Will Bitcoin explode Nifty? – HDFC Bank target and Gold’s $5,005 reversal [Video]
|In this video, we explore whether the recent strength in crypto could be signaling a broader breakout in equities. The discussion begins with a quick technical review of HDFC Bank along with opening remarks on the current structure of the Nifty Index.
We then examine Tata Steel’s intraday Elliott Wave counts following a possible ending diagonal scenario. The video also highlights Bitcoin’s explosive rally from 66K to around 71,500, a move that unfolded broadly in line with expectations discussed earlier.
We revisit the Nifty Index toward the end to assess the latest developments before concluding with the impressive bounce in COMEX Gold toward the 5,005 level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.