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Fibonacci

Will Reliance continue its Downtrend ?The price declined about 13% from the high of 2631. Also the degree and nature of separation of ema bands indicates a downtrend. If the price is rejected from the level of 2362 then it will continue its downtrend. And for an uptrend the price has to break the resistance zone with momentum. It's important to consider, the long-term band is in the resistance zone. So wait for the price to clear its trend. Currently we are at make or break levels. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes. Thanks Er. Simranjit Singh Virdi
NSE:RELIANCE
by ssvirdi
2
Get ready for a move of 8%After making a low of 168 the price rebounds with a good momentum. Now the price has entered the resistance zone. The breakout of 178 will open the levels of 190. GMMA Indicator for Trend Signs: 1. The degree and nature of separation in the long-term group of EMAs indicates a pause in the long term trend. 2. The degree and nature of separation in the long-term group of EMAs indicates a trend reversal. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. Thanks Er. Simranjit Singh Virdi
NSE:ASHOKLEY
by ssvirdi
Nifty daily analysis for 18/10/23.Nifty is still unable to trade above the resistance levels of 19850. After a gap up opening the market came for selling and consolidated around the level. There was a sell off in the second half, taking support around the support level as well as the 20 ema on the hourly charts. Market gave a nice move but there was no follow through in the markets. The markets are holding on the higher levels which signifies there will be a break out trade in the coming days. Of the major trend the market has crossed and sustain above the 50% fibonacci level but it is unable to test 61.8% levels. On the 15 minute charts, the market tried to sustain the higher levels and in the second half it started trading below the 20 ema. Support :- 19780, 19730 Resistance :- 19840, 19900 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Primary Wave B rise ending soon.Cycle wave 1 range: 11108-39444,Currently We are in Cycle wave 2(Not shown) Primary wave B(Red) Intermediate wave C(Orange) Minor wave 5(White) Going by the internal structure it seems like cycle wave 2 is taking a form of zigzag correction where in we are almost done with primary wave B.Going ahead we can see a impulsive fall in the form of primary C which can take prices between 25200-25300 as we are having 50% retracement of entire cycle wave 1 at 25277 and 61.8% extention of primary wave A for wave C is coming at 25307.On the upside this primary wave B(for a zigzag) should retrace 61.8% primary wave A which is coming at 34381,but here we have stopped around 50% retarcement coming at 32816.Adding to it we also have 138% extention of wave intermediate wave A for wave C coming at 33107.Although we have penitrated both the levels on the upside but it seems like rally that started from 27000 is loosing steam as we can see a rising trendline has been breached connecting minor wave 2 and wave 4 pivot lows. On the downside a close below 31400 can be a confirming evidence for the end of wave B rise. Disclaimer:This analysis is for my future reference no position should be taken solely on its basis.
NSE:CNXITShort
by UNDERDOG-29
Asian Paints near a break down.Asian Paints has been taking support from the 200 ema on the daily charts and is trading between both the moving averages. The stock closed below the weekly 20 ema and today test the level and closed almost flat. If the market remain in a bearish trend, there can be a short trade in the stock as it has test the support levels many times. Entry :- Below 3150 Targets :- 3090, 3048 The stock today tried to move up but slowly came down and closed near the support levels of 3150. Asian paints has been trading below both the moving averages on the hourly and 15 minutes charts. Positional and swing trade can be initiated in the stock as it may take 2-3 days in hitting the targets. Wait for the price action near the levels before entering the trade.
NSE:ASIANPAINT
by TheMamboMomentum
Will $NSE:BAJAJ_AUTO Sustain ? Dear Followers, I hope this message finds you well. I wanted to provide you with a brief update on the stock NSE:BAJAJ_AUTO I have been monitoring. It appears that the stock is approaching a potential resistance level Near 5180-5250 This is an important technical point where the price has historically had difficulty breaking through. It suggests that we may see a temporary halt in the current upward momentum and Possibly it will test 4700 In Downmove. Resistance Levels to Watch out. R1= 5120 R2= 5180 R3= 5280 Support Levels To Watchout. S1= 4900 S2= 4680 S3= 4500 As always, please remember that investing involves risks, and it's important to carefully consider your options. If you have any questions or would like to discuss this further, please don't hesitate to reach out. Best regards,
NSE:BAJAJ_AUTO
by PrachiMetha
Ashok Leyland Support BrokenAshok leyland opened flat but during today's session the price dropped more than 3%. A strong body red candle broke the support of 175.90 which is a shallow pullback retracement level of 23.60%. Also it's important to mention that the moving averages are in a bearish cross. So, all these indicate a downtrend. The next important level to consider is 166.80 which could act as a strong support. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. The material is only for educational purposes. Thanks Er. Simranjit Singh Virdi
NSE:ASHOKLEY
by ssvirdi
Ashok Leyland - Fibonacci Retacement & Trendline Breakout!!!Ashok Leyland had now rested as per Fibonacci levels. The stock is also testing the trend-line. A break-out of the trend-line with volumes with lead the upward journey again. Other factors: 1. Positive news - Ashok Leyland bags orders for 1666 new buses from Tamil Nadu Govt. to be executed between November 2023 and March 2024 2. RSI diversion - moving upwards 3. MACD - On the verge of being postive 4. Trendline breakout "Clean Charts, Easy Charts" Learning & Earning!! Cheers!!
NSE:ASHOKLEYLong
by Cleaneasycharts
ELECTCAST LONGLets analyse a stock with wyckoffian 3rd law ..... ..........Volume is the EFFORT and Spread (Price) is the RESULT ............. someone just looking at only price and ignoring ........VOLUME ............ HALF the data thats available for analysis Wyckoffian 3rd Law also gives importance to HARMONY ( small spread and small volume) .................. ANAMOLY ( small spread with large volume or large spread with small volume ) ...... both are important when we analyse the chart and activity of the COMPOSITE MAN candle 1 and 5 is harmony and candle 2,3 ,4 are ANAMOLY candle 1 ... large volume high range candle with breakout , candle 2 was low range but high volume ....... price had a pause for few days ... , candle 3 high range and low volume candle ... manipulation by composite man to shake out weak hands candle 4 ..... high range candle with low volume ....candle 5 ..... again the smart money checking the easy of movement and could get a high range candle with less volume(Less EFFORT ) compared to the breakout volume ....... stock is ready to be marked up once we understand this Target 1 reached .. calculated by fibonacci extension tool target 2 can also be calculated
NSE:ELECTCAST
by NareshBiyani99
Does $NSE:COCHINSHIP will Face Resistance?Dear Followers, I hope this message finds you well. I wanted to provide you with a brief update on the stock NSE:COCHINSHIP I have been monitoring. It appears that the stock is approaching a potential resistance level Near 1250-1270 This is an important technical point where the price has historically had difficulty breaking through. It suggests that we may see a temporary halt in the current upward momentum and Possibly it will test 930-900 In Downmove. Resistance Levels to Watch out. R1= 1210 R2= 1280 R3=1340 Support Levels To Watchout. S1= 980 S2=900 S3= 820 As always, please remember that investing involves risks, and it's important to carefully consider your options. If you have any questions or would like to discuss this further, please don't hesitate to reach out. Best regards, Ajay Metha
NSE:COCHINSHIPShort
by PrachiMetha
6
Can $NSE:TITAN Will Fly ?Dear Followers, I hope this message finds you well. I wanted to provide you with a brief update on the stock NSE:TITAN I have been monitoring. It appears that the stock is approaching a potential resistance level Near 3350-70 This is an important technical point where the price has historically had difficulty breaking through. It suggests that we may see a temporary halt in the current upward momentum and Possibly it will test 3020-3000 In Downmove. Resistance Levels to Watch out. R1= 3360 R2= 3480 R3= 3620 Support Levels To Watchout. S1= 3150 S2= 3030 S3= 2880 As always, please remember that investing involves risks, and it's important to carefully consider your options. If you have any questions or would like to discuss this further, please don't hesitate to reach out. Best regards, Ajay
NSE:TITAN
by PrachiMetha