Tata Elxsi #tataelxsi the first 2 times scrip broke 0.382 #fibonacci level and tested the trend line, a good RR was seen.
Hoping for a repeat on the third instance.
Targets in orange
#nifty #swingtrade #investing #stockmarketindia
P.S.~ Safe entry above 8830
Hi all 👋 this is my current take on Nifty.
✅Nifty failed to break out of the resistance line, which I have stretched from October 2021 highs, at two occasions, that is in August and September 2022. There was a breakout of the 18000 level but this break failed near April 2022 swing highs. Thereafter, Nifty had a vertical reaction in September.
✅This reaction has...
As we can see BANKNIFTY reversed exactly from our expected level of 37000 and made a rally of over 1000 points though it was more of a news driven rally but did respected our levels, now we can expect banknifty to continue this rally, next emminent resistance can be seen around 38800-39000 levels hence before continuing its rally we can expect a sideways marker in...
Banknifty on the weekly time frame has closed just below the 38.2% fibonnaci level and has formed a dragon fly doji after testing its 20 ema on weekly time frame.
The market, on the daily time frame, has formed a bullish engulfing candle and almost engulfed 2 previous candle on whole.
Though the market is trading between both the emas, and global cues are...
Nifty in the weekly time frame has given a dragon fly doji candle. The market has closed just near the 20 ema and the market can retest before falling further.
On the daily time frame analysis, the market has given a nice moment in the last trading session and engulfed almost 4 daily candle and closing just near week's open. Market has tested its 200 ema and...
The weekly chart of Nifty IT shows that it has come near the 50% retracement level.
At the same time it shows a positive RSI divergence. This gives rise to chances of a short term upside.
Though confirmation is required as per price action.
As you can see Divis Lab is on the way to downside, in minor Wave E forming a Triangle pattern.
As per EWT minutte wave (c) can travel till fibo ratio 1 or 1.2 which are also my target.
But a trader must be cautious if it breaks the invalid level of 3710, if this level breaks above all study/ Analysis will be invalid.
Stock -> Granules
TimeFrame -> Weekly
Granules has been forming a flag and pole pattern.
It finally broke out of the flag in the last week of September with heavy volumes and I believe this generates a good opportunity to go long!
There are multiple other factors that strengthen my conviction on going long
-The stock is taking support...
As we can see BANKNIFTY fell over 500 points despite of the huge gap up and also broke last days low and hence the next emminent support we can see is around 37200-37000 levels which is also a .50 level fib level and is a 50 percent retracement of the overall trend hence banknifty must reject and take support around these levels else if fails to take support...
- RBI Policy Meet on 28Sept- 30 Sept 2022
- Result season is about to begin
and Nifty is near 240 day EMA
Important Fibonacci level that may provide Support
61.8% retracement 16293
76.4% retracement 15868
Important Resistance zone
Given the set up one may consider to go for a Short Strangle strategy in Nifty for Oct...
As we can see NIFTY had been in consolidation theoughout the day and closed on a negative note despite of strong opening, followimg the global cues we can expect NIFTY to open weak tomorrow but that gap down opening could show opening around important support levels which are mentioned in the chart which are 16600-16800 range and this range is also a 50 percent...
Filatex Cmp 108 dated 27-9-2022
1. Reversal from Support Line.
Buy @ Cmp for target 116-123-127-128-143-175 SL 95
Company has reduced debt.
Company is expected to give good quarter
Company has delivered good profit growth of 47.4% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years...