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Fibonacci

Indraprastha Gas: Breakdown or potential rise ?Hello guys I am back with another Interesting Analysis. This time we will discuss about Indraprastha Gas Ltd. in a very easy to understand and end of the section I will reveal my personal opinion on this stock. Current Chart Pattern: Currently, the stock is in an uptrend, following an ascending parallel channel pattern. When we examine the daily timeframe, it's evident that the stock has been consolidating within this pattern for the past 1.5 years. Previous Price movement: Looking at the weekly timeframe, the stock was previously moving in a rising wedge pattern. However, in 2021, it experienced a breakdown and underwent a correction of 50%. Current price movement. >>Since that decline, it has initiated an uptrend movement while forming the current channel pattern. >>Recently, the stock experienced a 15% decline again from its peak and moved outside of its parallel channel pattern. My Commentary on "will it fall or Rise". So, When we look at how this stock behaved in the past, we see that after big drops, it often bounced back strongly. This time, the stock has fallen below its usual support area, which seems like a normal pullback. Interestingly, it found support at Fibonacci S3 (420 level) and started rising again. Now, Looking at its Financial data everything looks great, The company is currently undergoing its highest-ever sales and profits. To cut the Long story short, I'm still positive about this stock, considering this level as good opportunity. But when it comes to entry it is better to wait for a strong confirmation. Ideal entry would be when it breaks the 450 level with comparatively big green engulfing candle, we can take a small stop loss at 415 level to capture atleast 25%. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Note: This is for informational purposes only. Do your own research before investing.
NSE:IGL
by BullishLine
Can $NSE:TATACONSUM Will Face Resistance?Dear Followers I hope this message finds you well. I wanted to provide you with an update on the stock NSE:TATACONSUM and discuss the current resistance levels that we've been monitoring. After a thorough analysis of the stock's performance and market trends, I wanted to highlight the following key points: Stock Performance: The stock has exhibited consistent growth over the past 6 Months, with a 22.50% confidence and potential for further gains. Resistance Levels: technical analysis reveals that the stock is currently approaching a key resistance level at 900-910 . This level has historically acted as a barrier to upward movement, as investors have shown a tendency to take profits or hesitate to buy at this point. Short-Term Outlook: While the stock has the potential to breach the resistance level of 910-920 and continue its upward trajectory Near 980-1000 , it's also prudent to be prepared for potential short-term fluctuations as the market digests recent gains. Long-Term Perspective: From a long-term perspective, the stock's fundamentals remain robust, supported by key factors such as strong financials, innovative products, Acquisition Of New Companies This suggests that any short-term resistance might eventually be overcome as the stock continues to grow. Based on this analysis, I recommend that we closely monitor the stock's movement around the resistance level. Should the stock successfully break through this level and sustain its upward momentum, it could signal a strong buying opportunity. On the other hand, if we observe a significant pullback or consolidation around the resistance, it might be a chance to reassess our strategy. Best regards, Ajay Metha
NSE:TATACONSUMLong
by PrachiMetha
OLD, an technical insight for the coming week 21.08.2023Gold Analysis for the Upcoming Week on MCX, India Date: 20th August 2023, 18:03 hours Technical Overview: Recent Performance: From 8th May to today's date, gold prices have witnessed a significant decline of approximately 5.49%. Moving Averages: The gold price has recently breached the 50-day moving average, which stands at 58,980. The 200-day moving average looms at 57,586. The cross below the 50-day indicates a bearish momentum in the short term. Potential Move: If gold price approaches the 200-day moving average of 57,586, there's potential for further downside towards 56,048. Oscillators: The asset is currently in an oversold condition, which can sometimes indicate a potential rebound. The optimistic signals stand at D: 6.54 and K: 3.21. MACD: The Moving Average Convergence Divergence (MACD) is still hinting at a bearish scenario, suggesting continued negative momentum. Fisher & Percentage R: Both indicators are positioned at the lower end, hinting at a potential bearish continuation. Fibonacci Levels: Post touching a low at the Fibonacci level of 57,653, gold made an upward move and attempted to break above the 0.5 Fibonacci level at 59,751 twice between July and August. However, it failed to sustain this and reversed its direction, breaking past the 0.382 and 0.236 levels. Current trajectory points towards a retest of the 57,653 level. Target Price for the Week: Considering the above technical factors and absence of any significant strategic updates from the Federal Reserve regarding interest rates, our projected target price for gold in the near term stands at 57,612. Disclaimer: This analysis does not provide any specific trading or investment recommendation. It is essential to note that the movements in gold prices can be significantly influenced by various macroeconomic factors and announcements from the Federal Reserve. Always consult with a financial advisor before making any investment decision. Disclosure: We do not have any vested interest in the gold market We may or may or maynot be having positions in the gold. This analysis is purely based on technical indicators and past market data.
MCX:GOLD1!Short
by finogent
Nifty 50 Analysis (One Week Outlook)📈 N ifty 50 Analysis (One Week Outlook) 📈 🔍 Observations: Chinese Economy Woes: The real estate sector in China is under stress, with it constituting 25% of the country's economy. This raises concerns. US Dollar Strength: There are indications of potential rate hikes which could bolster the USD. If this happens, we might see a capital flight from the Indian market. 📊 Nifty's Current Status: Nifty closed at a pivotal level of 19,310.15 on the last trading day. This level coincides with its 50-day moving average. A downward breach might indicate a short-term fall. 📉 Resistance and Potential Drop: Nifty has descended from a Fibonacci level of 0.25. If it breaks below the 50-day moving average, it might fall towards the 0.382 Fibonacci level, translating to 18,270. The projected moving average is 18,314, suggesting a potential fall of 7.69%. Historical trends, from Dec 2022 to 27th March 2023, indicate possibilities of a drop as steep as 10.25%. 🌎 Global Factors: Global cues, especially the state of the Chinese economy, will play a pivotal role in influencing the Nifty. Notable events to watch: The Global Symposium and listings like Jio and some other IPOs. 💡 Short-term Prediction: If Nifty breaches its 50-day moving average, the next target could be set at 18,270. ❌ Stop Loss: We're not setting a stop loss as we are trend following closely. ✅ Conclusion: Keep a keen eye on global events and the state of the Chinese economy. The next week will be crucial for traders and investors alike. Stay vigilant and trade smartly! 📅 Publish Date: 21st August 2023, 6:57 a.m. IST
NSE:NIFTYShort
by finogent
Wipro building the buy momentum📈 Weekly Stock Picks: NSE:WIPRO - Week Starting 4th September, 2023 📈 💡 Rationale for Selection: 📊 Technical Analysis: Parabolic SAR: Currently showing a sell signal, but the stock has rebounded. 📉➡️📈 Fibonacci Levels: Bounced back from near the 0.618 levels and surpassed the 0.5 levels. Indicates a trend reversal. 🔄 MACD: Expected bottom-up crossover; MACD line (1.3) expected to cross Signal line (2.32) confirming a bullish bias. 📈 Stochastics & RSI: K=23.18, D=9.03, showing the stock has reached oversold territory and is in a position to bounce back. 📈 Percentage R and Fisher 9: Indicate an uptrend is likely in the next 1-2 trading sessions. 📈 📰 Market Indicators: A surge in IT stocks recently. 📈 Mutual funds are showing increasing interest in IT stocks, expecting a boom. 🤝 🎯 Trade Parameters: 🟢 Entry Price: ₹416.25 (0.382 Fibonacci Levels) 🎯 Target Price: ₹422.20 🔴 Stop Loss: ₹41.75 #WiproLimited #StockPick #TechnicalAnalysis #Fibonacci #MACD #Stochastics #RSI #MutualFunds #ITBoom #WeeklyStockPicks #InvestWisely 📋 Disclaimers and Disclosures: Risk: Investing in stocks is subject to market risk. Please consult your financial advisor before making any investment decisions. The information provided is only for the education purpose and should not be considered as an investment advice or as stock recommendation. You are requested to take due diligence on your own accord and consult financial advisor, research analyst or a broker before acting on any information on it. We do not confirm any validity or correctness of the information and might change our viewpoint on the stock anytime, as per our discretion and research. Disclosure: This analysis is purely based on technical indicators and market trends as of 1st September 2023. Past performance is not indicative of future results. Conflicts of Interest: We may or may not have any vested interest in Wipro Limited as of the date of this report.
NSE:WIPROLong
by finogent
3
Analyzing LIC's Chart Trend: A Golden OpportunityThe Journey of LIC's Stock Price: LIC, one of India's most prominent financial institutions, made its debut on the stock market with high expectations. However, like many newly listed companies, its share price experienced a significant drop over the span of two years. This decline was disheartening for early investors but not entirely unexpected in the world of stock trading. What's essential in such situations is to assess whether the stock has the potential to regain its lost value and provide a promising investment opportunity. Building a Strong Base: One key aspect that often determines the future trajectory of a stock is the formation of a strong support base. During the downtrend, LIC's stock price seemed to have found solid ground, stabilizing around a certain price level. This stability suggests that sellers are losing their grip, and buyers are starting to show renewed interest. This is a critical phase where experienced traders keep a keen eye on the stock's price movements. The Fibonacci Golden Ratio: The Fibonacci Golden Ratio, a well-known tool in technical analysis, can offer invaluable insights into a stock's potential trend reversal. When applied to LIC's chart, we can observe that the stock has been displaying Fibonacci retracement levels that correspond closely to key price points. This alignment indicates that the market is paying attention to these levels, further reinforcing their significance. Entering the Trade: Now, let's discuss the optimal entry point for retail investors. As LIC's stock price consolidates between the ATH (All-Time High) and the NTD (No Trading Zone for Retailers), a prime opportunity arises. Retail investors should watch for signs of price stability and a break above the NTD, as this indicates growing confidence in the stock's resurgence. Once the price clears the NTD, it typically signifies a shift in market sentiment, with institutional and retail investors alike recognizing the stock's potential for a bullish run. However, it's important to exercise caution and avoid chasing the stock when it surges above the NTD, as this initial momentum can be volatile. Instead, patient investors should consider entering their positions during the consolidation phase between the ATH and NTD. This period allows for more stable and strategic entries, reducing the risk associated with chasing after a rapidly rising stock. Conclusion: LIC's journey on the stock market, from a steep drop in its listing price to the formation of a strong base and the signals from the Fibonacci Golden Ratio, paints a compelling picture for retail investors. By identifying the optimal entry points and patiently awaiting consolidation between the ATH and NTD, investors can position themselves for potential gains as LIC's stock recovers. Remember, successful trading requires thorough research, risk management, and discipline. Always consult with a financial advisor and conduct your own due diligence before making any investment decisions. The opportunity is there; it's up to you to seize it wisely.
NSE:LICI
by surendrachoudhary628
Banknifty daily analysis for 07/09/23.Banknifty has given a gravestone doji again and closed 123 poinnts lower. It has been trading around the 20 ema. The market has retested the 50% fibnocci level and retraced back in the last hour of the trading session. On the hourly charts, traded around the moving averages and gave a break down. During the last hour market recover and took resistance from the 200 ema, closing between both the moving averages. It created a base around 44250 levels and formed a morning star pattern. There is a U-shape recovery, on 15 minutes chart, which shows some bullishness in the market. There are chance of a bullish moving averages cross over on the smaller time frame as botht the moving averages are close by. Now market has closed around 44400 levels which give space for banknifty to move and either give a break out or break down. Support :- 44350, 44250, 44100 Resistance :- 44550, 44660, 44750 Banknifty on the weekly expiry showed some movement and during the last hour there was a volatile market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
2
Can $NSE:GUJGASLTD Will Test 485 LevelDear Followers, I hope you're doing well. I wanted to share a brief update regarding the short-term trend of the stock NSE:GUJGASLTD I have been monitoring. Currently, the stock is experiencing a Uptrend in its short-term price movement. My analysis indicates that market conditions and recent price action suggest a period of Increasing in prices. This information could potentially be useful for your investment / hedge strategy. If Stock Break 460-462 level then possibly we can see 475,480,485 level so if you are ready to take Risk then I have 2 Strategies For Month Of September Series that we can Deploy. 1) Buying an Option Buy NSE:GUJGASLTD 455 CE, Stop Loss= 8 Target = 18,23,25 Time Frame 7-8 Days Investment = 16250 maximum Loss= 6250 Profit Upto = 15000 2) Hedge strategy Stock Name- NSE:GUJGASLTD1! Future Entry Level - 452-454 Future Stop Loss Level- 448 Future Target Level- 475,480 Option Level- 455 PE Investment = 30000 Maximum Loss = 8500 Profit Upto = 17000 Best Regards, Ajay Metha
NSE:GUJGASLTDLong
by PrachiMetha
NBFCCanfin Homes There are only handful of Non Banking Finance Companies with good market capitalization looking good. By rejecting few companies whose negative change in promoter holding in recent quarter and those with high valuations leaves out CANFIN homes which recently had healthy correction and took support of 50% Fib retracement and showing reversal. Trend has been changed since Sep 1. Valuations of this company is reasonably good in the industry and has good earnings yield as well. Concerns: 1. High Debt to equity ratio 2. Low Interest Coverage Ratio considering high debt in the industry 3. Promoter holding has always been at 29.99% 4. Solvency Altman Z score is in grey area of 1.02. Z Score above 2.99 is stable. 5. Need to check what other borrowings are. Rising significantly since 2021. There is one other housing finance company whose fundamentals are very good with very low debt but high valuations among the industry and is still in downtrend technically. "Aptus Value Housing Finance India Ltd"
NSE:CANFINHOMELong
by naraykln