GRAPHITE INDIA: SHORT TERM BULL RUN EXPECTED

Updated
πŸ“Š Graphite India - Technical Analysis - 02/02/2024

Current Status:

  • Closing Price: 562.10 πŸ“ˆ
  • Fibonacci Level: 0.786 πŸŒ€


Yesterday's Trend:

  • Opening Price: Fibonacci Level 0.5 πŸŒ€
  • Movement: Upward to 0.786 πŸ“ˆ
  • Signal: Parabolic SAR - Buy πŸ›’


Key Points:

Entry Point: 567.95 πŸšͺ
Resistance Level: If trades above 567.95 πŸ›‘
Target 1: 576.20 or 575.95 🎯
Stop Loss: 536.60 πŸ”΄ / KEY FIBONACCI LEVELS

Recent Trends:

  1. Crossed 50-day MA on 30/01/2024 πŸ“ˆ
  2. Short-term Bull Run πŸ‚
  3. Increasing Volume πŸ“Ά



Indicators:

  • Static RSI: Middle Range ↔️
  • MACD: Expecting Crossover πŸ”„
  • Stochastic RSI: Upper Band Strength πŸ’ͺ
  • Fisher 9: Bullish Trend πŸ“ˆ


Conclusion:

Recommended for short-term entry in the current volatile market πŸŒͺοΈπŸ“Š


Disclaimer:

This analysis is for informational purposes only and does not constitute investment advice. Investing in stocks involves risks, including the loss of principal. Investors should conduct their own research or consult a financial advisor before making decisions. πŸš«πŸ’°πŸ”
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Trade closed: stop reached
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