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Candlestick Analysis

Positional or Long Term Opportunity in ITCGo Long @ 327.8 for Targets of 357, 377, and 423 with SL 309.45 Reasons to go Long : 1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.5 Fibonacci level. 2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.5 Fibonacci level. 3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
NSE:ITCLong
by Nimish_Ghagare
NIFTY is still weak and can break below anytime sooner$ As we can see NIFTY had been weak throughout the day despite getting rejected from the demand zone and the only hope is because it could maintain itself above the demand zone else a massive sell off could have taken place so now as soon as NIFTY breaks below the demand zone, that would potentially act as a supply zone giving fuel to the fire and exceeding weakness so plan your trades accordingly and keep watching the important zones.
NSE:NIFTY
by Kaushalfin
NIFTY50 // BULLISH ENGULFING // 4HR TFHey folks, I am looking here at the 4hr TF of Nifty 50 with EMA 50. A visible Bullish engulfing on the 4hr tf has formed today above 50EMA, confirming the support of the moving average. I know it is not a perfect bullish engulfing some of you might say, because of current 4hr candle open was not below previous one close. But in Chart analysis there is a rule that you to be versatile and flexible regarding these patterns, so it can be said that the two said price points are marginally close to consider this a engulfing. Also, seeing little angle of the previous candle lower wick ( a good long one) it can be interpreted that the buy orders absorbed the good qty of sellers. thus, I am going for a small long position in Nifty CE for next 4hrs candles till expiry of 10feb. NIFTY 10FEB 26000CE. Now just hoping for the "TRUMP" element to stay put down over the weekend.🤞🏼 :) Thanks. Happy Trading.
NSE:NIFTYLong
by kakarot_UI
Positional or Longterm Opportunity in Triveni TurbineGo Long @ 506.5 for Targets of 619, 670, 721, and 818 with SL 462 Reasons to go Long : 1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.5 Fibonacci level. 2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.5 Fibonacci level. 3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
NSE:TRITURBINELong
by Nimish_Ghagare
Positional or Longterm Opportunity in BEMLGo Long @ 1838.1 for Targets of 2008.7, 2179.3, 2349.9, and 2520.5 with SL 1667.5 Reasons to go Long : 1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.618 Fibonacci level. 2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.618 Fibonacci level. 3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
NSE:BEMLLong
by Nimish_Ghagare
Positional or Longterm Opportunity in HBL EngineeringGo Long @ 794.1 for Targets of 867.05, 940, 1012.95, and 1085.9 with SL 721.15 Reasons to go Long : 1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.382 Fibonacci level. 2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.382 Fibonacci level. 3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
NSE:HBLENGINELong
by Nimish_Ghagare
Decoding Today’s Price Action on a Major Event Day(Union Budget)Is today’s market fall because of a negative budget surprise? Maybe yes, maybe no. That debate doesn’t help much. But what does help is understanding that price action had already started preparing for this move nearly 10 days ago. Candlesticks do speak — But only to those who have the patience to listen . Here's what they announced in advance: Event days might trigger big moves — but structure prepares them in advance to facilitate big price movements
NSE:NIFTYShort
by Kartikeya_Panchapakesan
Positional or Long-term Opportunity in Piramal PharmaGo Long @ 203.6 for Targets of 229, 244, 259, and 287.1 with SL 186.9 Reasons to go Long : 1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.5 Fibonacci level. 2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.5 Fibonacci level. 3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
NSE:PPLPHARMALong
by Nimish_Ghagare
1
XAUUSD – Historic Volatility Doji at 1.618 | Exhaustion SignalXAUUSD – HTF Exhaustion at 1.618 | Major Volatility Signal Formed GOLD HAS PRINTED ITS BIGGEST DOJI IN ENTIRE HISTORY OF DAY CANDLE NEARLY 490$ FROM LOW TO HIGH AND ENDED WITH INDECISION. LETS SEE WHAT HAPPENS NEXT . WAIT FOR LOW AND HIGH OF DOJI.......? Gold has reacted precisely from the 1.618 Fibonacci extension zone (~5600), where price printed a high at 5597.04 and faced strong rejection. The current Daily candle is forming an exceptionally large indecision candle (Doji-like structure) after a strong impulsive move. With an intraday range of nearly 490$, this candle highlights clear exhaustion and aggressive profit-taking at premium prices. Technical Perspective Clear rejection from the 1.618 extension resistance Strong volatility spike following a vertical price expansion Daily candle structure suggests weakening bullish momentum Key HTF Levels to Watch Resistance / Supply: 5580 – 5615 Immediate Reaction Zone: 5350 – 5400 Major Support / Rebalancing Area: 5000 – 4900 HTF Value Area Low: Below 4900 (only if bearish momentum accelerates) Expectation (Next Sessions / 1–2 Weeks) As long as price remains below the 1.618 rejection zone, probability favors: Consolidation or corrective price action Gradual rotation toward 5000–4900 HTF demand No immediate V-shaped recovery unless strong acceptance above 5600 is seen
FX:XAUUSD
by FOREXPILOTPRO
1
NIFTY at MAKE or BREAK AREA!!As we can see NIFTY has finally reached it trendline resistance which previously acted as a trendline support and an immediate supply zone can also be seen around 25500 so any signs of rejection could show strong weakness on the other hand if manages to break and sustain above 25500 then we may see another strong upmove in NIFTY as it would not only break the supply zone but also would break the trend line adding fuel to the fire so plan your trades accordingly and keep watching everyone .
NSE:NIFTY
by Kaushalfin