Good Structure observed in Dhanuka
volumes picking up in uptrend and dry up in consolidation
For momentum players
add till 810(Fibonacci retracement level)
Weak below 610
For Long Term investing
Buy at CMP
Add on dip
and weak if close below 200 SMA
Very good Fundamentals ::--
Market Cap-- ₹ 4,218 Cr.
Stock P/E-- 20.0
1. Around strong support zone 656-665
2. Retracement done from high to low (More than 0.618 fib level) , but currently above 0.618 fib level
3. Consolidation going from few days (possible breakout anytime)
4. MACD about to give crossover*
5. Taking support from almost an year old trendline ( starting from 12 June 2020)
5. Decent delivery percentage (around 40% on...
GOLD HAS RETRACED TO THE 38.2% FIB LEVEL EXTENDING FROM THE MARCH LOW AND 61.8% FROM THE LOW OF JUNE AT 1679. NOW HAVING SPIKED TO THE 2075 HIGH BACK IN AUGUST, IT STEPPED INTO THE CORRECTIONAL PHASE. SEEING THE CURRENT CONDITION OF DXY AND WITH THE EXPECTATION OF FURTHER DOLLAR DESTRUCTION UN THE PRESIDENCY OF JOE BIDEN, XAU USD HAS PRINTED AN INVERSE HEAD AND...
THE STOCK HAS A DOWNTREND
ALL THE LEVELS ARE MARKED ON CHART;
SELL AT 2445
BUY ABOVE 2304
PRICE HAS DECREASED ON ACCOUNT OF HIGH VOLUME, BE CAUTIOUS
The indicator used:
1) Daily Lines plots Daily 20 EMA on lower time frame charts
2) TE REKAB shows reversals in the market
PB stands for - PULL BACK.
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Volume is steadily rising.
Strong support candle formation at 50 EMA.
Strategic support and resistant is shown by green and pink line.
Options traders can use the areas between Green and Pink line for hedging.