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Crude price testing the resistance of pattern.
Till the price is trading below 2023 high ($94.99), crude is bearish.
Nifty can run for another 200Points
Before that a small pull back is possible.
On the pullback will take another entry
Profit booking is underway in PFC, with investors locking in their profits.
Keep a TSL @ 231.75 (spot) and trail profit
SL above 8740
Targets 8420, 8200 (even expecting as low as 7950 as per the pattern theoretical target)
Crude oil: a bearish pattern detected.
Waiting for validation. Rejection at $94 is crucial for confirmation.
*Market Pulse – 18 Mar 2026*
*Global Drivers*
• Global markets are stabilizing after recent volatility, with no fresh escalation overnight in the Middle East conflict, allowing risk sentiment to cool slightly.
• Asian markets are trading mixed — Nikkei and select indices showing mild recovery, while broader sentiment remains cautious.
• Crude oil remains elevated but off extreme panic highs, continuing to act as the primary macro driver for global markets.
• US markets closed mixed, indicating selective buying but no strong risk-on confirmation yet.
*India Macro & Flow*
• GIFT Nifty indicates a flat to slightly positive start, suggesting consolidation after recent sharp moves.
• Nifty is trading near recent swing support zone (around 24k psychological region) — market attempting short-term stabilization.
• USD/INR remains elevated near recent highs, reflecting continued pressure from crude and dollar strength.
• FII selling pressure persists on a broader trend, though near-term intensity has moderated, with DII support visible.
*Stock & Sector Alerts*
• Oil & gas and energy-linked companies remain in focus as crude volatility continues.
• Aviation, paints, chemicals and consumption-linked sectors remain sensitive to input cost pressure.
• PSU, defence and capital goods stocks continue to show relative outperformance in a weak market.
*Cross-Asset Snapshot*
• Crude Oil: elevated (key macro driver)
• Gold: supported as hedge
• Dollar: firm globally
• Global equities: stabilizing but fragile
*Overall Sentiment*
• Opening bias: flat to mildly positive
• Primary driver: crude oil direction and geopolitical headlines
• Key risk: sudden escalation in conflict
• Market behaviour: consolidation with sharp intraday swings
Markets remain macro-dominated, where oil, currency and global headlines are driving price action more than internal strength.
*Absolute Analytics*
