Fibonacci
BANK NIFTY weekly analysisBank nifty is facing strong resistance @23400-23700 level
Supply zone is @ 22275-22600
Demand zone @ 20950-21180
Demand zone @ 20000-20360
Strong support @ 18560-19050
HDFC BANK Fibonacci retraced 50%In the Recent Fall HDFC Bank retraced 50% from its lows. same as NIFTY 50, now NIFTY looks reversal same could be the case for all indexed stockes which retraced to certain levels. we could see 850 levels in HDFCBANK in this MAY series.
AHOKLEY Fibonacci Retracements in this 2year downfall.On weekly chart we can see that it has retraced 50% twice.
it has retraced alomost 100%.
Now it has retraced almost 38% which is at 53 level, i.e today it touched 50.4 levels. considering the economic situation it is difficult to retrace 50% level. if nifty support it can do so.
M&M Fibonacci retracement closed above 38.2 percentIt just closed above 38.6 % of retracement with increased volumes. It can easily reach 50% level.i.e 417. Need to observe price action level at that point.
berger paint fundamentals and panic criss cross crude is down is fundamental positive
market panic is near term negative
Resistance zone for possible re-entry for shortThe two levels act as resistance zone . This zone is confluence of Fib 50% retracement level, 200 ema , trendline retest/resistance, and a broken support level which turned into resistance (this level held nicely during last bullish breakout retest, so strong support turned into strong resistance)
GOLD forming Cup pattern, Triangle and Consolidation breakoutGold prices have retrace and consolidated around 50% of prior rally. Multiple breakouts and formation suggest that we may see Gold higher till 48k by the current calendar year.
Banknifty retraced by fibonacci to its 0.618 level and closeBank nifty retraced by Fibonacci to its 0.618 level. the high is touch on retracement level. May be bank nifty continue its trend. same achive its target on Head and shoulder pattern. on down side.
