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Fibonacci

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
discounted stock HINDALCOTechnical Analysis Summary: Trend Analysis: HINDALCO INDUSTRIES LTD is currently exhibiting a bullish trend, characterized by higher lows and higher highs. The stock has shown strong upward momentum. Breakout Level of 2021: Significant interaction with this level, indicating its importance. Candlestick Pattern & Price Action: Bullish Engulfing and Doji patterns suggest potential bullish reversals and strong buying interest. Conclusion: The stock is currently in a potential buy zone within the green reversal area. Monitor key support and reversal levels for potential price movements. The RSI and volume indicate a neutral position with significant trading activity, supporting a potential reversal if buying pressure increases. Key Levels: Support Zone (Yellow): Between ₹556-₹603 . This is the range where the stock has shown buying interest and potential support. Reversal Zone (Green): ₹608-₹639 This zone indicates a potential area for price reversal and is likely where buyers might step in. Target Levels: ₹728.35 (Target 1), ₹774.75 (Target 2), ₹833.90 (Target 3) RSI (Relative Strength Index) and Volume: RSI: The Relative Strength Index (RSI) is currently at 47.02, indicating a neutral position. It suggests that the stock is neither overbought nor oversold. Volume: The recent volume is 9.01M, showing significant trading activity around key levels.
NSE:HINDALCOLong
by TechnicalAnalystSucrit
NIFTY: Trend Shift Signals Deeper Correction PotentialTopic Statement: NIFTY has broken below its long-term up trendline, indicating a shift in trend with potential for further downside. Key points: 1. The price has breached the long-term up trendline, suggesting a bearish or sideways trend. 2. Immediate support may be found at the 23.6% retracement level at 21,851. 3. Further correction to the 38.2% retracement level at 19,100 is possible. 4. The trend will remain bearish or sideways until a breakout above the down-trendline occurs.
NSE:NIFTYShort
by yogeshwar
Positional or Long term Opportunity in Shipping Corp Of IndiaGo Long @ 205.7 for Targets of 241.1 and 276.5 with SL 188 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. Besides, a bullish candlestick pattern Bullish Hammer (marked with orange) is formed around the 0.618 Fibonacci level. 3. Also there is a strong Trendline (marked with green color) which supports the stock. 4. In addition to this there is a strong support zone (marked with purple) from which the stock is taking support.
NSE:SCILong
by Nimish_Ghagare
1
FIN-NIFTY analysis for the weekKey Observations: Current Price: 23,174.35 INR Price Change: +2.85 INR (0.46%) Volume: 1,887,686 shares Timeframe: Daily Conclusion: Short-Term Traders: Monitor the reversal zone closely for potential entry points. Use the target levels as potential profit-taking zones. Long-Term Investors: Keep an eye on the key support levels to gauge market strength and make decisions accordingly. Risk Management: Maintain a stop-loss slightly below the lowest support level (22,878.40) to minimize potential losses. This technical analysis suggests a balanced market sentiment with potential for upward movement if the reversal zone is respected. The multiple target levels offer opportunities for traders to capitalize on price momentum shifts. Technical Analysis Summary: Price Action: The current price is within a well-defined trading range. The highlighted reversal zone suggests a potential area where price momentum could shift. Support and Resistance: Multiple support and resistance levels provide a comprehensive framework for potential price movements. The key support level at 22,878.40 might act as a strong defense against further price decline, while the target levels indicate potential upward price movement if the reversal is confirmed.
NSE:CNXFINANCELong
by TechnicalAnalystSucrit
Angel One: Finding Support Amid Market Correction Topic Statement: Angel One has declined along with the broad market correction but is receiving strong support at key technical levels, suggesting a potential stabilization. Key points: 1. The price is receiving crucial support at the 50% retracement level, as it had previously. 2. The 2000 level aligns with the 50% retracement level, acting as a strong support zone. 3. The stock is currently trading below the 45-day moving average making the price oversold.
NSE:ANGELONELong
by yogeshwar
POONAWALLA Analysis!On this chart, there are special lines called "Fibonacci levels," which help guess where the price might stop or change direction. Here's the easy part: Fibonacci Levels: Think of these as road signs on the chart. They show where the price might find support (like a safety net) or resistance (like a ceiling). Blue Arrow: This arrow suggests that the price might go up. Price Increase Note: The chart says that the price could increase around 20%. feel free to ask! 😊
NSE:POONAWALLALong
by iVishalPal
RBLBANK!Simple explanation: Candlesticks: Each candlestick shows the price of the stock for one day. A green candlestick means the price went up that day, and a red one means the price went down. Fibonacci Retrenchment Levels: These horizontal lines are like checkpoints, showing important price levels where the stock might stop and change direction. Think of them as guideposts on a trail. Price Targets: These are the expected price levels the stock might reach. For example, if the stock moves up, it could hit the price target marked by an arrow. Volume: This shows how many stocks were traded. A high volume means lots of people were buying or selling that day. Current Price: The current price of the stock is ₹152.79, which is down by 7.02%. So, traders use this chart to understand past price movements and predict future changes, helping them make decisions on buying or selling the stock. 📈📉 Hope this helps! If you have questions, just let me know.
NSE:RBLBANKLong
by iVishalPal
MAHARASTRA SEAML - Aggressive Reversal Bet!Price Analysis & Overview: 1. EMA support taken. 2. Strong Fib support zone. 3. Blast above 900 4. 100%+ Potential 5. Need good volumes 6. Entry above 710 post confirmations 7. Strong buying candle formation is needed. - Stay tuned for further insights, updates and trade safely! - These are my personal views. - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:MAHSEAMLESLong
by SuperNova396
Redington: Swing Trade OpportunityRedington has demonstrated a significant recovery after a rebound from the demand zone, which is identified between the price levels of 158 to 161. The stock has successfully breached the previously established resistance range of 186 to 189, closing above this critical level, which is a positive indicator for potential further upward movement. The price movement from lower lows to higher highs illustrates a robust bullish trend. Notably, the stock has encountered the 61.8% Fibonacci retracement level multiple times, reinforcing the notion of a strong upward trajectory in the near term. This recurring interaction with the Fibonacci level suggests that the market participants view this area as a strong point of support and resistance, which is crucial for traders to consider. Further corroborating the positive outlook, both the Relative Strength Index and the Moving Average Convergence Divergence indicators on the daily and weekly time frames reflect strong buying momentum. An RSI value above 70 may indicate an overbought condition; however, current readings suggest that the stock is not yet in that territory, leaving room for potential upward movement. Meanwhile, the MACD crossing above its signal line indicates a bullish trend. The stock currently appears poised for accumulation at the current market price. Traders and investors should be aware of a potential resistance range at approximately 225 to 227. It is advisable to consider placing a stop-loss order below the demand zone, ideally around the 158 level, to mitigate potential losses in the event of an unfavourable market movement. Disclaimer: The information contained in this technical analysis report is for informational and educational purposes only and should not be construed as financial advice. It is recommended that individuals conduct their own research or consult a qualified financial advisor and consider their financial situation and risk tolerance before making any investment decisions.
NSE:REDINGTONLong
by NiftyNotion
1