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Fibonacci

Banknifty daily analysis for 31/10/23.Banknifty has tested 38.2% fib level but is still closed below the fibonacci level. It has given a bullish engulfing candle after testing the low of 42400 it has given close above 43k level. Chance are of testing the 200 ema on the daily front. On the hourly charts, the market has closed between both the moving averages and is around the resistance level of 43100. If the market start moving upwards the targets will be the retest of 50 and 61.8 fib level. Market will form a "W" pattern before moving upward or it will give another bearish leg retesting the levels. Support :- 42800, 42400 Resistance :- 43100, 43370 Wait for the price action near the level before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Finnifty monthly expiry analysis for 31/10/23.A bullish engulfing daily candle is showing some positivity in the market. Finnifty has closed above the 20 ema and 110 point higher. It is about to test 38.2% fibonacci level around 19300 level after the fall of last week. Global markets at this time are trading in green. Look for close of global market in the morning as indian market will act accordingly. On the hourly charts, there was a bearishness in the morning and after that it recover giving 300 point move from the day low. Support :- 19200, 19000 Resistance :-19290, 19420 Tomorrow is the monthly expiry of the index and there are high chances of a good moment in the index. Watch option premiums and trade according to the setup. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
SBICARDS symmetrical Triangle pattern on MonthlyTF SBICARDS has fallen 35% from all time high. On Chart it is forming symmetrical triangle pattern which is a bullish pattern. It also taking support on Trend line and Fibb level. For symmetric triangle and Fibb level is best combination. With this combo if Monthly candle break trendline and 0.5Fibb level we can expect an possible upmove. Note : - SBICARDS has highest market share in cards market in INDIA. Due to weak result it is falling. - This is not an invest call , but a study how symmetric triangle and Fibb level works combo works.
NSE:SBICARD
by vinay_aravelli
Long Term Opportunity in HDFC LifeGo Long above 505.1 for Targets of 552.4, 599.7 and 647 with SL 457.8 Reasons to go Long : 1. On a Weekly 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 0.618 Fibonacci level. 2. In addition to this a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around the 0.618 Fibonacci level. 3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
NSE:HDFCLIFELong
by Nimish_Ghagare
Positional or Longterm Opportunity in GranulesGo Long above 291.9 for Targets of 316.05, 340.2 and 364.35 with SL 267.75 Reasons to go Long : 1. On a Weekly 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 0.618 Fibonacci level. 2. In addition to this a bullish candlestick pattern Bullish Double Bottom (W) pattern is formed around the 0.618 Fibonacci level & a Bullish Hammer (marked with orange color) is formed around the 0.5 Fibonacci level. 3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up. 4. Our final target is just placed below the resistance trendline (marked with red color)
NSE:GRANULESLong
by Nimish_Ghagare
Positional Opportunity in MaricoGo Long above 492.55 for Targets of 510.6, and 528.65 with SL 474.5 Reasons to go Long: 1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.381 Fibonacci level. 2. In addition to this there is a strong support zone (marked with Green color), from which the stock is taking support and moving up. 3. Also the stock gave Trendline breakout. 4. Our target is just below the resistance (marked with Red color).
NSE:MARICOLong
by Nimish_Ghagare
Positional or Longterm Opportunity in MFSLGo Long above 642.8 for Targets of 686.5, 730.2, 773.9, and 817.6 with SL 599.1 Reasons to go Long: 1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.618 Fibonacci level. 2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.618 Fibonacci level. 3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up. 4. Lastly our final target is just below the resistance zone (marked with red color).
NSE:MFSLLong
by Nimish_Ghagare
Positional or Longterm Opportunity in RelaxoGo Long above 858.1 for Targets of 925.35, 992.6, and 1059.85 with SL 790.85 Reasons to go Long : 1. On a Monthly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.5 Fibonacci level. 2. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level. 3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
NSE:RELAXOLong
by Nimish_Ghagare
Positional or Longterm Opportunity in VMartGo Long above 2184.1 for Targets of 2874.25, 3334.35, and 3564.4 with SL 1954.05 Reasons to go Long : 1. On a Weekly 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 0.618 Fibonacci level. 2. In addition to this a bullish candlestick pattern Bullish Engulfing pattern is formed around the 0.618 Fibonacci level. 3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
NSE:VMARTLong
by Nimish_Ghagare
Banknifty weekly analysis for 30/10/23.Banknifty has been trading below Weekly 20 ema and has given nice trending movement of around 1500 points from high to low while closing around 940 points lower. It recovered around 1% or 500 point higher on the last trading session that is a retracement after the selling leg. Daily candle is showing a retracement and can test fibonacci 38.2% or 50% level. The closing on the hourly charts is above the 20 ema after consolidating around the level. Support :- 42500, 42320, 42130 Resistance :- 43100, 43380, 43620 After a selling leg the market are retracing to clear the imbalances. The trend is bearish for now and sell on rise in the market cycle. Wait for the price action and a setup for the entry. Trailing stop loss can give good targets on the bearish side.
NSE:BANKNIFTY
by TheMamboMomentum
1
Bitcoin: Breaking Barriers and Soaring to New HeightsBitcoin has been on a roller coaster ride in recent weeks, but it appears to have found some stability near the $29,000 level. The cryptocurrency took support from the white line on the chart, which is a key Fibonacci retracement level. Now, Bitcoin is facing resistance at the $30,000 level. If it can break through this resistance, it could be on its way to higher prices. However, if it is rejected at this level, it could fall back to the support level at $26,000. Traders will be watching closely to see if Bitcoin can break through the resistance at $30,000. If it does, it could be a sign that the cryptocurrency is ready to move higher. However, if it is rejected at this level, it could be a sign that the rally is over. Technical Analysis: Bitcoin is currently trading above its 20-day and 50-day moving averages. The MACD indicator is currently showing a bullish crossover. Conclusion: Bitcoin is at a critical juncture. If it can break through the resistance at $30,000, it could be on its way to higher prices. However, if it is rejected at this level, it could fall back to the support level at $29,000. Traders will be watching closely to see which direction Bitcoin takes.
COINBASE:BTCUSD
by TRADING-NASA