Get started

Fibonacci

A Bullish Breakout Analysis of Alkyl AmineAlkyl Amine stock has recently exhibited a noteworthy price action following a consolidation phase that extended beyond 1,000 days. The stock has successfully retested a pivotal support level and demonstrated a robust bounce, closing above this key level, accompanied by a significant surge in buying volume. This development is indicative of a potential shift in the trend towards a bullish posture. From an Elliott Wave analysis perspective, the stock appears to be in the early stages of a wave pattern. This observation aligns with the bounce occurring at the 61.8% Fibonacci retracement level from the most recent higher high, suggesting a critical change in momentum. Further validating the bullish outlook, momentum indicators such as the RSI and the MACD are showing favourable signals on both the daily and weekly timeframes, reinforcing the likelihood of upward price movement. In terms of potential price levels, the current-demand zone is identified between 2305 and 2349 . Should the stock succeed in closing above the initial resistance level at 2484 , the next resistance levels to monitor would be at 2848 , 3162 , and ultimately 3526 . Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making any investment decisions.
NSE:ALKYLAMINELong
by NiftyNotion
6
ALKYLAMINE : How to spot Trend Reversal There are 3 tools to identify a Trend Reversal Fibonacci Retracement Indicator: - Fibonacci retracement levels are prices, depicted as horizontal lines on a chart, that indicate where support or resistance could likely to occur. - The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points. Here in this chart Swing low is 462 and Swing high is 4386 The price has fallen from 4386 and is consolidating at 0.618 which is also called as golden ratio and acts are strong support. Pattern Identification: The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedge’s resistance. Volume breakout after consolidation: Here in this chart, volumes are huge near the upper trendline of falling wedge pattern indicating a strong trend reversal. Thanks for sparing time to read this learning article. Good day!
NSE:ALKYLAMINELong
by PowerOfTA
JTEKT 1DBOS (Break of Structure): A break of structure occurred in the uptrend, signalling a shift in market momentum around late April to early May. This indicates that the previous resistance was broken, which led to a strong bullish rally. CHOCH (Change of Character): After the bullish move, a change of character is marked, indicating a reversal from the uptrend into a downtrend in mid-July. This suggests a potential shift in the market's direction from bullish to bearish. Fibonacci Levels: Fibonacci retracement levels are drawn, with the 0.618 level providing a significant resistance around ₹185, and the 0.786 level offering support near ₹165. The price is currently consolidating between these key levels. Order Block (OB): There is an order block marked around the ₹165 zone. This is a significant area where institutional buying or selling occurred, and it may act as a strong support for a future price bounce. Current Price Action: The price is hovering near the 0.786 Fibonacci retracement level and the order block area, indicating a consolidation phase. The stock seems to be coiling, preparing for a potential breakout either upwards or downwards. Summary: The stock recently experienced a change of character and has retraced down to the 0.786 Fibonacci level near an order block. This area could serve as strong support, setting up for a potential upward bounce if the market regains bullish momentum. The resistance at ₹185 (0.618 Fibonacci level) will be key to watch for further confirmation of a reversal or continuation of the current trend.
NSE:JTEKTINDIA
by vinitsugandh
Swing Opportunity in Jindal SteelGo Long @ 932.05 for Targets of 958.1, 996.5, and 1020 with SL 906 Reasons to go Long : 1. On a Daily timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.382 Fibonacci level. 2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange) is formed around the 0.382 Fibonacci level. 3. Also there is a strong Trendline (marked with green color) which supports the stock.
NSE:JINDALSTELLong
by Nimish_Ghagare
Nazara TechnologyWe are closely following Nazara Technologies and believe it’s poised for a breakout based on its technical patterns. Consolidation near resistance often suggests a potential for a breakout if the price action confirms it. If Nazara Technologies breaks through the 1020 level, it could indeed pave the way for further upside, potentially reaching your targets of 1350, 1500, and 1650+. It’s always good to keep an eye on broader market conditions and any company-specific news that could impact the stock’s performance. Additionally, setting stop-loss orders or having an exit strategy in place might help manage risk if the price movement doesn’t go as expected.
NSE:NAZARALong
by Arvind_Share_Academy
Petronet exited channel. Pullback at 23.6% or 38.2% fib level.The Indian Oil Ministry plans to promote the conversion of one-third of existing long-haul trucks to LNG from diesel, as per a draft policy. Additionally, it aims to mandate that a third of new trucks operate on super-chilled gas This initiative may boost the LNG sector and promote a cleaner energy transition in transportation, potentially enhancing demand for infrastructure and technology related to LNG fuelling stations. The trucking sector could see a shift in investment opportunities towards LNG vehicles, impacting automotive and energy companies positively Petronet in a good spot for the same. Technically, price exited channel (profit booking happening after target 3 is achieved). Pullback will happen at 23.6% (326) or 38.2% (295) fib level. At worst case 50% fib level 271. Monthly & Quarterly chart looks good. Considering RSI touch points, reversal could happen now.
NSE:PETRONETLong
by naraykln
Nifty 50: Critical Support Zone at 24,460 The market is currently hovering near key Fibonacci retracement levels, with 24,460 acting as a strong support zone. This area aligns with the 0.618 Fibonacci retracement from the recent rally, providing a significant level for buyers to potentially step in. The market has already tested the 38.2% retracement level and held above it. Key Scenarios: Gap-Down Scenario: If the market opens with a gap down near the 24,500 level, we may witness a bounce-back, leading to a green candle that could move towards the current closing price. The 24,460 support level is expected to hold, making this a critical area for a potential reversal. Flat or Slight Gap-Down Opening: Should the market open flat or with a small gap-down, we could see a red candle that may extend to the 24,460 level. This would likely be the lowest point before buyers step in, supported by both the 0.618 retracement and the rising trendline visible on the chart. Gap-Up Scenario: If the market gaps up and holds the current closing price (24,857.50), there’s a possibility of testing the 25,000 level. A successful breakout above this could signal further momentum, potentially leading to a rally towards 25,600. Conclusion: The 24,460 zone remains a strong support level, while 25,000 acts as the next major resistance. A break above 25,000 could initiate a continuation toward 25,600, while a gap down will test the 24,460 support and it should most likely hold if nothing worse happens around the world. Disclaimer: This idea is presented solely for educational purposes and should not be considered financial or trading advice.
NSE:NIFTY
by strategystack