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Fibonacci

Is correction over in MCX?In the 75-minute chart in MCX, we can see that flat correction is going to be finished. This can be expected as the 0-B trend line breaks in less than half a time. (See that the lowest point from the trend line is formed in 25 candles, and the trend line is broken in 10 candles.) This is the primary indication of the end of correction. A risky buying opportunity exists at the current market price. The stop loss for this will be below the end of wave C, i.e., below the 5820 level. This is not a buying recommendation. Please always do your own research before you take any trade. This analysis is based on Elliott wave theory and Fibonacci. This analysis is for educational purposes only.
NSE:MCXLong
by theprofityogi
MY first choice IDFC FIRST BANK IDFC FIRST BANK have previous records and pattern and that repeat again Technical points 1 - down rising channel 2- Strong support on bottom 3 - hold the top of fab. point 4 previous bull run was came when is go down in channel pattern First channel performance Date 31-jan-2022 to 6-dec-2022 first reached on top of 50 and came down 28 in the channel when given reversal to 62 second channel performance 6-dec-2022 to 5-sep-2023 on the top of 62 he came down and reached 52 and than get reversal and make top of 100 third 6-sep-2023 to 27-november today now its reached at same price of 62 and create bottom now we looking for a fresh reversal and channel breakout First TRG - 86 Second TRG -98 & 102 Third TRG 120 and above 140 SL 48 only for the long term time duration minimum 1 year
NSE:IDFCFIRSTBLong
by Share-Mechanic
Classic Double Correction PatternThis is a classic example of Double correction (Double three) in HDFCLIFE. Marked in the first box, we can see Flat Correction where wave B is retraced to the 81% level. We are fulfilling the minimum requirement (61.8%) of wave B. Here in wave C, we see three waves. This is the first hint of an upcoming complex correction. The whole wave is marked as W here. In the second box, there is a perfect Zig-zag pattern. Wave B is retraced to 50% here. Also, we can see three waves in wave C, which gives us wave Y. These two waves are connected by wave X which is retraced to 111%. This is the best example of Double correction. This analysis is for educational purposes only. This analysis is based on Elliott Wave theory and Fibonacci analysis.
NSE:HDFCLIFEEducation
by theprofityogi
1
Swing / Positional Opportunity in Star HealthGo Long @ 598.5 for Targets of 640, 697, and 750 with SL 573 Reasons to go Long : 1. On weekly timeframe stock gave Trendline breakout (marked with green color). 2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.382 Fibonacci level. 3. In addition to this, the stock formed a Double Bottom (W) pattern (marked with a black dotted line) around 0.382 Fibonacci level.
NSE:STARHEALTHLong
by Nimish_Ghagare
Positional or Long-term Opportunity in Kotak BankGo Long @ 1893.7 for Targets of 1977.4, 2061.1, and 2228.5 with SL 1810 Reasons to go Long : 1. On the weekly timeframe stock gave Trendline breakout (marked with green color) & now it's taking support from it. 2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.382 Fibonacci level. 3. In addition to this, the stock formed a Bullish Engulfing pattern around 0.382 Fibonacci level.
NSE:KOTAKBANKLong
by Nimish_Ghagare
FINEORG TRADE IDEA - TOP DOWN APPROACHStock gave a significant move from covid (March 2023) lows and gave 281% returns till Sept 2022; after that correction phase started and it retraced 40-50% till feb-march 2023 Then it accumulated for almost 18-19 month in a fixed range with less volumes ; since last 2-4 weeks there are some volume spikes seen with coming out of accumulation range AND it made higher low formation since 3-4 weeks. Last trading session there was about 9-10% move with above average volume ; clearly shows some buying interest - The trade may set above 5350 on daily closing basis (After switching to daily chart) with possible SL 4600 and target near all time high 7100-7500. Important things drawn on chart. Do your analysis and all suggestions are warmly welcomed by comments. Wish you all a HAPPY FIBONACCI DAY.
NSE:FINEORGLong
by TradeKings5586
Update latest gold price today !Hello everyone! Gold has been in a steady decline since the start of the week, currently sitting at 2561, with strong indications that this downtrend may persist. The key 2550 level is still fiercely contested, keeping traders on edge. The market remains clouded with apprehension, especially with recent developments in the U.S. following Donald Trump's election as president. This lingering uncertainty may continue to weigh heavily on gold. At the moment, all attention is focused on the upcoming October Producer Price Index (PPI) report in the U.S. Analysts are forecasting a year-over-year increase of 2.3% for October, a notable jump from September's 1.8%. If both the CPI and PPI show further inflationary pressure, the Federal Reserve could be pushed to raise interest rates, which could apply even more pressure on gold prices. A stronger U.S. dollar would make gold trading and holding costs more expensive, potentially intensifying the sell-off. Technically speaking, the battle at 2550 is far from over, and there’s a strong likelihood of a brief pullback before continuing the downward trend. This could mean a possible retest of the 2600-2580 resistance zone before resuming its decline. Chart patterns suggest that if the correction unfolds as anticipated—possibly in line with an Elliott wave impulse—the target could be around 2485, a drop of over 1000 pips from the resistance level. Stay tuned for more developments as this situation unfolds!
OANDA:XAUUSDShort
by Bo-Samson
2