Education
Long
Long
CMP: 5,193 | Structure: Multi-year uptrend testing rising trendlWhat The Chart Is Telling Us
Cummins India has been in a beautiful long-term uptrend — from 2,580 lows to 6,100 highs, price has respected multiple ascending channels along the way. This is the kind of chart where every meaningful pullback has been a buying opportunity for months.
After topping at 6,100, price has corrected into a key confluence zone around 5,000-5,200, where three important technical levels are meeting:
The steeper ascending channel (from recent lows)
The broader multi-month rising trendline
Prior resistance-turned-support zone
Currently price is sitting right on this confluence — a make-or-break decision zone. The next move from here will define the medium-term trend.
The Critical Level — Why 5,000 Matters
👉 5,000 is the trend defense line.
Confluence of:
Multiple rising trendlines converging
Psychological round number
Prior breakout level (now support)
Recent higher-low structure
Above 5,000 = uptrend intact, dips are buyable
Below 5,000 (daily close) = trend weakness confirmed, deeper correction likely
⚠️ Not investment advice. Levels are technical observations. Manage your own risk. 
Long
Long
XAUUSD – Weekly Recap: Gold Pulls Back From 4,696 XAUUSD – Weekly Recap: Gold Pulls Back From 4,696
Gold is ending the week with a strong but important correction.
Earlier this week, buyers pushed gold aggressively higher and price reached the weekly high around 4,696. This confirmed that the broader recovery structure remained strong, but the rejection from that high also showed that sellers were waiting at the upper liquidity area.
Now price is trading around 4,454 after a sharp pullback. This is not a full bearish reversal yet, but it is a warning that gold needs to stabilize above the next support zones before buyers can continue the trend.
WEEKLY TREND SUMMARY
This week started with gold holding a bullish structure above key support.
Buyers defended the pullback zones, pushed through short-term resistance, and moved price toward the upper liquidity area near 4,650 – 4,696.
However, after reaching the weekly high, gold failed to hold strength and rejected sharply. That rejection created a short-term bearish reaction and brought price back toward the Fibonacci liquidity zone around 4,400 – 4,420.
So the weekly story is clear: buyers controlled the first part of the week, but sellers controlled the reaction from the top.
Now the market is in a decision phase.
FUNDAMENTAL VIEW
Gold remains sensitive to U.S. inflation data, Fed expectations, U.S. dollar movement, Treasury yields, and geopolitical headlines.
When the market prices in a more hawkish Fed or stronger inflation risk, the dollar and yields can recover, which usually puts pressure on gold.
At the same time, gold still has support from safe-haven demand and the broader bullish momentum from the previous rally. This is why the next reaction around support is very important.
TECHNICAL VIEW – SMC + FIBONACCI
From an SMC perspective, gold swept into the upper liquidity area near 4,650 – 4,696 and rejected.
This rejection shows that the market may need a deeper correction before the next bullish attempt.
The first key zone to watch is the Liquidity + Fibonacci area around 4,400 – 4,420. If gold holds this zone and forms a bullish reaction, buyers may try to recover toward 4,580 – 4,600.
The next resistance is the Sell Zone Resistance around 4,580 – 4,600. If price retests this area and rejects again, sellers may continue to pressure gold lower.
The deeper buy zone is around 4,200 – 4,240. This is the larger swing support area if the current correction expands.
KEY PRICE ZONES
Current price: 4,454
Weekly high: 4,696
Liquidity + Fibonacci support: 4,400 – 4,420
Sell Zone Resistance: 4,580 – 4,600
Upper liquidity resistance: 4,650 – 4,696
Buy Zone Swing: 4,200 – 4,240
Short-term bearish pressure valid: Below 4,580
Recovery confirmation: Above 4,600
Bullish continuation confirmation: Above 4,696
Deeper correction risk: Below 4,400
TRADING SCENARIOS
Buy Scenario – Support Reaction
Buy Zone: 4,400 – 4,420
Entry: Bullish rejection, liquidity sweep, lower-timeframe CHoCH, or strong reaction from the Fibonacci support zone
SL: Below 4,400 or below the nearest swing low
TP1: 4,500
TP2: 4,580 – 4,600
TP3: 4,650
Sell Scenario – Resistance Reaction
Sell Zone: 4,580 – 4,600
Entry: Bearish rejection, failed breakout, or lower-timeframe bearish CHoCH
SL: Above the rejection high
TP1: 4,420
TP2: 4,400
TP3: 4,240
Deeper Buy Scenario
Buy Zone: 4,200 – 4,240
Entry: Wait for strong bullish confirmation from the swing support zone
SL: Below 4,200
TP1: 4,400
TP2: 4,580
TP3: 4,650
MY VIEW
Gold had a strong bullish week, but the rejection from 4,696 changed the short-term picture.
The broader structure is not completely bearish yet, but buyers must defend the 4,400 – 4,420 zone. If this area holds, gold may recover and retest 4,580 – 4,600.
If gold fails below 4,400, the correction may extend deeper toward 4,200 – 4,240 before buyers return.
For now, I do not want to chase gold in the middle. The clean plan is to wait for a reaction from support or a rejection from resistance.
Gold is still in a larger recovery structure, but the next move depends on whether 4,400 can hold.
Do you think buyers will defend 4,400, or will gold correct deeper before the next bullish wave?
Long
#TCSPrice Action & Structure: The daily candle opened at 2,272.00, reached a high of 2,348.50, and a low of 2,263.30, triggering a fresh BUY 2342 signal after reclaiming key dynamic support.
Upside Targets & Resistance: Immediate overhead projection targets sit at T1 (2,401.15), T2 (2,433.70), and T3 (2,486.35), with intermediate structural resistance levels marked at 2,391.00, 2,428.00, and 2,435.10. #INFYInfosys Limited (INFY) on the daily chart is currently trading around 1,144.00 INR (+2.99%), surging off a Higher Low (HL) pivot near 1,123.00.
Price Action & Structure: The daily candle opened at 1,123.60, reached a high of 1,145.00, and low of 1,123.30, triggering a fresh BUY 1144 signal following recent consolidation.
Upside Targets & Resistance: Immediate overhead projection levels sit at T1 (1,145.20), T2 (1,154.20), and T3 (1,168.70), with key structural resistance marked higher up at 1,158.90 and the range high OL.
Key Support Levels: Downside structural support is established at 1,130.70, 1,139.30, LSL 1,103.00, and HSL 1,081.95, with major long-term base support down at 1,043.40. #OFSSPrice Action & Structure: The daily candle opened at 11,876.00, reached a high of 12,275.00, and low of 11,876.00, executing a strong green surge and triggering a BUY 12190 signal that reclaims the structural high (OL at 11,916.00).
Upside Targets: Immediate upside projection levels sit at T1 (12,037.15) (already crossed), T2 (12,112.00), and higher target T3 at 12,233.15. #TATASTEELTata Steel Limited (TATASTEEL) on the weekly chart is currently trading around 186.50 INR (+1.91%), consolidating in a tight range following a corrective pullback from its peak near 220.00.
Price Action & Structure: The weekly candle opened at 184.15, reached a high of 190.25, and touched a low of 183.06, currently hovering around the SELL 187.55 signal level and just above the BUY 189.7 pivot zone.
Key Support Levels: Immediate downside targets and support levels are positioned at 183.41, T1 (182.50), T2 (179.85), and T3 (175.60), with major structural support near the previous swing low (OL).
Overhead Resistance: Overhead structural resistance levels are marked at 190.50, 193.31, 196.15, LSL 194.70, and higher major resistance at HSL 212.05. #CERACera Sanitaryware Limited (CERA) on the weekly timeframe is currently trading around 5,654.50 INR (−3.60%), showing signs of a corrective pullback after testing overhead resistance.
Price Action & Structure: The stock opened at 5,865.50, reached a high of 5,938.50, and dropped to a low of 5,600.00, following a recent "SELL 6047" signal near the swing peak.
Key Support Levels: Immediate downside support levels sit at T1 (5,667.2), followed by T2 (5,485.0) and T3 (5,190.2), with major structural support near the previous low around 4,400.00 (OL). #RELIANCEReliance Industries Limited (RELIANCE) is currently trading near 1,287.0 INR, reflecting a short-term bearish pull-back (−2.20%) on the 5-minute/short-term chart.
Key Levels & Price Action: The stock opened at 1,316.6 and hit a high of 1,320.0 before dropping to a session low of 1,280.0, where immediate support is currently holding.
Overhead Resistance: Immediate dynamic resistance lies at 1,298.1 (middle range) and higher up at 1,316.6–1,320.0.
Downside Targets & Support: A sustained breakdown below the 1,280.0 support level risks further weakness toward T1 at 1279.25 and down into the 1,260–1,270 zone. The Hidden Trap Behind “Healthy” PullbacksA market rarely moves in a straight line. Even strong trends pause, retrace, and test previous levels before continuing. That retracement is where many traders look for an entry, but it is also where things can get confusing.
A reversal can look like an ordinary pullback in its early stages. If you enter simply because price has reached a support, resistance, or Fibonacci level, you may end up entering just as the market is preparing to move in the opposite direction.
The key is not finding the perfect pullback level. It is understanding what price is doing during the retracement.
Start by Comparing the Moves:
One of the easiest ways to judge a pullback is to compare it with the move that came before it. Suppose gold makes a strong move higher with large candles and little hesitation, then begins moving lower.
If that decline is slow, overlapping, and full of pauses, sellers are not showing the same urgency that buyers showed during the rally. But if the decline suddenly becomes aggressive, with large candles pushing through levels quickly, the situation deserves much more attention.
A correction should not automatically be expected to behave like a weak move. Sometimes it becomes the strongest move on the chart.
Pay Attention to the Swing Points
The important question during a pullback is whether the original market structure is still alive. In an uptrend, the previous significant low matters because it represents an area where buyers previously managed to defend price.
If price pulls back toward that level and holds, the bullish structure remains intact. But if sellers break through it with conviction, continuing to call the move a “pullback” can become an excuse to hold onto a trade idea that is no longer valid.
The same logic applies to a downtrend. If buyers break an important previous high, the bearish structure is being challenged.
The Level Is Not the Signal:
This is where many traders get trapped. They mark a support zone, wait for price to reach it, and immediately buy because the chart looks “perfect.”
But a level only tells you where something could happen. It does not tell you what will happen.
When price reaches the area, watch the reaction. Is there rejection? Does selling pressure slow down? Does price form a higher low and reclaim a nearby swing? Those clues tell you much more than simply seeing price touch a support line.
Watch the Effort and the Result:
Another useful clue is the relationship between how aggressively price moves and how much progress it actually makes.
Imagine sellers produce several strong-looking candles, but price barely manages to move lower before buyers start absorbing the pressure. That is different from a few aggressive candles that push price through multiple important levels.
The market is constantly showing you a relationship between **effort and result**. When the opposite side puts in a lot of effort but achieves very little, the pullback may be losing strength. When the opposite side achieves a lot with little hesitation, the original trend may be in trouble.
Stop Trying to Catch the Exact Bottom:
Many traders try to predict the exact candle where a pullback will finish. They see a familiar support level and enter immediately, hoping to catch the reversal from the lowest possible price.
You don't need to predict the bottom.
Your job is to wait until the market provides enough evidence that the original trend is becoming active again. That could be a rejection followed by a higher low, a small structure break and retest, or a strong continuation move after the level holds.
You might enter slightly later, but you are making the decision with more information.
Think of Every Pullback as a Test:
A useful way to look at a pullback is to treat it as a test between the two sides of the market.
The trend is essentially being challenged. If the counter-trend move remains weak and the important structure survives, continuation becomes more believable. If the opposing side becomes increasingly aggressive and starts creating structure in the opposite direction, the original trend is losing control.
This is why a pullback should never be judged by depth alone. A 50% retracement can be completely healthy in one situation and extremely dangerous in another.
The Simple Rule:
Before entering a pullback, don't ask, “Where should I buy or sell?”
Ask, “What evidence would prove that this pullback is actually ending?”
That change in thinking forces you to read the market instead of blindly trading a level.
The best pullbacks are not necessarily the deepest ones or the ones that touch the most popular Fibonacci number. They are the ones where the trend survives the correction and price gives you evidence that the original direction is returning .
By @BrightRally_Research on @TradingView Education 
XAUUSD — 4,686 Looks Like the Trap XAUUSD — 4,686 Looks Like the Trap
Gold is finally showing that tired feeling after such a strong run into the three-month high area.
Price pushed higher inside a clean bullish structure through August, with several BOS moves showing buyers were in control. But after gold stretched into the upper channel and started holding below the 4,686.140 liquidity area, the rhythm changed. The market is no longer climbing smoothly. It is moving sideways under resistance, almost like price is catching its breath while sellers quietly test buyer strength.
For newer traders, this is the important part: after a big bullish expansion, a pullback does not mean the whole trend is finished. But when price fails to hold above 4,600 and keeps rejecting below the upper liquidity zone, the market often wants to rebalance lower before the next clean move.
My main view is bearish for a correction while gold stays below 4,686.140. The macro background also supports caution, with US inflation matching expectations, Fed rate-hike risk still alive, and traders waiting for the Fed Chair’s Jackson Hole speech. That kind of environment can make buyers hesitate near the highs.
If gold pushes back toward 4,640 - 4,686 and rejects, I would see that as a possible liquidity trap before price pulls toward the major pullback support around 4,450 - 4,480. That zone is important because it sits under the previous bullish leg and may be where buyers try to reload.
This bearish correction idea becomes weak only if gold reclaims 4,686.140 and holds above it. Until then, I see the upper zone as resistance, not clean continuation.
Key price zones to watch
Current reaction area: 4,600 - 4,610
Main supply / liquidity trap zone: 4,640 - 4,686.140
Bearish confirmation zone: clean hold below 4,600
First downside target: 4,563 - 4,570
Main pullback support: 4,450 - 4,480
Deep demand reaction zone: 4,000 - 4,020
Upper liquidity if buyers recover: 4,686.140
Invalidation: clean reclaim and hold above 4,686.140
Do you see this as gold preparing for a healthy pullback into 4,450 - 4,480, or do buyers still have one more sweep above 4,686 before the correction starts? Short 
XAUUSD – Gold Below 4,600, Decision Zone Ahead XAUUSD – Gold Below 4,600, Decision Zone Ahead
Gold is entering a very important short-term decision area after losing momentum near the upper part of the rising channel.
Price is currently trading around 4,602 after a failed continuation above the recent resistance area. The market is still inside the broader bullish channel, but the short-term structure is no longer clean. Buyers need to defend the next demand zone, or gold may move into a deeper correction.
FUNDAMENTAL VIEW
Gold slipped below the 4,600 area during the early European session as traders focused on U.S. PCE inflation data and the Jackson Hole event.
Stronger inflation expectations can support the idea of a more hawkish Fed, which may lift the U.S. dollar and Treasury yields. This usually puts pressure on gold because gold does not offer yield.
At the same time, geopolitical headlines remain important. Iran’s conditions for reopening the Hormuz route may affect oil prices and inflation expectations, which can create sharp volatility for gold.
So the current market is not simple. Gold has bullish structure from the previous rally, but short-term pressure is building before the next big catalyst.
TECHNICAL VIEW – SMC + FIBONACCI
From an SMC perspective, gold has failed to hold the recent upside momentum after reaching the upper section of the channel.
The chart shows a short-term market structure shift around the 4,600 area, with price now moving sideways after a bearish reaction. This means buyers are no longer fully in control in the very short term.
The first important downside area is the expected buy zone around 4,528 – 4,544. This is the zone where buyers may try to defend the broader bullish channel. If price sweeps into this area and reacts strongly, gold may recover toward the expected selling zone above.
The expected selling zone is around 4,650 – 4,670. If gold retests this area and fails to break higher, sellers may step in again.
The larger structure remains bullish while price stays inside the rising channel, but if 4,528 fails, the correction may extend deeper.
KEY PRICE ZONES
Current price: 4,602
Immediate decision area: 4,600
Expected buy zone: 4,528 – 4,544
Expected selling zone: 4,650 – 4,670
Upper resistance: 4,700 area
Major lower liquidity: 4,300 – 4,320
Bullish reaction valid: Above 4,528
Short-term recovery confirmation: Above 4,625
Stronger bullish continuation: Above 4,670
Invalidation for short-term bullish reaction: Below 4,528
TRADING SCENARIOS
Buy Scenario – Support Reaction
Buy Zone: 4,528 – 4,544
Entry: Bullish rejection, liquidity sweep, lower-timeframe CHoCH, or strong reaction from the demand zone
SL: Below 4,528 or below the nearest swing low
TP1: 4,600
TP2: 4,650 – 4,670
Sell Scenario – Resistance Reaction
Sell Zone: 4,650 – 4,670
Entry: Bearish rejection, failed breakout, or lower-timeframe bearish CHoCH
SL: Above the rejection swing high
TP1: 4,600
TP2: 4,544
TP3: 4,528
Breakdown Scenario
Condition: Clean break and hold below 4,528
Target: Deeper correction toward the lower channel and liquidity zones
MY VIEW
Gold is not fully bearish yet, but short-term momentum has weakened.
The key area for me is 4,528 – 4,544. If buyers defend this zone, gold may recover and retest 4,650 – 4,670.
But if gold loses this buy area, the current correction may become deeper and the market may look for lower liquidity before buyers return.
I do not want to chase gold in the middle around 4,600. I prefer waiting for price to either sweep the buy zone or reject clearly from the selling zone.
Gold is still inside the bigger bullish channel — but the next reaction around 4,528 – 4,544 will decide if buyers are ready to continue.
Do you think gold will defend the buy zone and recover, or will sellers force a deeper correction first?
Short 
XAUUSD — Bullish Wave 5 Setup From Buy FVGXAUUSD — Bullish Wave 5 Setup From Buy FVG
Gold is starting to build a bullish recovery structure after defending the lower area near 4,570–4,580. From Kelly’s view, the current chart suggests that XAUUSD may be forming a new Elliott Wave upside sequence, with the latest pullback acting as wave (2) before price attempts to continue higher into wave (3), wave (4), and finally wave (5).
The key idea is simple: if gold continues to hold above the Buy FVG zone, the bullish structure remains valid and the next upside target may open toward 4,655 first, then 4,705–4,712.
⟡ Market Structure
Gold previously moved inside a descending correction channel, but the latest reaction from the lower zone shows that sellers are starting to lose pressure. Price is now trading around 4,603, right above the Buy FVG zone near 4,590–4,598.
If buyers continue to defend this area, gold may complete wave (2) and start pushing into wave (3). The first breakout area to watch is the Buy zone wave 5 / reaction zone around 4,622–4,628. A clean break above this zone would confirm stronger bullish momentum.
Above that, the next important target is the Fibonacci + FVG zone around 4,654–4,660, which also matches the projected wave (3) area. If price later pulls back and holds above structure, the final upside target remains the Target wave 5 zone near 4,705–4,712.
➤ Key Levels
◌ Current price area: 4,603
◌ Buy FVG support: 4,590–4,598
◌ Wave (2) invalidation area: below 4,570
◌ Buy zone wave 5 / breakout zone: 4,622–4,628
◌ Fibonacci + FVG target: 4,654–4,660
◌ Main wave 5 target: 4,705–4,712
⌁ Elliott Wave View
The chart is showing a possible bullish 5-wave recovery structure.
Wave (1) may have formed from the lower reaction zone toward 4,615–4,620.
Wave (2) appears to have corrected back into the lower FVG area near 4,570–4,580.
If this low holds, wave (3) can develop toward 4,654–4,660.
After that, wave (4) may create a small pullback toward 4,622–4,628.
The final wave (5) target remains near 4,705–4,712.
This is why Kelly is not focusing on chasing sells at the current level. The cleaner plan is to wait for confirmation that buyers are defending the FVG and that price can break back above the short-term correction structure.
▸ Trading Scenario
Preferred bullish scenario
Entry: Buy around 4,590–4,598 if price gives bullish confirmation from the Buy FVG zone
Stop Loss: Below 4,570
Take Profit 1: 4,622–4,628
Take Profit 2: 4,654–4,660
Take Profit 3: 4,705–4,712
Alternative entry: If gold breaks above 4,622–4,628 and retests this zone as support, buyers may look for continuation toward the Fibonacci + FVG zone.
◌ Invalidation
The bullish view becomes weaker if gold breaks below 4,570 and fails to reclaim the Buy FVG zone. In that case, the wave (2) structure may fail and price could continue the correction lower before any new bullish setup appears.
⌁ Kelly’s View
Kelly’s main view is bullish as long as gold holds above the lower FVG support. The market is still inside a recovery attempt, and the Elliott Wave structure suggests that a new upside sequence may be forming.
If buyers defend 4,590–4,598 and price breaks above 4,622–4,628, gold may continue toward 4,654–4,660, then potentially complete wave (5) near 4,705–4,712.
Do you think gold will confirm wave (3) from here, or will price retest the Buy FVG one more time first? Long 
