Fibbonacchi — Trading Ideas on TradingView

Birlasoft Limited (BSOFT) – Weekly Technical Outlook Birlasoft Limited (BSOFT) – Weekly Technical Outlook The stock is currently trading near a strong demand zone, aligning closely with the 78.6% Fibonacci retracement of the previous major uptrend. This level historically acts as a critical support, increasing the probability of a technical bounce. Key Technical Factors: 📉 Support Zone: ₹330 – ₹350 (strong base formation) 🔁 Positive Divergence: Visible on RSI, indicating weakening downside momentum 🕯️ Weekly Structure: Formation of a potential bullish engulfing pattern, suggesting early signs of reversal 📊 Volume Behaviour: Stabilizing near support, hinting at accumulation Trade Setup: Buy Zone: ₹350 – ₹370 Target (Short to Medium Term): ₹450 Stop Loss: Below ₹320 (closing basis) View: The confluence of Fibonacci support + RSI divergence + bullish candle formation strengthens the case for a technical pullback rally. A sustained move above ₹400 can further accelerate upside momentum toward ₹450 levels.

by tradetechnicalanalyst

Nifty may reverse from 22,000 ±100.Nifty is currently in a broad corrective structure between 26,300 and 22,000 as per Elliott Wave analysis. The ongoing decline appears to be the final leg (Wave 5), with strong support placed near the weekly 200 EMA around 21,900. Technically, momentum indicators like RSI and MACD suggest limited downside remaining, though a pullback toward 23,800–24,000 cannot be ruled out before the final correction. Nifty can short near 23,800-24,200 for downside 22,000 Nifty 22,000 ±100 would be the reversal level. The zone of 22,000 ±100 is expected to act as a strong accumulation area for long-term investors. A staggered investment approach is recommended, gradually deploying capital as the index approaches key support levels.

by tradetechnicalanalyst

Technical & Geopolitical Assessment Nifty 50 Technical & Geopolitical Assessment of Potential Reversal :- The Nifty 50 is currently navigating a period of high volatility driven by the escalating Iran–US–Israel conflict and a subsequent oil shock (Brent crude peaking near $120). From its January peak of 26,373, the index has entered a correction phase, currently trading near the 23,800–24,000 zone. Technical indicators and historical precedents suggest that while the primary trend is bearish, the index is approaching a "Value Zone" where a major reversal could materialize. 2. Historical Context: Geopolitical Draw downs Historical data from ICICI Securities reinforces that geopolitical shocks often result in a maximum "panic drawdown" of approximately 18%. Event Max Correction (%) Impact Duration 9/11 Attacks~18% Sharp, short-term Russia-Ukraine War~10-12% Sustained volatility Current Conflict (2026)~9.5% (to date) Ongoing Prediction Alignment: An 18% correction from the 26,373 peak equates to 21,625. This aligns remarkably well with your identified support zone of 22,000. 3. Technical Analysis & Elliott Wave Structure The technical chart indicates a structural "Flat Correction" on the monthly timeframe, further validated by a Monthly Evening Star pattern with bearish divergence. Elliott Wave Perspective: * Wave 2 (Relief Rally) concluded during the post-Budget bounce Wave 3 (Impulsive Downward) is currently active. Fibonacci Targets: Wave 3 typically extends to 1.618% of Wave 1. Based on current volatility, targets are clustered at 23,500 (immediate) and 22,000–22,750 (extended). Support Breach: The decisive break below 24,300 has shifted the psychological floor to the 23,800 mark. A failure to hold 23,800 on a weekly closing basis opens the "Trap Door" to the 22,000 level. 4. Reversal Level Prediction :-Based on the confluence of technical and fundamental data, we identify two primary zones for a potential reversal: Zone A: The "Supportive" Reversal (23,500 – 23,700) Rationale: This represents the 61.8% Fibonacci retracement of the 2025-2026 up move. Probability: High for a short-term "relief bounce. "Zone B: The "Historical Bottom" (21,800 – 22,200) Rationale: Represents the 16-18% historical max drawdown and the end of the 5-wave Elliott structure. Probability: High for a long-term structural bottom if geopolitical tensions escalate further.

by tradetechnicalanalyst

NIFTY ELLIOT WAVE ANALYSIS - Wave b(4)Potential Wave B Completion in Wave 4 Correction Currently, Nifty appears to be in Wave B of an ongoing Wave 4 correction in the Elliott Wave structure. The price action suggests the possibility of filling the gap around the 81.2% retracement level, following which a decline in the form of Wave C might unfold. Key Levels to Watch: Resistance Zone: 25,600–25,700 This level could act as a key resistance, capping the upward move of Wave B. Support Zone: 22,700–22,800 On the downside, this area may provide significant support and serve as the target for Wave C. Potential Scenario: Wave B could complete after testing the resistance zone, forming a bearish reversal. If the gap fill around the 81.2% Fibonacci retracement occurs, it might signal the transition into Wave C. Wave C could drive prices lower toward the support zone, completing the corrective structure.

by HimaWaveTA