BankNifty Daily, Butterfly pattern completed!Beautiful Butterfly 🦋 pattern has completed on Daily chart of BankNifty.
Expect some profit booking or neutral trend in coming days up-to 55840 level.
Most near level is the re-test of 78.6% level ( 56013 ), for a new UP trend ( investors ).
" Buy 🟢 " above 56013 with the stop loss 🔻 of 55840, for the
🎯 Target 1: 56300
🎯 Target 2: 56500
🎯 Target 3: 57000
🎯 Target 4: open.
" Sell 🔴 " below 55631with the stop loss 🔺 of 55843, for the
🎯 Target 1: 55363
🎯 Target 2: 55095
🎯 Target 3: 54763
🎯 Target 4: open.
Smart Levels is Smart Trading. 👨🎓
⚠ RISK DISCLAIMER :
All content provided by "TradeWithKeshhav" is for information & educational purposes only.
It does not constitute any financial advice or a solicitation to buy or sell any securities of any type. All investments / trading involve risks. Past performance does not guarantee future results / returns.
Always do your own analysis before taking any trade.
Regards :
@TradeWithKeshhav & team
Happy Trading and Investing!
Fibonacci Extension
Nifty 50 Daily, Trend Based Fibonacci Extension (Natural levels)Hey Traders, I hope you all are doing well in your life.
Market is nature's response and Price is the God.
Let's check the market with the help of natural levels tool : Trend Based Fibonacci Extension .
After forming a ' W ' pattern on Daily chart, Nifty50 has given a pull-back ( base for Fib-Extension level tool, 24587 ).
Most near level is the re-test of 38.2% level ( 24980 ), for a new UP trend ( investors ).
" Buy 🟢 " above 25110 with the stop loss 🔻 of 24980, for the
🎯 Target 1: 25402
🎯 Target 2: 25650
🎯 Target 3: 26260
🎯 Target 4: 26500.
" Sell 🔴 " below 24960 with the stop loss 🔺 of 25110, for the
🎯 Target 1: 24880
🎯 Target 2: 24780
🎯 Target 3: 24680
🎯 Target 4: 24500.
Smart Levels is Smart Trading. 👨🎓
⚠ RISK DISCLAIMER :
All content provided by "TradeWithKeshhav" is for information & educational purposes only.
It does not constitute any financial advice or a solicitation to buy or sell any securities of any type. All investments / trading involve risks. Past performance does not guarantee future results / returns.
Always do your own analysis before taking any trade.
Regards :
@TradeWithKeshhav & team
Happy Trading and Investing!
GOLD Marching Toward $4,000 Zone? Gold Holds Firm Above 3,900Gold starts the week with relentless bullish momentum, breaking through 3,900 USD for the first time and eyeing new record highs.
The rally is fueled by safe-haven demand as the US government shutdown drags on and market expectations grow for an upcoming Fed rate cut. Despite a stronger USD and risk appetite in equities, gold buyers remain firmly in control.
🔎 Technical Outlook (H1 – FIBO Matrix)
📍 Reaction Buy Zones
3884 – 3880 (Fibo 0.5 support) → Short-term demand pocket.
386x (Fibo 0.618 H1) → Stronger liquidity-backed support, high-probability rebound zone.
📍 Reaction Sell Zones
393x – 394x (Fibo Extension 1.5 – 1.618) → Intraday resistance, possible rejection.
4,000 (Psychological Round Level) → Key psychological barrier; heavy liquidity likely.
🎯 Trade Plan
1️⃣ BUY Scenario
Entry: 3884 – 3880 / 386x, wait for bullish confirmation.
Targets: 3925 → 3940 → 4000.
Stop Loss: Below 3850.
2️⃣ SELL (Short-term Scalp)
Entry: 393x – 394x or rejection at 4000.
Targets: 3900 → 3884.
Stop Loss: Above 3952.
⚡ Key Insights
Trend bias remains bullish → Prefer long setups from strong Fibo supports.
3925 is the immediate hurdle, 4000 the ultimate psychological wall.
Watch USD volatility and Fed commentary for intraday direction.
💬 What’s your take, India?
Do you expect Gold to hit 4,000 this week, or will sellers defend the zone? Drop your setups 👇
LiamTrading – GOLD Weekly Plan ..GOLD Weekly Plan: Prepare for a Breakthrough to a New ATH
The new trading week opens with extremely complex sentiments — many traders are confused, and even the “big players” are cautious.
But if you look closely at the price structure, everything becomes clear: gold is still in a sustainable uptrend.
🧠 Psychological & Trend Analysis
Gold has just closed the week with a strong upward momentum, confirming the continuation of the medium-term uptrend.
At this stage, “Selling at the peak” is almost a dangerous move – as each correction is shallow and quick, not allowing sellers enough time to exit.
This creates a strong “fear of missing out” (FOMO) sentiment – driving funds to continue pouring in when the price hits the trendline or technical retracement zones.
📊 Technical Analysis
On the H4 chart, the upward structure of gold is clearly visible following the impulse + correction box pattern (each accumulation – breakout repeats).
The 3820–3830 zone continues to be the “golden retracement point” as it coincides with the medium-term uptrend line.
Last week's bounce from this zone brought excellent profits for those who patiently waited.
Currently, the next target for gold lies at the Fibonacci 1.618 zone – around 3980, which is also a significant psychological level where many investors might take profits.
🎯 Trading Scenario
Buy setup (trend-following):
Entry: 3830
Stoploss: 3815
Take Profit: 3980
Sell reaction (short-term upon reaching target):
Entry: around 3980
Stoploss: 3988
TP open depending on price reaction (scalping strategy)
🔍 Conclusion
Gold is still on the right growth trajectory, with short corrections merely opportunities to “accumulate”.
Continue trading with the trend, patiently waiting for the price to retrace to strong confluence zones instead of FOMO at high prices.
I will continue to share more details in daily updates here.
Follow me to not miss the latest gold scenarios.
Gold Outlook: Eyeing $4,000 – Fibo Expansion Zones in PlayGold continues to benefit from safe-haven demand as political risks in Washington and mixed U.S. data keep investors cautious. The metal is trading inside a clear bullish channel, with Fibonacci projections suggesting further upside before any major correction.
📊 Technical Deep Dive – H4 Structure
🔹 Fibonacci Confluence
The current rally respects 0.618 retracement at $3,820 and 0.786 retracement near $3,872, confirming algorithmic order flow.
Next expansion points are sitting at Fibo 1.5 – 1.618 ($3,995 – $4,003), a major liquidity target where reactions are likely.
🔹 Liquidity Pockets
$3,820 – $3,828: Historical demand block + Fibo 0.618, strong buy reaction zone.
$3,860 – $3,872: Active reaction layer, intraday support if retested.
$3,995 – $4,003: Key sell reaction zone, a liquidity grab area before possible retracement.
🔹 Candle & Flow
Breakout candles show strong momentum, pushing price toward untested liquidity.
However, multiple tests of $3,895 signal distribution pressure ahead of the $4,000 test.
🎯 Trade Playbook
🟢 Bullish Setup (Main Play)
Entry: $3,860 – $3,872
Targets: $3,895 → $3,995 → $4,003
Stop: Below $3,850
🔵 Deep Buy Setup (Aggressive)
Entry: $3,820 – $3,828
Targets: $3,872 → $3,895
Stop: Below $3,808
🔴 Countertrend Short (Scalp)
Entry: $3,995 – $4,003
Targets: $3,970 → $3,950
Stop: Above $4,010
⚡ Key Insights
Watch for a $4,000 liquidity sweep – could trigger either breakout continuation or sharp pullback.
If $3,860 support fails, deeper correction into $3,820 is expected before next rally.
H4 close above $3,895 strengthens bullish bias toward $4,003+.
📌 Question for traders: Will Gold break $4,000 and run, or is this a setup for a liquidity trap before correction? Share your view 👇
Gold Trading Plan | Limited Downside, Key Fibo Zones in Play🌍 Market Context
Gold is facing renewed selling pressure after yesterday’s bounce from the $3,820 area.
Risk-on sentiment and fresh USD buying are weighing on XAU/USD.
However, expectations of Fed rate cuts later this year and geopolitical tensions remain supportive, limiting deeper downside moves.
📊 Technical Analysis – Fibo Matrix Setup
🔴 SELL Reaction Zones
386x – 388x (Fibo retracement 0.5 – 0.618 + 0.786 confluence)
→ Intraday SELL scalp zone with strong rejection probability.
3881 – 3892 (Fibo 1.5 – 1.618 downtrend extension)
→ Key SELL liquidity zone for deeper rejection.
🟢 BUY Support Zones
3820 – 3819 (short-term recovery base) → Initial intraday support.
3795 – 3793 (Fibo 1.5 – 1.618 recovery zone) → Major liquidity pocket, ideal for BUY setups if tested.
🎯 Trading Scenarios
1️⃣ SELL Setup
Entry: 386x – 388x (watch rejection candlesticks).
Target: 3820 → 3795.
Stop Loss: Above 3892.
2️⃣ BUY Setup
Entry: 3795 – 3793 with bullish confirmation.
Target: 3860 → 3880.
Stop Loss: Below 3785.
⚡ Key Notes
USD momentum is crucial – if dollar strength continues, Gold may retest 379x zones.
Fed’s rate cut outlook and geopolitical headlines remain the “floor” for Gold.
Stick to clear Fibo reaction zones for best risk-to-reward setups.
💬 Community Insight:
Do you expect Gold to hold 3820 before bouncing, or will we see a flush into 379x liquidity?
Drop your setups below 👇
XAUUSD Daily Plan – Gold’s Pullback Before the Next Leg Higher📊 Market Overview
Gold has pulled back from its fresh record highs but the move looks more like healthy accumulation than a reversal. The 3,800 zone has acted as a strong support, absorbing selling pressure and keeping the broader bullish trend intact. Immediate rebounds confirm that buyers are still in control, preparing for the next breakout.
📍 Key Levels to Watch
🔴 SELL Reaction Zone
3,871 – 3,872 → First resistance level, possible short-term rejection.
3,915 – 3,920 (Fibo Liquidity Zone) → Stronger sell wall where profit-taking may appear.
🟢 BUY Zones
3,808 – 3,810 (Fibo 0.786 Support) → Important reaction zone for intraday buy setups.
3,747 – 3,752 (Fibo Liquidity Buy Zone) → Deep correction level, strong long-term demand area.
🎯 Trading Scenarios
1️⃣ Bullish Continuation Setup
Entry: Buy near 3,808 – 3,810 on bullish candlestick confirmation.
Targets: 3,871 → 3,900+
Stop: Below 3,795
2️⃣ Deep Pullback Opportunity
Entry: 3,747 – 3,752 if price flushes lower.
Targets: 3,808 → 3,871
Stop: Below 3,735
3️⃣ Countertrend SELL Setup
Entry: 3,915 – 3,920 only with strong rejection.
Targets: 3,871 → 3,808
Stop: Above 3,928
⚡ Trading Notes
Gold remains in a strong bullish channel – selling should only be tactical and short-term.
Watch US political headlines and end-of-month flows, as they could trigger volatility.
Stick to defined Fibo zones for best risk-to-reward setups.
💬 Community Discussion
Do you think Gold will test 3,900+ this week or will we see a deeper correction first? Share your charts and ideas below 👇
XAUUSD – Gold Daily Plan | Sharp Drop, What’s Next?Gold printed a sudden 70+ point drop from 388x to 380x, leaving traders questioning:
– Was this a big player manipulation?
– Or simply institutional profit taking?
Key reaction zones will define if Gold holds above 3800 or dives deeper.
📍 Critical Levels
🔴 SELL Reaction Zone
387x → Strong resistance where sellers may step in.
🟢 BUY Zones
3780 (Retest Breakout + Trendline) → First demand zone.
375x (Fibo Support Zone) → Strong liquidity pocket, potential reversal.
🎯 Trading Scenarios
1️⃣ SELL Idea
Entry: 387x
Targets: 3800 → 3780
SL: Above 3888
2️⃣ BUY Idea
Entry: 3780 – 375x
Targets: 3838 → 387x
SL: Below 3745
⚡ Trading Notes
High volatility expected near 3800 psychological mark.
Stick to zone trading – avoid mid-range traps.
Monitor USD strength; any spike could pressure XAU further.
💬 Discussion
Do you think Gold will break below 3800 or bounce back to test 387x? Drop your views 👇
Gold Bulls in Control: Buy Zones Lined Up for the Breakout!📊 Market Context
Gold is trading near record highs around $3,850, heading toward its best month in 14 years. With Q3 2025 and September closing, gold has surged nearly 12% this month, driven by rising safe-haven demand amid the looming U.S. government shutdown and weaker USD sentiment.
The bullish structure remains intact, and dips continue to attract aggressive buyers.
📍 Key Trading Levels
🟢 BUY Zones
3846 – 3843 → Intraday BUY scalp zone
SL: 3836
TP: 1R → 2R → 3R → 4R (hold longer if above 389x)
3818 – 3816 → Deeper reaction BUY zone
SL: 3810
TP: 1R → 2R → 3R → 4R (limit orders can be set for extended swing positions)
🔴 SELL Reaction Zone
Around 387x → Expect heavy profit-taking and short-term pullbacks.
🎯 Trade Plan
Prioritize BUY setups only; gold remains in strong bullish momentum.
Use the 384x zone for scalps and 381x zone for deeper limit buys.
Trail stops once price breaks 389x, opening room for 3920+ targets.
⚡ Trading Notes
Volatility may spike with U.S. political risks – manage positions carefully.
Avoid chasing highs; wait for structured retracements to BUY zones.
Stick to R/R discipline; market rewards patience in strong trends.
💬 Community Insight
Do you think gold will smash through 3920+ this week, or will we get another retracement first? Drop your setups and let’s compare strategies 👇
XAUUSD – Gold Bulls Eye New Highs | Francis FiboMatrix Plan📊 Market Outlook
Gold keeps climbing with momentum, now approaching the 3,800$ zone. The market is fuelled by expectations of more Fed rate cuts and rising demand for safe-haven assets as global uncertainties stay elevated.
Silver is also breaking higher, heading toward its historic $50 target, confirming the broader strength in precious metals.
📍 Trading Levels
✅ BUY Zone: 3782 – 3780
🛑 Stop Loss: 3772
🎯 Take Profits:
TP1 → 3800
TP2 → 3829
TP3 → 3848
TP4 → 3885+ (long-term hold if 377x holds support)
⚡ Trading Plan
Only look for BUY setups on dips – no shorting in this phase.
Keep position sizing balanced; trail stops once price moves past 3829.
Bias remains bullish as long as gold holds above 377x support.
💡 Francis Note
This is not just a trade – it’s part of the bigger wave. Play the retracements smart, respect risk, and let the trend do the heavy lifting.
💬 Your View?
Is gold ready to break beyond 3,885 → 3,900, or will we get a quick pullback first? Drop your charts and setups below 👇
OFSS: Setting Up for a Relief Rally?🔍 Introduction
This analysis starts from the 1-hour timeframe, where price action shows signs of exhaustion at the tail end of a 5-wave decline. A classic ending diagonal in wave c, along with bullish RSI divergence, points toward a potential short-term reversal — possibly the start of Wave B in a larger A-B-C corrective structure. We then zoom out to place this setup within a broader W-X-Y correction that began from the 13,220 high.
🕐 1H Chart: Ending Diagonal + RSI Divergence into Key Zone
Following the peak at 9775, price has been declining in what appears to be a ABC zigzag correction. Subwave 5 (within wave c) exhibits ending diagonal behavior, with overlapping internals and weakening thrust. Importantly, RSI has been printing higher lows, diverging strongly against lower price lows — a signal of potential bottoming.
Price is also testing the 1.618 Fibonacci extension level. A decisive breakout above the upper trendline would confirm a likely transition into Wave B.
🟢 Watching closely for a decisive breakout / close above the channel.
📆 Daily Chart: W-X-Y Structure from 13,220 High
Zooming out, ORACLE FIN SERV is unfolding a W-X-Y correction from its 13,220 high:
Wave W completed as a zigzag down to 7038.
Wave X unfolded as a zigzag rally, peaking at 9775. Notably, Wave C of X did not reach 100% of Wave A — signaling internal weakness.
Wave Y is now developing as a red A-B-C structure, with Wave A possibly ending near the 8930 level.
🧠 Conclusion & Key Levels to Watch
Wave A of Y appears to be nearing completion, supported by:
Ending diagonal structure in wave C (1H)
RSI bullish divergence
Price stalling at 1.618 extension
A breakout above the channel could mark the start of Wave B — potentially retracing 38–61.8% of the drop from 9775
📌 This setup offers both short-term and structural clues. I’ll post follow-ups as this unfolds.
⚠️ Disclaimer
This post is for educational purposes only and does not constitute financial advice. Please do your own research and manage risk appropriately.
AU Small Finance: Final Push or Start of a Pause?AU Small Finance Bank has delivered a impulsive rally over the last few months. Starting from the March lows near 478, price unfolded into a clean 5-wave structure that carries all the classical Elliott Wave characteristics. Each leg followed the rules beautifully — with Wave 3 extending nicely, Wave 4 forming a triangle, and Wave 5 launching higher from there.
At present, Wave 5 has already reached 808, which satisfies the minimum Fibonacci projection of 1.0 (792) measured from Waves 1 through 3. However, it remains slightly open whether this fifth wave has fully matured. The upper target zone extends toward 1.618 projection, near 855, and price action in the coming sessions will be crucial in determining if there's a final push left before the larger corrective phase kicks in.
Should Wave 5 be complete — or once it completes — the market would likely transition into a corrective phase labeled here as Wave 2 or B, depending on whether this rally was the beginning of a larger impulsive sequence or part of a more complex corrective structure. Typically, corrections following a full 5-wave impulse retrace deeper than most traders expect. The initial shallow support may emerge near the 0.382 retracement around 682, but more meaningful supports sit at 0.5 retracement near 643 and potentially even 0.618 near 604. These zones will be critical to watch as the structure unfolds.
Invalidation for this entire bullish structure would sit below the origin of Wave 1, meaning any sustained breakdown below 580 would negate the bullish scenario entirely. But for now, the focus remains on watching how price behaves inside this final leg of Wave 5 — whether it's already done, or teasing a last-minute extension toward 855 before correcting.
As always, market structure will continue to guide the next moves, and updates will be made as price action evolves.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
BEL hits key level, a cool off ahead before next leg up?Bharat Electronics is unfolding a clean impulse. After completing Wave ii at 304.80, price surged into Wave iii, which has now reached the 1.618 Fibonacci extension near 410. Interestingly, while price made new highs, RSI is showing early signs of bearish divergence, hinting at a possible Wave iv pullback. The retracement zone between 385 and 370 may act as support before the uptrend resumes. As long as price holds above 319, the bullish structure remains valid.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
VPRPL - NSE | Daily Timeframe📊 VISHNU PRAKASH R PUNGLIA LTD (VPRPL) – NSE | Daily Timeframe
📅 Date: May 29, 2025
📈 CMP: ₹190.49 (−0.41%)
📌 Ticker: NSE:VPRPL
🧠 Technical Overview
✅ Cup & Handle Pattern in Formation 🍵
Price action is carving out a clean Cup & Handle base near the ₹195.80 resistance zone. A breakout above this neckline could ignite a fresh upside rally. The symmetry, volume spike, and recent bullish structure are all supporting potential continuation.
🧪 Volume Analysis
Noticeable volume increase as the price nears breakout zone, indicating accumulation and rising interest.
📍 Key Levels to Watch
🟡 Breakout Resistance:
₹195.80 (horizontal neckline)
🟢 Support Zone:
₹174.50 (base support of the cup)
₹165 (lower handle risk zone)
🎯 Potential Targets (Post Breakout):
₹220
₹240
₹265 (pattern-measured target zone)
💡 Trade Plan
Entry (on breakout): ₹196+ (with strong volume confirmation)
Stop Loss: Below ₹174
Target Range: ₹220–₹265
Risk-Reward: ~1:2.5+
⚠️ Disclaimer
This chart analysis is for educational purposes only. Always DYOR (Do Your Own Research) and consult a financial advisor before making investment decisions.
DIVISLAB - Cup Pattern Breakout with Bullish Flag Consolidation📊 DIVISLAB – Cup Pattern Breakout with Bullish Flag Consolidation
🕰️ Timeframe: 1W | 🔍 Pattern: Cup Formation + Bullish Flag | 🚀 Long-Term Breakout Potential
📈 Technical Breakdown:
DIVISLAB has formed a massive Cup pattern on the weekly timeframe and is currently consolidating inside a Bullish Flag after hitting the neckline breakout. This is a classic continuation setup following a long accumulation.
Post breakout, the price tested the upper region and is now preparing for a potential next leg toward Fibonacci extension levels.
🔑 Key Support & Resistance Levels:
🔵 Resistance / Upside Targets:
₹6,485.00 (Cup breakout top)
₹8,829.30 (Fib extension 161.8%) 🟦
🔴 Support Zones:
₹5,290.20 – Local horizontal support
₹5,035.95 – Fib 61.8% retracement (strong support)
₹4,588.30 – Fib 50%
₹4,140.70 – Fib 38.2%
₹2,691.65 – Long-term base (0% Fib)
🧭 Strategic View:
🟢 Bias: Bullish
🔁 Retest Zone: ₹5,290–₹5,035 can be re-entry zones
🎯 Target Zones: ₹6,485 followed by ₹8,829 for positional long
🛑 Invalidation: Below ₹5,000 zone
⚠️ Disclaimer: This is an educational chart setup and not trading advice. Please conduct your own research and risk management.
📣 Follow @PriceAction_Pulse for more such clean breakouts and chart pattern analysis!
🔁 Drop a comment if DIVISLAB is on your radar for the next breakout rally 📈
Shocked by Nifty50's sharp correction? Don't worry!Today NIFTY has crashed by 350+ points and reached 23165, a correction from 23800 levels .
Let me explain, This Nifty Daily chart is a classic example of how many fundamentals of Technical Analysis are satisfied.
1) Old resistances in 2024 at 22800 will now become Support levels
2) If it goes to 23000 and stops at 22800 levels it also fulfils the Wave 4 criteria, which says that Wave 4 never gets in Wave 1 territory
3) If this happens, the chart also completes an Inverse Head and Shoulder's Right Shoulder bottom to make an up-move towards the Neck.
4) if it crosses the Neck, the targets of Nifty will be above 25500, which will be 2500+points.
Technicals are beautiful only when you practice them.
USD/INR - Where the rupee is heading, Will it reach the 90s?FX_IDC:USDINR
Looking at the daily chart of USD/INR we can see a breakout at 86.68 level. And now there is a retracement from 87.95 levels. The question is whether it will make a new high or not, should we remain bullish on USD?
Let's refer the history to find a high probability answer.
From Oct'18 prices consolidation for 1.5 years. During this period there was cup and handle (C&H) formation followed by a breakout in Feb-20 @72.5 INR.
Note that the base of the handle was at 70.55 INR.
The momentum continued till 77 Rs in Apr-20.
If we draw a fibo extension from 70.55 to 77 (Δ 6.45), and apply it from the next C&H breakout at 77 Rs in May-22. The upmove followed this breakout made a high @ 83.285Rs. which is approx equal to (B/o pt + Δ) = (77+6.45 = 83.45).
Now Lets apply this concept to find the high of current bull run.
Let draw Fibo extension from base of the handle to top of the the entire run i.e from 75.288 to 83.285 (Δ ≈ 8)
And apply it from the B/o of C&H pattern @83.41 Rs.
So the next targets are {(B/o pt + Δ) = (83.41+8 = 91.41)} or {(B/o pt + 1.618*Δ) = (83.41+1.618*8 = 96.35)}
Nifty50 - November 2024 viewIn my October view, I had mentioned that it is time to be cautious as Nifty was near an important zone of 26240-26270 and we have seen more than 2000 points fall since then.
FIIs have sold more than 1.3 lakh crore of equity in last 40 days.
Let's analyze what can be expected in this month. We have seen nearly 10% correction from ATH in Nifty50. 23900 is acting as a support currently which is also its 78.6 % fib extension.
On the downside:-
Below 23900, I am expecting at least 23300 which is near the trendline support.
On the upside:-
24300, 24800 & 25000 would act as a strong resistance.
Current view is sideways to bearish till 25000 is breached on weekly closing basis
Till then, market will remain on sell at high.
Nifty 50 - Portfolio Colour similar to color of Christmas?Year endings have historically been famous for a big correction and 2024 is no different.
As I had mentioned in my previous idea, 23900, 23300 are crucial support to Nifty and 24300, 24800 are strong resistances
We had seen a good bounce from 23300 to 24780 and then a good fall once 24300 was broken again.
23200-23300 will be a key level to understand next trend for Nifty.
As we can see, there is a confluence of trendlines and demand zone around 23200.
If we see a bear trap forming at this zone, one can expect 25000+ levels in January 2025.
But if 23200 is broken, bloodbath may continue till budget with next key support zones being 22700, 22000, 21500.
Market is going to be volatile as we are going to see a change in lot size of Nifty 50 from new year.
It is better to be sector specific for swing trading.
ZOMATO A CHANNEL CONSOLIDATION WILL IT BREAKOUT OR FIZZLE OUT ?Zomato Ltd. is an interesting chart in momentum with following
1. RSI on all time frames (D/W/M) above 60
2. Narrowing Bollinger Bands on daily chart with price walking near Upper Band
3. Four months long consolidation in range of 240 to 295 zone
4. ABCD pattern under formation on weekly chart
5. Major Price Supports as under:
20 SMA (daily ) 263
50 EMA (daily ) 264
20 SMA (weekly) 261
with cluster of supports in range of 260-264 can be a good risk reward trade. Fibonacci projection tool projects targets of 333 and 358 Lets see if it sustains the trend or fizzles out
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
Low risk buying in RELIANCEA low-risk high probability buying setup is forming in RELIANCE.
Price is taking support at the cluster of 38.2% retracement, 100% extension of Flat correction, and trendline in red.
If the price enters and sustains in the blue channel, showing bullish pressure, it will provide a good buying opportunity with a stop loss below the recent low.