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Crack The Code: Technical Insights on UAE’s Stock Market

Naranj Capital’s experts have conducted an insightful analysis on UAE’s stock market, specifically focusing on the FTSE ADX and DFM indices. Their analysis provides valuable predictions on the future movement of these indices, enabling investors to make informed decisions for both short-term and long-term investments. This detailed report is a must-have resource for traders looking to crack the code of UAE’s stock market and maximize their returns.

DFMGI TECHNICAL ANALYSIS (WEEKLY)

DFMGI-WEEKLY TECHNICAL ANALYSIS
DFMGI-WEEKLY TECHNICAL ANALYSIS

  • After a huge downfall, price took support at around 1700 level.

  • From there, price started forming Higher Highs and Higher Lows and gave us a clear indication that the trend had changed.

  • Then the price climbed up and reached to the 3750 level, which was its previous resistance level.

  • Price took a rejection from that level and made a short correction.

  • After consolidating for a while price again reached at 3750 level and this time successfully break through the resistance.

  • An Inverted Head & Shoulder pattern has been formed in this entire period.

  • Then the price came back to retest the breakout level and continued to move upside further.

  • At current market situation, it is expected that DFMGI may take support to the 4000 level and move higher afterwards.

FTSE ADX TECHNICAL ANALYSIS (WEEKLY)

FTSE ADX-WEEKLY TECHNICAL ANALYSIS
FTSE ADX-WEEKLY TECHNICAL ANALYSIS

  • After a huge upside rally, price took a rejection from around 10,180 level.

  • With a short retracement price started moving upside again.

  • This time the price recorded an All Time High at 10,670 level in Nov’22.

  • After that, we have seen a significant correction in the price. market sentiments were a bit negative as the price was forming lower highs repeatedly.

  • From the downside, 9,200 level has performed as a strong support level for the price. Price couldn’t manage to break the level downside till now.

  • Currently the price is standing near its support zone. If this level breaks downside then we will be witnessing a huge downfall.

  • For an upside rally, price has to break and sustain above the10,200 level successfully.

CONCLUSION

Candlestick chart analysis on UAE’s Stock Market with this expert insight on FTSE ADX and DFM indices can be a very useful tool to a trader to make informed investment decisions. UAE Stock Market, FTSE ADX, DFM.

FTSE ADX & DFM ANALYSIS - TRADINGVIEW UPDATE

التحليل الأسبوعي للمؤشر العام لسوق دبي المالي (DFMGI) by NaranjCapital on TradingView.com

مؤشر فوتسي سوق أبوظبي العام التحليل الأسبوعي by NaranjCapital on TradingView.com

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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