Same Game PlanMarket is performing as per the trade plan more upside expected but soon it will hit the resistance level and a small correction may occur soon. So watch out guys!!
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DFMGI trade ideas
A Good RunDubai stock market is performing best in whole of GCC as of now. Surely in a bullish mode and as of now after breaking the resistance its holding it with todays doji candle market is bit indecisive but a small correction is healthy at the same time for the market. Over all in a uptrend!!
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At crucial support levelMarket is at a very crucial level as of now, 2490 is very important support level if this breaks we can see weakness in the market a further fall towards 2457 levels. With negative news about covid 19 market is very thin and trading with low volumes. Tomorrow is first trading day of the new year 2021 lets see how the market performs. Over all the market is in a uptrend and bullish I am expecting it will bounce from the support and start moving to the upside.
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Bull RunMarket is in a bull trend in other words its in a storng uptrend. Next resistance level is around 2640 i think market will slowly move towards it. With positive news around covid 19 vaccine international markets are reacting positively and moving upwards. Dubai stock market is also moving up and more upside is expected.
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Correction Time?Market is on a bull run but no market or stock can keep moving in one direction there is always a push phase and then a correction phase. So a correction is soon expected which will be healthy for the market. Immediate support levels are 2500 next is 2480 Resistance is at 2570 over all market is very bullish and this will be the chance to buy the dips.
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DFM Index - Take Your Profits!Hello friends, Dubai Financial Market has been up trending and currently testing the long term downtrend line around 2570 - 2600. This is a very critical zone since the 78.6% fib retracement lies there. Also, this was a support previously which could turn into resistance now. Lastly, RSI is indicating overbought in the daily and weekly timeframes.
I would suggest taking profits at this area and buy lower as marked in the chart. We will always have winners in any time though the heavy weightage stocks such as Emaar and Emirates NBD may correct in the short term.
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Strong UptrendDubai Stock Market is in a nice and steady uptrend. Next solid technical resistance at 2475 levels and immediate support at 2400 which is a psychological support a strong level is at 2390. Over all trend in international market is bullish as the vaccine news is pushing the markets to the upside. After the long weekend lets see how the market reacts to the news. Over all bullish and more upside is expected.
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Bull PowerMarket is clearly bullish and in a strong uptrend. Last week market finally broke the important and a psychological resistance of 2400 the best part is it have successfully retested and closed above 2400 level which is another indication of bullishness. Next resistance is at 2460 level we still have some space to move up.
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Bullish & ConfusingAs i had mentioned in my last update 2320 is a strong resistance zone, we can see 2 doji candles right at the resistance level. Sure market is in bullish mode but we need confirmation either market will correct it will 2285 and resume the uptrend or it makes a solid green candle tomorrow to clear the confusion. I think a retracement or correction will be healthy. Over all bullish market.
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Up is the wayMarket have to go up and either ways, either it goes directly at 2400 level or it comes back for a retest and then resumes the uptrend. Over all it looks bullish today it have made a doji candle right at the solid technical resistance level that is 2320. There are good chances of some correction at this level as it would be healthy for the market. Very bullish
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Good Day!!Another good day in the market, it got resisted around 2275-80 level but it have crossed major dynamic resistance level that is 200day ema the white line on the chart. I can see 2 scenarios tomorrow either market moves up to 2285 level and take a hold or it corrects itself down to support level around 2240 levels. Market is moving up for non stop for the last 5 days some correction is needed now. Over all bullish!!
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Nice Bounce!!!Market have most probably started a new uptrend we can see it making new highs a small retracement and again push to the upside will confirm the trend. It crossed 2 resistance levels today 1 is technical around 2196 2 is psychological 2200. Market is pushing up for the last 4 days now and we can expect a small correction any time. Market looks bullish!! back in the game!!
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Nasty ClosingMarket was trading around 2155 in last 5 mins of the session it dropped 20 points nearly. It clearly indicates market is not confident and did not want to hold any positions till the election fever is over. Its better not to trade when there is big news coming up in the market which can effect it. Tomorrow election results will start coming out lets see how the market reacts to it. Market is in a serious downtrend the next support is 2135-20 level i hope the market takes a bounce from there. Looks very bearish!!
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Do or DIeMarket is under pressure for weeks now clearly we can see its in a down trend. A good support level is around 2160 if this does not hold the next level is at 2135. Even with todays closing thought we can see a green candle its not not interesting as it got rejected at the immediate resistance that is around 2170. It will be very interesting to see how the market performs tomorrow as US election results will be announced in next 11 hours. I think with international markets in green and recovering from the recent losses it should follow the suit. Market will be very volatile if you are trading i recommend to trade with small quantities. Below 2200 it looks bearish to me.
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If we analyse weekly chart the uptrend is still intact and we are seeing a perfect doji candle at the support level. Good chances of market continuing its uptrend from this level. If 2185 holds up and if we can see a weekly candle close above 2220 it will be a good sign that market want to go higher. But at the same time if this level does not hold market can quickly slip to 2100 levels. Over all on a bigger time frame it looks bullish.
Retest and failedIts moving as per the analysis and am not liking it. I want to see market moving up infact all of us want to see it moving up. Next support level is at 2160 i hope it makes a U turn very quickly. Looks so bearish as of now ;(
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Market in DowntrendHeavily selling pressure in thursdays session. Unfortunately market have broken a good psychological support level of 2200. A closing at 2194 is not good for sure. Next week market can retest the new resistance of 2200 and may get rejected to go down further till 2160 level as thats the next support. Bearish for now!!
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Got RejectedInverted hammer right at the resistance level is a clear indication of rejection. Tomorrow there are good chances it may retrace to the downside, if it makes some prices action and keep above 2230 level surely it will break 2240 very soon. Else more down side expected.
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BIG DAY TOMORROWIt will be a nice test tomorrow to see if market can cross 2240 level in one go or it will get rejected. 2240 to 2245 was a strong support level lets see if bulls are so powerful that they can break this barrier tomorrow. I am again getting bullish in the market.
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Some Relief Finally market have bounced off!! but have the new trend started? NO!! it have just shown us some indication that 2200 level is holding. There are 2 scenarios from here, first market goes up to the previous support level that was around 2240 which will now act as a strong resistance if it passes through successfully and moves upside we can say uptrend have begun again.
Second Scenario, it can retest 2240 get rejected and come down to 2100 - 2120 level. SCARY!!!
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