Looks a Good reversal bet.
Buy if it is able to hold 1050 level
for target 1140-1165
Trade invalid if it breaks and closes below 1050.
Disclaimer - Chart posted only for learning purpose. Please do your own analysis before initiating any trade.
Go Long above 238.1 for Targets of 251.6 and 265.1 with SL 224.6
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 chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci...
Stock have given breakout with above avg. volume.
The candles which have formed in last few sessions are bearish
but looks weaker as there is continues decrease in volumes.
This means sellers are not that powerful at these levels now.
While using Fibonacci, applying top to bottom, I see that it have tested 0.61 level.
Which means there's high probability of...
Price has been consolidating around the 38.2% - 50% fib range/ 21 and 50 ema. It has even formed a triangle pattern. MACD and Stochastic RSI are signaling buy. A strong close above 2700 would be a good buy confirmation.
zeel : 196.55
trade set up:
1. buy till 186
2. keep stop loss as 175 on closing basis
3. targets 209/218/242 /260+
technical buy set up :
1. cup & handle
2. trend lines support
3.fibonacii retracement at .786 to .886
4.triangle
note :
a. stock is trading with multiple patterns .
b.trading at lower trend lines support of parallel channel .
c.trading in handle...
Stock seems in impulse wave 5 and the previous supply zone should act as demand zone on retracement. That would be good entry for 0.618 and 1 fib level target as shown with fib low level as stop loss.
if BTC Closes Reddish candle this month then there is strng chance to reach it at 27K support level according to Fibonacci .........
what you guys thought about this ???????
after break weekly all time high RELIANVE coming to retest the place where it breakes and its a level of 0.5 in fib series so wait for a hug buy and so nifty also can go for a buy trend soon...
Stock broke out from multiyear resistance zone and now trending in blue sky zone beautifull retest of breakout & now stock will start its upward journey. Always Do your own research before investing
GOLD market on technical analysis got retest and its now moving to uptrend when GOLD close above 1835 we can expect a first target as 1910 to 1920 and second target 1960 to 1970
Its seems bearish as it retraced back from 0.5 fib level and as clear from COT data lot of short positions are formed, during pullback, t get the good price , a very traditional method of pyramiding , target can be last low , it can move further as well.
