Hello All !!
Posting on this Blog After a Long Time. Was Almost inactive on Blogs and FB, Working through WhatsApp with Limited Clients as of Now due to Restrictions in Man Power and Time Limits for Last 2-3 Years.
Now again Planning for Big Expansion of Our Forex Activities in coming Days. We will be Actively Operational in Next Few Weeks and Spreading through Every Corner of the World. We will be Live with our Analysis Support, Signal Services, Fund Management, Broking and Advisory For HNI and Ultra HNI Clients through out the World.
Now Coming Back to the Analysis Part ...
Today we are going to Discuss One Market, which is Going to Rally as the Index has Taken Breakout on Charts.
The Market That we are discussing Today is The AUSTRALIAN Market.
The Index That we will be Looking at is
S&P ASX 200 (AUSTRALIA)
Let's have a Look at the Chart :
After the Covid Lows, The Markets Recovered Breaking Pre Covid High But Were Struggling for a Long time and Were Reluctant to Move Higher. During Last 3 Years or so, the Index has spent time facing Resistance around 7642 Levels. While Doing it, We have seen that the Index has Formed a Inverted Head and Shoulder Pattern and in Last Few Months we can also see formation of a Bullish Flag Pattern.
The Breakouts are done and Now the Index has also crossed the Resistance level of 7642. The Breakout is Confirmed as the weekly closing is Far away from the Neckline and Will be safer here.
The Breakout is of almost 1000 points as per the H&S Breakout structure. considering the Breakout above 7642 and The Target of 1000 points above the Neckline. We Can Say The Index will show The Levels of 7999 - 8222 - 8666 Levels in coming Months.
The Support in This Case will be a Close below 7400 Levels, which is Approx 300 Points from Current Levels. The Risk Reward here is Approx 1:3 Kind of thing, which is Fine for a Trade.
The Recommendation here is :
BUY ASX 200
Buy Range 7680 - 7480
Stoploss : close Below 7380
Take Profits : 7999 - 8222 - 8666
Risk : Reward = 1 : 3
Risk : Approx 300 Points From 7680 Levels
Reward : Approx 1000 Points From 7680 Levels
Follow Risk Management
Do Not Jump in Without Considering Risk Management
Do Not Trade without Guidance of a Financial Adviser.
Disclaimer :
The Analyst, Shinde Atul S. is a Technical Analyst and Certified Investment Adviser having an Experience of More than 17 years in International Market Analysis and Fund Management for Clients All Over the World. The Analyst is Considered as Global Markets Expert. DO Not Follow Blindly if you are new here, Just follow updates and Track the Trade given before Jumping into the Trade.
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