Man Infra Construction Ltd. EMA cross, Resistance B/O and retestMan Infra Construction has taken good support at fib 0.5 ( from March 202 lows to the all time high) and consolidated and reversed.
the levels are placed and described.
targets are from upcoming resistance and Fibonacci reversal from ATH to reversal level.
Place your stoploss accordingly.
Financial results were good and it has goo dividend payout.
Note. Research ideas are for educational purpose and to learn technical analysis.
Always be patient and do not fall in love with stocks and pull down your stop losses,
Exit at your targets if you are a swing trader or add on good opportunities for long term.
Fibinacci
Nifty Rising Wedge - June SeriesRight now, Nifty is continuously breaking its all time high's. But its in the edge of rising edge pattern.
The Rising wedge will most likely to push the market downward for some correction. Also the RSI is in overbought levels. Correction can start to happen anytime. Wait for the RSI breakdown for short for a target of 15200 & 15000. 15000 will act as a Strong support and it will start to reverse from there.
Long can also happen, but the targets will not be attractive. This over bought RSI will bring the small correction wave 15800 will act as strong resistance and one can execute fresh short at these levels.
Kindly share your valuable thoughts.
Disclaimer: Kindly do your analysis or consult your advisor before taking any trade. This view is for educational purposes only.