Nifty Pharma index started it's rally after the 2008 crash and top out in 2015.
Then it went for a long consolidation till 2020.
After analyzing retracement with fibonacci levels I saw that it had took support on 0.618 level and again showed a bullish up move.
It crossed it's all time high recently in 2021.
Before crossing, sellers tried to change trend but...
0.5 and 0.618 in Fibonacci is a golden zone from where price retraces so here Bandhan bank was following a trendline so to predict that pullback we used fib! We plotted Fibonacci from 165 to 423 (uptrend) and if we observe the reaction to our golden zone we can see it is a very important key zone. It broke out of Falling wedge with a nice breakout with good...
As the stock is in a positive momentum the stock can be allocated after a retracement enter at the given fib support place a strict stop below the fib support . " EDUCATIONAL PURPOSE "..
Seems like a Good Buy. Because it has been testing the 0.5 Retracement level since last 5 weeks. And the financial performance of the company is also good. We can witness a good bounce in the times to come.
CHART & ANALYSIS BY
ADARSH KUMAR DEY
Previous NIFTY OUTLOOK post was an indication for the Expected Bullishness. No surprise NIFTY didn't disappointed at all.
For 11th OCT the mentioned support level was 17841 and NIFTY shooted up exactly from the mentioned level.
For 12th OCT the mentioned support level was 17863.50 and NIFTY shooted up from the almost the same dot to dot level .
Link to my...
Go Long above 198.3 for Targets of 213.55, 228.95, 244.2, and 259.5 with SL 183
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern, Bullish Engulfing (marked with an orange...
After a breakout of Oil India
Some people booking profits
Now second chance for those who missed to ride the breakout now its retesting previous Resistance became Support now and confirmation candle is now also Fibbonaci support here its good time to catch this.
SL below last swing and risk reward ratio is 1:2
🙏Note :- this is my Analysis don't take it as buy...
IPCALAB near fib retracement and long term resistance level with bullish MACD crossover. If the stock closes above 2455 with good volume, then long entry can be taken for the targets,
1. 2560
2. 2650
3. 2780
4. 2880+
with stop loss near 2250.
Note: Not a recommendation, just my analysis for learning purpose.
Great opportunity in Adani Ports with favourable risk reward of 5:1
In past 2 month, the stock has seen a sharp sell off due to multiple factor. On analysis the chart, you will observe that after 30% fall - Adani Ports as has taken a solid support at fib .681 and EMA 50 acting as resistance.
Currently stock is consolidating in "symmetrical triangle" with...
DALBHARAT has been in the uptrend and has taken support from its 100 days EMA.
As per Fibonacci extension the next target can be expected at around 2742, 30% from CMP.
Time period for meeting the target - apprx. 1 month.
Stop Loss - 1975
-- price rejection seen @ FIB 61.8% level earler, hence safe to buy, when price sustains above this level in 4HR+ timeframe.
-- FIB levels & Resistance zones (RED box) may be used as S/R , S/L and Trail S/L levels.
-- Very High Volume with momentum (RSI breakout) seen yesterday
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Caution : Smallcap stock... Prefer allocating <5% of your capital. And...
bajaj finance currenty 2 times facing 8000 level.
Now when its come 3rd time its not an important level as resistance for me.
its currently did pattern "cup & handle "
8% immidiate target .
our stoploss is7600
buy in its green zone.
thank you..
This is what I currently see in the price BTC/USD.
It got a rejection on the 58K level (Red box which acts as resistance).
The next major level of support is 53.5K approximately. It also shows confluence with the 0.236 fib level.
If I'm going to enter I'm planning to place my orders at around:
53.6K
52.6K
51.5K
50.8K
49.8K
48.6K
I would place the different...
EXPLANATION : This is a 15 min time frame chart of RELIANCE . It has taking trendline support , If give a strong breakdown and broke its trendline & Demand zone with high volumes and retest the same , I am bearish on RELIANCE . If support is taken from trendline & give a strong breakout and broke its Supply zone with high volumes and retest the same , I am bullish...
Drawing the TL (trendline) is really important. It gives you a hypothetical idea about which & what way the certain stock or index is heading.This is an hourly TF chart of NIFTY . I have segregated the trend in to four parts by plotting the trendline A,B,C,D.The last line ie D is the major support in short term. In terms of price the support stands to be at...
![ADANIPORTS: Great Opportunity in Adani Ports [R:R 5:1]](https://s3.tradingview.com/u/UtqNdPwi_mid.png "Great Opportunity in Adani Ports [R:R 5:1]")
