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DFMGI

Dubai Financial Market - Has it bottomed?Clearly it could not hold above 1900 levels and selling pressure was witnessed in early hour of trading. Interesting part is it bounced right at the 26 days tenkan sen (base line in red) which is ichimoku's important indicator and a medium term trend line. Also 1850 is a 50% fib level from the current rally. Good chances that market can bounce off from here to the next higher levels. There is also possibility that it cant hold and we may go further down to test the swing low that is 1800 level. Major news expected this week which may also direct the markets direction. Lets see how the market goes tomorrow i am still bullish on this one. Happy Trading Hit like & Follow if you liked it.
DFM:DFMGILong
by stalkstock
Dubai Financial Market- Is the correction done?If we take a very closer look that is the very recent rally that is 1800 to 2040 we can see from the FIB levels that it have retraced 61.8% which is a important level and it have managed to close above 61.8%. If this is to be correct, we have to see the confirmation candle again which have to be above 1923 to confirm that the correction is done and uptrend should resume. This would be my second scenario for looking at the market from bull perspective surely i am long biased. So tomorrow is a decision day to know the direction of the market, Happy Trading :) Hit like & Follow
DFM:DFMGILong
by stalkstock
Amanat Holdings - DfmIf you had check my earlier idea on this there was heavy buying just before the market closed indicating institutional buying. Since thn this stock is on a bull run. Thursday it gave a nice big green candle but it was immediately rejected by 200 ema acting as a dynamic resistance. Currently the price is in a channel and lets wait for it to break and close above the 200 ema. It may retest the 200 ema ones it break upwards and can resume it journey to the up trend. Till thn lets wait and watch this stock. Happy Trading :) Hit Like & Follow
DFM:AMANAT
by stalkstock
Dubai Financial Market - Tricky situationThe market witnessed selling pressure till 12 noon and it bottomed out for the day at 1867 zone. We can clearly say that it have visited this level last week and its a important FIB level of 38.2% however the market managed to close above 1900. Now the question is are we still in uptrend ? In my opinion we are still in short term uptrend at the same time we are witnessing a retracement of 38.2% from the recent really. We need a confirmation sign to see if the retracement is done for this rally to move more upwards. If in tomorrows session we can make a solid green candle and a close above 1923 we can say the the uptrend have resumed and we are looking to make another higher high. Another Senario is we test the next bottom of this uptrend 1803 that is also at 61.8% FIB which is again a very important level in bull market. Happy Trading guys :) If you have learned something from this idea Hit like & Follow !
DFM:DFMGILong
by stalkstock
Dubai Financial Market - In cycle?The index is in short term up trend but stuck in a range for the last 1 week. As we can see the rally started from the low of 1680 area and made a high of 2039.64, if we closely count the period its taking to make new highs and retracements it gives me a cycle of 7 days up and 5 days correction. IF we go with this cycle it can potentially give a breakout on sunday or monday on either sides. Since we are on a short term uptrend i am biased on the upside. Also to make a note that its taking support at 38.2% FIB levels as of now. Next Immediate support level is 1820 area lets wait and watch the market to decide on the direction. My positions are still open and will decide upon the breakout. Happy Trading Hit like & follow
DFM:DFMGILong
by stalkstock
Dubai Financial Market - More up? The market sell off yesterday with most of the stocks making a daily limit down of 5 % with fears of current virus conditions on the economy more pressure came as saudi markets opened in red and sold off. With todays closing in DFM it have found support at fib level of 38.2% retracemnt from the recent highs. The current short term trend of the index is up trend making higher highs. In a trending market a correction of 38.2% or 50% of previous rally is considered as a healthy correction. Now the question is after this beautiful hammer candle at the support level are we going down or up ? in my opinion we need a confirmation candle to move more upside, If we can close anywhere between or above 1980 to 1985 tomorrow would be considered as strong signal to move more upward anything below would be a weak signal. I didnt close my positions in yesterdays panic selling as i knew we can expect a short correction. So i will be looking to sell later this week or next. Happy trading :)
DFM:DFMGILong
by stalkstock
Dubai Financial Market - IndexI see index is under pressure it could not resume its rally due to the macro factors one of which is pressured oil prices and second is due to the virus situation. It has to show some strength tomorrow to resume its really. Near term support level is at 1835-1840 zone. To confirm this rally we need a solid close above the recent high of 1942.95 or i can see market side ways till a major news comes out. Lets wait till tomorrow to know the direction.Happy trading! HIt like & Follow
DFM:DFMGI
by stalkstock
Dubai Financial Market - INDEXThe index was powerful today with most of the stocks in green, it gave a nice and deceive breakout candle i see a small resistance at 1994 area. This is a important high as of today as this is the first high after hitting to the lowest point this month. Hopefully we see more positivity and the index pushes higher. Index is about the test 50 ema soon also RSI is just about to touch 50 which is important level to cross for short term up trend. Happy Trading
DFM:DFMGILong
by stalkstock
4
Deyaar - DfmBought Deyaar at 0.235 the reason for buy was the price was making higher highs and in short term up trend. On ichimoku indicator all the lines were on my side and trade was looking positive. The price have retraced and closed at 0.233 target is the recent highs 0.242 to make profits. I see a green bar on 1 hour chart hopefully the price we go up from here as the retracement is done as its bouncing of at tenkan sen, We see price action tomorrow to book the profit or cut the losses. Happy trading Like Share Follow
DFM:DEYAARLong
by stalkstock
5
Dubai Financial Market IndexThe index is heavly over sold and in a serious down trend since beginning of Jan 2020 almost 41% down from the Jan peak! i see a pin bar on a weekly chart. Have we reached bottom? may be we can see a solid green candle to say that short term uptrend or a retracement is in progress....i wish to see the index to resume uptrend very soon ...very soon above 200 ema. Lets keep a watch, i you have any ideas on this please do share with me. Happy trading !
DFM:DFMGI
by stalkstock