From Jul'22 low of INR 877 prices have retraced to Fibonacci 61.8% retracment level positioned at 1150 zone and formed a potential double top structure. Prices have also formed a Rounding Top pattern whose neckline is in the region of 1101-1100. The measured target for the pattern is coming in the region of 1050-1045 where its 200-EMA is also positioned
As per above observations prices are likely to hold below INR 1137 and fall towards INR 1050-1045 in the coming weeks.
Trading Strategy: Sell on cmp add on rise , keeping SL of 1137 look for the target of 1050-1045.
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subinkumar506
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sir suggest me about reliance ,havells,m& m I hold pe
nrjbhansali0
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sir i follow you since a year and every analysis you post has all the answers with a reason & pattern+ you are humble. Thank you for sharing knowledge.
Sonia-Singh
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wonderful idea
su99y
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I will surely going to hit your target
shivaraybiradar
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good analysis sir
Gettowin
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Wow 🤩 amazing capture
Whoharshdesai
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also monthly and weekly bearish rsi divergence
lokendraraghu1c
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very good analysis sir 👍👍
manum24
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Wonderful analysis, it's just that it's on the fib level plus support which is a bit of concern.
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