JUBFOODS is following fib retracement levels quite well. We can confirm if the stock crosses ATH level it will experience good momentum and price movement in coming sessions. Can go for Long with Support at 1805-1810. Stock is above all moving averages. DMI & ADX shows trending.
With Metal Sector on the bullish side, hindzinc is in trending with good relative volume. Narrow range -7 candle was observed on 18th Aug almost completing a pennant chart pattern. Could resume the upward trend after bouncing from 0.5 -0.618 Fibonacci levels with moving average providing support.
This stock has made a bullish candle(Inverted Hammer) at 61.8 % golden fibonacci ratio. This can gain momentum above 570
Buy above 4530 for 15,40,70+++ Sell below 4490 for 15,40,70+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Buy above 3345 for 15,40,70++ Sell below 3306 for 15,40,70++ Can comment or ping me for any query All views for Educational purpose, Trade at your own risk
Hdfc now above physchologicL zone of 1800 mark Finished the downmove and might knock doors of 1900 again Important on Ichimoku Price action wise also good close above key hurdles and physchological mark Volume and Macd going good Thus overall upmove shall continue till 1900.minimum
Today Nifty opened gap up and invalidated assumption of impulsive down moving Elliott wave. At gap up 11248 it confirmed since wave 4 touched wave 1 now its forming a wedge or parallel channel. Where wave 4 should end near 11268 which is 0.618 fib level. Next fib 0.786 11311. Stop loss 11325 Resistance 11270-85 will be difficult to cross. Wave 5 should start...
Bearish flag + 61% retracement + overbought MACD = good R:R for shorts
Key Support Levels: $410, $400, $380 Key Resistance Levels: $438, $445, $465
Buy above 22030 for 150,300,700+++ Sell below 21875 for 150,300,700+++ Can comment or ping me for any query All views for Educational purpose, Trade at your own risk
Buy above 3450 for 15,40,70+++ Sell below 3405 for 15,40,70+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Buy above 4520 for 15,40,70+++ Sell below 4485 for 15,40,70+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Buy above 2132 for 10,25,50+++ Sell below 2110 for 10,25,50+++ Can comment or ping me for any query or live updates All views for Educational purpose, Trade at your own risk
Positional Short Entry: 32 (aggressive) : Wait for breakout of neckline and wait for successful retest of neckline (Conservative) Target 1: 30.20 (aligned with Fib 0.382 retracment) Target 2: 25 (not aligned with Fib 0.618 retracment, Fib 0.618 retracment is 23.25) Risky trader can target for 23.35. SL 37 (on closing...
Nifty formed Parallel channel inside bigger channel and making smaller candles suggesting upmove exhuasted. It formed Contracting Triangle at top of trend and didn't break major resistance 11380. On 14th Aug gave downside breakdown from triangle completing sharp downside of 3rd impulse wave. Third wave completed as you can see it formed Hammer at 11111...
If NIfty shoots upside it can topout at the previous high @ 11341. if it breaks down 11165 then it can trade below the neck line placed at 10880. Upside target : 11243, 11300, 11341, final 11377 downside target : 11111, 11055, 10880 , if the neck line is broken then the direct target will be 10580 and 10551 which is 1.618 level and...