Ashish Maurya | Simplifying Markets with Technicals

 With strong gains of 42% and 49% on a year-to-date basis, respectively  the Nifty midcap and smallcap indices currently trade at a 25% premium to their long-term averages, suggesting possible valuation issues.  The country's expected high November inflation, fueled by rising food costs, caused the Nifty50 to go into a stabilization phase on Tuesday after its recent strong surge.  This might likely postpone RBI policy cutbacks. On the other hand, the US inflation outlook is still stable, which may have an impact on the US Fed's future policy On the daily chart, Nifty has created a bearish engulfing pattern that raises the probability of a bearish reversal. Call writers have established a strong position at 21,000 on the upper end. Put writers are highly prevalent at 20,800 and 20,900 on the lower end. Therefore, as long as it stays below 21,000, Nifty is anticipated to be primarily sideways to negative. A strong move above 21,000 would be necessary to start the uptre...

 Is the Paytm stock fall a buying opportunity or a cautionary sign? Let's Discuss an Interesting Topic: the Patym Stock Correction.Do you believe it's a good time to buy or a warning sign? Let's take a deep dive into this and figure it out! The largest digital ecosystem in India for consumers and merchants. The One 97 Communication (PAYTM) stock fell 77% from its exchange listing price and reached a low in the 435-440 Level. The market just saw a 20% drop.Following the announcement of the company's intention to reduce its small loan sector below Rs.50000. This event has investors questioning if the current drop is a buying opportunity or a red flag for the company. Technical Talk: Fibonacci: The Fibonacci retracement from the low of November 23, 2022 (438) to the high of October 20, 2023 (998.30).The stock found support at the 61.8% Fibonacci retracement level of 652 (also known as the golden ratio).  Moving Average:  On the daily chat, the stock of the chart also sho...

In the next two to three months, short-term traders should try to purchase the stock for a potential TGT of 1850–1870 while searching for a profitable setup.  The stock recently witnessed the Golden crossover on the daily chart and is trading above the 50 and 200 DEMA. It has provided a B/O from the falling trendlin e and Follow through Z one B/O at (1650–1660).  The stock nearly fell more than 23% from the ATH, which rebounded more than 15% from the numerous bullish candlestick pattern where the support of the   EXHAUSTION GAP  is seen. At this moment, the momentum indicator, RSI, is trading with a positive hidden divergence and ATH can be reached by looking at the current state of the stock.