential to be important sentiment drivers for USDJPY, and we must be aware of support and resistance levels that may help us gauge the next direction of future price moves. Resistance Levels: As we have said, so far, recent recovery themes have been unable to break above 144.06 retracement resistance, which will likely be an area that needs to give way on a closing basis to suggest possibilities of a more extended phase of price strength. While much will depend on the market’s reaction to up and coming events and future price trends, 144.06 closing breaks might suggest scope towards 145.43 the higher 50% Fibonacci level, even 146.80, the 62% retracement. Support Levels: Having seen Monday’s decline, price activity is back to what might be a support focus for traders at 142.00, equal to half recent strength. Closing breaks of 142.00 may be an indication of potential for further declines, although it is possible the 139.58 September 16th 2024 low may need to give way on a closing basis to suggest possibilities of increasing downside pressure on price. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
by Pepperstone
TME Consolidates After Rally, Eyes $22–32 TargetIn late 2022, NYSE:TME posted its first breakout, climbing to an average of $7.50. A sustained rally through 2023–2024 drove the price above $15, with the mean level around $11. Since mid-2024, the stock has been consolidating at these levels, holding firm above both the 30- and 50-period EMAs as well as VWAP. However, volume has yet to pick up meaningfully in this zone. Should the move toward $15 resume, increased volume could spark another breakout. The next upside target lies in the $22–$32 range.
NYSE:TMELong
by The_Quantastic
Tapestry Breaks Out of Consolidation, Eyes $100From 2021 through 2025, NYSE:TPR traded in a tight $25–$50 range, with both the 30- and 50-period EMAs running flat and volume largely sideways. At the turn of 2025, however, the EMAs began to slope upward and volume picked up. The first meaningful pullback since then saw price slide from $90 down to $60 in February 2025, but EMA support quickly lifted it back to $70. A sustained break above the $72 supply zone would likely fuel a rally toward the $100 psychological level—and potentially beyond.
NYSE:TPRLong
by The_Quantastic
XRP Potential Falling Wedge / Bull PennantBINANCE:XRPUSDT is consolidating within a structure that could be interpreted as either a Falling Wedge or a Pennant — both typically bullish in the current context. Dual Scenario Setup • Falling Wedge – A classic bullish continuation structure. Breakout target: ~$4.00.* • Bull Pennant – A high-conviction continuation pattern. Breakout target: ~$5.30.* * Both targets are measured from the presumed breakout point and are only valid if price breaks out in the near term. Key Technical Levels • Resistance: ~$2.40 – The descending trendline capping price since January. • Support: ~$1.60 – Confluence of support support trendline + 0.618 Fib retracement of the rally + 1-Year EMA. • Supply Zone: ~$3.40 • A break below ~$1.60 would invalidate both patterns and shift bias to bearish. Volume Note: Gradual decline during consolidation supports both wedge and pennant interpretations. A spike in volume post-breakout would confirm strength. Until a confirmed breakout above ~$2.40 resistance, this remains in a No-Trade Zone for me — but one worth watching closely.
Long
by AliferCrypto
RKT Consolidates Above $10 Ahead of $18 BreakoutNYSE:RKT has been consistently making higher highs since late 2022. A rally toward the end of 2023 drove the price up from $7 to around $18. Although the expanded supply block at that level has capped further gains, the price continues to consolidate above $10, still finding support from the mitigation block in that area. However, because the consolidation is ongoing, the current price trend remains unclear—both the 30- and 50-period EMAs are flat. In the medium term, once this consolidation phase completes, the price is expected to resume its move back toward $18 and beyond.
NYSE:RKTLong
by The_Quantastic
Kiwi in Trouble? Momentum Turns as NZD/USD Tests SupportTraders should be alert to a potential downside break in NZD/USD. Sitting in a descending triangle and having printed a bearish engulfing candle on Tuesday, a clean break below .5930 would generate a setup where shorts could be established with a stop above the level for protection. The 200-day moving average screens as an initial target, with .5854 another after that. Bullish momentum is waning with RSI (14) trending lower while MACD is curling lower. The momentum signal is therefore more neutral than bullish, putting increased emphasis on price action near-term. Good luck! DS
Short
by FOREXcom
USDCAD – DAILY OUTLOOK – APRIL 29Looking at the daily chart, USDCAD hasn’t done much in terms of our longer-term target but continues to reject 1.38618, which adds confluence to the bearish bias. That being said, the consistent failure to push higher makes me doubt we’ll see the deeper pullback to 1.39621—unless we get a strong fundamental catalyst. So for now: 📉 Current sell zones: – 1.37871 – 1.36647 🎯 First target = 1.34380 (300+ pips available) Will reassess if any news shifts the bias, but structure-wise we stay short.
Short
by Thetraderscollective
4/30 Gold Trading SignalsGold showed limited movement yesterday and did not enter either of our predefined major trading zones, leading to minimal profits. As of now, the price continues to consolidate. A larger movement is likely to occur during the U.S. session following key economic data. Until then, consider short-term range trading between 3330-3290. 📌 Why Today’s Data Matters Gold has been trapped in a tight range for several sessions, and a directional breakout is imminent. Today’s data release will likely dictate that direction, so it is crucial to stay alert. ✅ Data-Driven Strategy: If data is bullish (gold rallies): Avoid chasing the initial breakout. Wait for the first spike to settle, then short the retracement, with a TP of less than $10. If bulls remain strong, the retracement should stay under $20. Once short positions are closed, watch for confirmation to go long. If data is bearish (gold drops): If price doesn't reach the lower buy zones(3258-3223), wait for a minor rebound to short, targeting the next leg lower. 📌 Today's Suggested Trade Zones: 🔻 Sell Zones: 3378–3418 3330–3358 🔺 Buy Zones: 3258–3223 3110–3330 (ladder entries)
FOREXCOM:XAUUSDLong
by China_MsWang