The Shark pattern suggests 470 levels.
Price is bouncing off from 0.618% fib level.
Price action wise, it signifies double bottom breakout
Trading well above 50 DEMA comfortably.
Can potentially target 200 DEMA and AVWAP from the highs
Daily close above 412-420 could give us further confirmation for this view.
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Price is bouncing off from 0.618% fib level.
Price action wise, it signifies double bottom breakout
Trading well above 50 DEMA comfortably.
Can potentially target 200 DEMA and AVWAP from the highs
Daily close above 412-420 could give us further confirmation for this view.
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Trade active
390 support is held strong and the price is breakout out. Moving on expected lines so farTrade closed: target reached
Price did very well in June Series so far.. 470 done and trade closedNote
200 DEMA, Cloud bottom and the strong supply zone.. (470-490).. and the 50% fib level.. everything worked well to stop the price moving up further and the price is now below 450.. will await the retracement to consider fresh trades..
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.