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Fibonacci

MRF Finds Strong Support After Severe Correction Topic statement: MRF has experienced a sharp correction in recent months, with the stock finding strong support at the retracement level and indicators are giving an oversold opportunity. Key points: - Stock has corrected to the 61.8% retracement level at 1,08,000, providing strong support - Strong support is also seen at the emotional level of 1,00,000 - Price is on the 180-day moving average - Weekly MFI is at 28, indicating the stock is very oversold
NSE:MRFLong
by yogeshwar
2
BIOCON ready to moveCompany Overview Biocon Limited is an Indian biopharmaceutical company that focuses on the research, development, and manufacturing of innovative therapies. It specializes in areas such as biosimilars, novel biologics, complex generics, and specialty formulations. With a strong emphasis on affordability and accessibility, Biocon aims to provide healthcare solutions that address unmet medical needs. Price Chart Analysis Current Price: ₹245.85 Trend: The stock is currently in a consolidation phase with potential for an upward breakout. Target Levels: ₹270 (T1) ₹290 (T2) ₹310 (T3) Levels: Primary Support Zone: ₹207- ₹131 Swing Zone: ₹304- ₹261 Technical Indicators Relative Strength Index (RSI): The RSI value is 55.30, indicating the stock is upward momentum. Volume: 8.2M (Current period) Key Observations Current Price: ₹245.85 Price Change: +₹5.25 (+2.18%) Volume: 8.2M Timeframe: March 6, 2025 The stock is trading within a consolidation phase, suggesting potential for an upward breakout. The RSI indicates bullish momentum, suggesting buying side. The volume indicates a healthy level of trading activity, supporting the current price movement. Earnings Overview Q3 FY25 Net Profit: ₹320 crore Q3 FY24 Net Profit: ₹280 crore Revenue Growth: 14% increase to ₹1,450 crore Key Highlights: Biocon reported a net profit of ₹320 crore in Q3 FY25, compared to ₹280 crore in the same quarter last year. The company's revenue grew by 14%, driven by strong performance in biosimilars and novel biologics segments. Biocon continues to focus on expanding its global footprint and increasing its market share in key therapeutic areas. Conclusion Biocon Ltd. is showing signs of potential upward movement, with key resistance levels ahead. The slight overbought RSI suggests that there is some room for further upward movement, but caution is advised for short-term traders. Investors should watch for potential breakouts above the resistance levels and monitor the support zones for any signs of reversal.
NSE:BIOCONLong
by TechnicalAnalystSucrit
LTIM: Sideways Consolidation Continues After Strong 2021 RallyLTIM has been trading in a well-defined range since its 2021 bull run, with strong support and resistance levels dictating its movement, between 4000 and 7000. Key points: 1. The stock faces heavy resistance at 6800, as the 23.6% retracement level acts as a strong barrier. 2. Price consistently finds support at the 50% retracement level and has bounced back from this level multiple times. 3. The stock is currently near the 50% retracement level and trading below the 180-day exponential moving average, making it oversold.
NSE:LTIMLong
by yogeshwar
SBIN: Holding Strong Amid Market Weakness but Facing Further DowTopic Statement: SBIN has experienced a relatively minor correction compared to the broader market, but technical indicators suggest the possibility of further downside. Key points: 1. The stock has corrected to the 23.6% retracement level and attempted to break below but has reverted to this level. 2. Price is near the 180-day moving average, signaling a crucial support zone. 3. Weekly RSI is at 38, indicating persistent selling pressure, with a potential decline to the 38.2% retracement level at 612.
NSE:SBIN
by yogeshwar
Expanding Flat on NVIDIA: Bearish or Final Leg?NVIDIA after a recent bullish trend has formed an Expanding Flat correction. Wave (B) exceeded Wave (A)’s start, confirming this as an Expanding Flat (3-3-5) structure. Wave (C) is in progress, unfolding in a five-wave sequence. The 1.618 Fibonacci extension (~102 USD) is a key support zone, with 2.618 (~56 USD) as an extreme bearish target. A reversal could follow after Wave C completes, so these levels are crucial to watch. Key Levels to Watch: 102 USD (1.618 Fib extension - first support zone). 56 USD (2.618 Fib extension - extreme bearish case). ❓ Is this the final leg down before a bullish reversal, or more downside ahead?
NASDAQ:NVDAShort
by WaveXplorer
Reliance: Leading the Market Correction & Nearing Strong SupportTopic Statement: Reliance has undergone a sharp correction in recent months, significantly influencing the broader market downturn, but key technical levels suggest a potential stabilization. Key points: 1. The stock has corrected to the 38.2% retracement level, receiving strong support. 2. Price is now below the 180-day exponential moving average, indicating oversold conditions. 3. Weekly RSI stands at 34, marking an oversold zone from a long-term perspective.
NSE:RELIANCELong
by yogeshwar
Nifty 50 -Feb 2025 ViewI had posted my last analysis of Nifty at end of Dec 2024 and here we are in Feb 2025 with Nifty being almost at the same price. So, basically everyone should be happy, right? :P Why are most of our portfolios in deep red? Let;'s understand the scenario. Nifty has been highly volatile since the past few months with FII selling continuously and DIIs buying it. It has been a tug of war between bulls & bears near 23000 which was broken few days back but 22800 managed to act as a support. Level to watch remain same as last idea View is bearish to sideways with sell on rise. Expecting a highly volatile 2025 with stock specific movements especially in large cap sector. Overvalued mid & Smallcap stocks might continue to see correction in upcoming months. I feel a bullish view can be made only when Nifty sustains above 24800. An accumulation in this zone between 23000 and 24800 will be good for Nifty in upcoming years. The recent budget will be very beneficial for consumption & hospitality sector. Keep this sector in watchlist.
NSE:NIFTY
by chartistamey
3
ready to fly SPICE JETCompany Overview: SpiceJet Ltd. is one of India's leading low-cost airlines, headquartered in Gurgaon, Haryana. Established in 1984 as ModiLuft, the airline was rebranded as SpiceJet in 2004. SpiceJet operates a fleet of Boeing 737 and Bombardier Dash 8 aircraft, covering 73 destinations, including 60 domestic and 13 international routes. The airline is known for its affordable fares and innovative services, such as being the first airline in India to introduce electric tarmac coaches and mid-air cab facilities. 1. Price Chart Analysis: Current Price: ₹45.91 Trend: The stock is currently in a consolidation phase with a potential for an upward breakout. Target Levels: ₹60.86, ₹73.81, ₹83.02, ₹94.76 Levels: Primary Support Zone: ₹34.90 - ₹44.50 Swing Zone: ₹48.78- ₹54.27 2. Technical Indicators: Relative Strength Index (RSI): 43.60 (Neutral momentum) Volume: 10.5M (Current period) 3. Key Observations: Current Price: ₹45.91 Price Change: ₹+1.20 (+2.68%) Volume: 10.5M Timeframe: March 1, 2025 The stock is trading within a consolidation phase, suggesting a potential for an upward breakout. The RSI indicates neutral momentum, suggesting that the stock is neither overbought nor oversold. The volume indicates a healthy level of trading activity, supporting the current price movement. 4. Earnings Overview: Q3 FY25 Net Profit: ₹26 crore Q3 FY24 Net Loss: ₹300 crore Revenue Growth: 35% increase to ₹1,651 crore Key Highlights: SpiceJet turned profitable in Q3 FY25, recording a net profit of ₹26 crore, compared to a net loss of ₹300 crore in the same quarter last year. The airline's revenue surged by 35%, driven by strong passenger demand and improved operational efficiency. For the first time in a decade, SpiceJet's net worth became positive, marking a significant milestone in its financial recovery. 5. Conclusion: SpiceJet Ltd. is showing signs of potential upward movement, with key resistance levels ahead. The neutral RSI suggests that there is room for further upward movement without immediate risk of overbought conditions. Investors should watch for potential breakouts above the resistance levels and monitor the support zones for any signs of reversal.
BSE:SPICEJET
by TechnicalAnalystSucrit
3
This is my view on Nifty 50 on monthly chart. This is my view on Nifty 50 on monthly chart. I feel we were in a long bullish run since 2000. *with the burst of Dotcom bubble, a new bullish wave started. *It had its first retracement in 2008 and then that to break the highs it took almost 5 years, but it was broken in 2013. * There was bullish move till 2019 which was 1.6 extension level and market went sideways at that. * Even with the panic of COVID pandemic, market fell just to retrace from perfect support level of 1 and then went above till 2.6 extension. * Market was sideways for a year almost on 2.6 level after which a big bullish wave came up. * Last leg of bullish move was full of grid and panic of buying, yet market toped at level of 4.2 extension. * Now it might have completed first leg of correction till 3.6, but further downside till 16000 could come in Nifty which could be depth of correction on higher level. This could be wrong, but still provide your views.
NSE:NIFTY
by Vishal_Pawar_1
NIFTY Breaking 2020 Trendline with Monthly Big Bear CandleNifty Breakdown 2020 Trendline on Monthly Chart with Big Bear Candle - (Currently Now its show almost Full Bear power Candle near at 10:30am) If You See the Monthly RSI Is also going to break almost Five years Low 53.30 3rd thing if you comapre RSI low 2016-2020 breakdown its Go more 39% Down in just 2 months. Chart & Indicator both Saw Very bad Sentiments & Pattern on chart. my prediction as below as per fibo chart shown in chart Target as per Fibolevel T1- 21848.50 (23.8%) T2- 19108.65 (38.3%) T3- 16894.25 (50%) T4- 14679.80(61.8%) Target as per Chart (Zones) T1 Zone- 22081- 21588 T2 Zone- 18912-18515.50 T3 Zone- 15645-15177
NSE:NIFTYShort
by StockviewPari
2
Nifty 50 - Potential Deep Correction AheadAfter analyzing the current structure of the Nifty 50 index, I believe we're looking at a potential deeper correction in the market. The larger downtrend has been playing out with Wave A completing at 23,263.15. We're now in Wave C, and a deeper correction could be expected with Wave C potentially extending further down. Key points: Wave 5 might be Wave 3 and could indicate a bigger correction. Wave C could target 21,292.70, with further downside potential. The Max retracement for Wave 4 suggests a corrective rally without violating the start of Wave 1. Fibonacci extension indicates a deeper retracement, possibly extending beyond the 1.618 level. I believe there's a strong chance the market might head lower, and this could mark the start of a bigger trend reversal. Would love to hear your thoughts and if others are seeing a similar pattern! Let's see how this unfolds. Chart Details: Timeframe: 4-Hour Chart Indicators: Fibonacci retracements, wave counting Key Levels: Target for Wave C: 21,292.70 or lower Max retracement for Wave 4: 22,720.30 1.618 extension: Lower levels are anticipated.
NSE:NIFTYShort
by WaveXplorer
14
Havells: Testing Key Support Levels Amid Market CorrectionTopic Statement: Havells has corrected along with the broader market and is now approaching critical support levels that may determine its next move. Key points: 1. The price is taking heavy support at the 38.2% retracement level at 1,476. 2. The stock is trading close to the 180-day moving average. 3. Weekly RSI is at 40, indicating the stock is nearing oversold territory. 4. If the support at 1,476 fails, the price may decline further to the 50% retracement level at 1,280.
NSE:HAVELLS
by yogeshwar
Nifty Levels of supportCurrently i am seeing 3 levels of support. 1. Current retracement level is at 50% (22600), and just on the top of resistance levels of Q3 2024. 2. next support possibly at 61% retracement (21600-21700), which also falls on the trend line which passes through peaks of Oct'21 and Sep'23 interestingly cuts through the gap-up in Dec'23 3. final level of support is 78% retracement (20400-20500), which finally fills the Gap-up in Dec'23. Hopefully it should reverse from the current levels, but it should not go beyond 20500 level which is 78% retracement.
NSE:NIFTY
by Karthiram
2