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Fibonacci Extension

Nifty - near ATH, what's next?NSE:NIFTY reached near its All Time High 19000, peoples are talking about big fall but here the view seems different to me, As per my Elliott wave study and my counting on it which can differ with every EWT user above is my shared view, please look carefully & have a happy trading here are some points to take in consideration. 1] Price is still in channel. also there is reverse breakout from wedge. 2] Wave 4 correction was not clear until the breakout happened. 3] VIX is near 11. So, volatility would still be low with following its trend. 4] RSI - Daily, weekly, monthly is still bullish no sign of weakness. 5] Daily candle high near upper bollinger band. 6] Daily, Weekly supertrend in green indicating more bullishness 7] no weakness in banking stocks which has highest weightage in nifty.
NSE:NIFTYLong
by Ajay7871
Elliott wave counts of USOIL and Fibonacci levels (up, down, up)Hello Friends, here we had shared possible Elliott wave counts of USOIL CRUDEOIL chart on hourly time frame, which is suggesting we are currently in impulse wave of some degree, in which we had completed (i)-(ii)-(iii)-(iv) and now possibly we are unfolding wave (v) of bigger degree wave 1, in this scenario we had seen that wave (iii) has been extended and clearly showing subdivisions inside it and also shown gap up as its nature, so we can assume that wave (v) can go up to equality of wave (i) which is showing price level of near $ 86.75, post completion of it, we can start retracement as a wave 2 in a-b-c pattern, that correction could get support at that same gap which we got gap up in wave (iii) so it can provide good support and as per Fibonacci measurements 50% retracement of entire rally also meets that same level of gap support which is pegged at $ 75.50, which can make that support more stronger. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Overall crude oil is looking bullish right now then little down to unfold wave 2 and then again up to unfold wave 3. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
TVC:USOIL
by RK_Chaarts
Trade Idea on SRF with Bird Eye View and Notes Following is the bird-eye view of SRF point-wise: 1 and 2) I see two patterns here on a Weekly time frame; 1 is a parallel channel, and 2 is a symmetrical triangle ( Note: Both can be bullish or bearish patterns depending on their previous more significant wave, here it was bullish ) ( Note 2: Currently sitting at the support of bottom parallel channel making a W pattern and sitting at bottom support of symmetrical pattern too ) 3) It's a Fibonacci extension, made for the consolidation zone - High and Low, For Futures higher Targets. 4) Steep CT: It's a steep counter-trendline breakout, giving us the probability of future upside potential 5 is the probable weekly time frame SL and 6a is probable Weekly time frame basis and pattern top basis Target 1, 6b and 6c are fibo ext target as taken from point 3
NSE:SRFLong
by Averoy_Apoorv_Analysis
NIFTY (TIME & LUNAR CYCLE)The very word “lunacy” dates back to the 15th century when it was believed the moon and its phases could make people become more or less aggressive, depending on its place in the lunar cycle Several studies found a connection between full and new Moons and stock market performance. Generally, stocks tend to perform better in the days around the New Moon, while price weakness is more frequently seen in the days around Full Moon. It was also observed that major market crashes have a history of happening about 3 days before a New Moon. We will try to understand the significance of cyclical movements in Nifty its theory and few previously applied practical executions (that gave precise accuracy) and at last try to predict NIFTY for the upcoming time using the same. Let’s try to put the very same concept of Lunar Cycles and Time cycles in Nifty and draw a conclusion of the possible scenario that could happen in future after drawing a pattern from the past. LUNAR CYCLES IN NIFTY: Every downside rally starts or intensifies with Full Moon Day. If we look at downside rally starting 19th OCT 2021, it started just a day before full moon day and market fell by almost 12%. - On downside rally starting 18th JAN 2022, which started just a day after full moon day and market fell by almost 14.60%. - On downside rally starting 5th APR 2022, which started just few days before full moon day and market fell by almost 16%. - On downside rally starting 15th SEPT 2022, which started just few days after full moon day and market fell by almost 7.5%. - On downside rally starting 2th DEC 2022, which started just few days after full moon day and market fell by almost 5.87% Just Lunar Cycle alone is not enough as these are also confirmed by 55 Days Reversal cycle. This ongoing reversal was well informed before it was initiated .Please check this analysis (dated 2nd Dec 2022) to find the same: The current high was predicted based on Fibonacci Retracement (dated 29th OCT 2022, Target done on 1st DEC 2022) If we look at the past we can see that the process of Low formation takes a time of about 99-101 days approximately, which means in every 99 to 101 days a low is formed where after Nifty rallies upside by a whopping 10% minimum. One more interesting pattern that can be seen is after a low is formed Nifty forms the high in 3 * x number of days, such as 27 days , 87 days or 63 days ( Anything that is a multiple of 3), the remaining days when subtracted from 100, are the days it takes to form the low. It has been plotted with date range in the chart itself. This is how we should try to find a time cycle pattern .But anyways as we have predicted the high with a price and time confirmation successfully, we should be focusing on finding the bottom of NIFTY where we can get a buy opportunity. If we do the Mathematics behind the low formation and high low formation then we will come to a hypothetical result that an initiation of upside in NIFTY may be seen just before or after 6th JAN. Because the previous low formation date was 29th Sept 2022 and 100 days from it is 6th JAN 2022. Expected NIFTY downside levels are mentioned in the chart itself. OR ELSE THE CALCULATION MAY BE COMPUTED IN THIS WAY: The previous low was formed was in 29th Sept 2022 and market rallied upside for approximately 63 days and remaining is 37 days to complete the 99-101 days Low formation cycle. So probably NIFTY may finish the correction near to 6th JAN 2022. This is just an example that how time cycles are needed to be identified by a trader as it is not visible easily. Moreover in predictive analysis the probability of any error is high. So one possibility we can’t ignore is that market may bottom out before the mentioned date but I strongly feel the aggressive upside may be seen only near to 6th JAN 2022. CHART & ANALYSIS ADARSH DEY
NSE:NIFTY
by AdarshDey
5
Uptrend Continues in MAS Good Day, Hello Traders, See how beautifully it is following Fibonacci Levels as the rounding bottom is completed Now the next targets lined up are 909/ 971 / 1048 / 1188 Time Frame: Daily Hold for 8 to 12 months. It also depends how market behaves, however the trend and the sentiment is bullish . Chart Self Explantory. Disclaimer : I am not SEBI registered analyst, this is for educational purposes. Please trade as per your risk and do consult with your financial advisor before taking any trading decisions.. If you really like the analysis , please do comments, LIKE and Follow me.
NSE:MASFINLong
by Piscean17th
Nifty Analysis: A Bullish Scenario 🚀Hi 👋 There are always two potentially predominant scenarios possible in the stock market – Bullish and Bearish. Most people involved in the stock market like to read and appreciate the positive side of the market, that is bullish. This is because they always ‘Buy’ and never sell. Neither they sell to ‘Short’ the market nor to take profit 😉 This idea is representing the bullish scenario of the market. I have used minimal tools – Support and Resistance; Fib Time Zones; Fib Extensions and a self-developed technique to weigh weaker and stronger sides (bulls & bears) of the market. Let is discuss them one by one 👇 🚀 Fib Time Zones Fib zones are helpful in analyzing market cycles but in my experience fib zones have always been a hit and miss experiment, as there is no concrete way in which fib zones can perfectly match the market cycles. Theoretically we match previous highs to project the next peek or we match previous lows to project the next trough in a market cycle. On this chart I matched the highs of Feb 2021 and Oct 2021 and found that it perfectly projected June 2022 low (marked by Fib zone 3). If this projection is correct and continues then there could be a high (I am saying ‘high’ because we are discussing bullish scenario) near Mid Feb 2023 (Marked as Fib zone 4). This may hold true as long as market trades and sustains above all-time highs. 🚀 Support and Resistance When I say all-time highs (ATH), it means 18600 (ish) levels. Normally these levels stand as strong resistance, because sellers get active taking profits or shorting near those levels. As of now those levels have not been tested by Nifty (spot). Secondly, there was 18100 level which acted as strong resistance in Apr 2022 and Sep 2022. However, the reaction in Sep was much less compared to the reaction in Apr, which is good for bulls. In Nov, market breakout of this resistance and also tested it once in the later half of Nov. The test was held, means buyers had an upper hand, and previous resistance (18100) acted as support. Eventually, market resumed the trend established from Jun 2022 lows. I would personally like to see the market break and sustain above ATH (18600 or so) for it to achieve our projected targets. 🚀 Fib Extension Fib extension is an effective tool to project markets next move or targets. There are different methods used by different traders or investors or mentioned by different authors in their writeups. Most popular ones being 1:1 extension, 1:2 extension and the ones that conform to the Elliot wave principles. Measured move: If I measure the move from Jun low to Sep high and project it for a 1:1 target, it gives us 19650 as the target. This can be taken as a medium-term bullish target for the market. Elliot: According to Elliot, 3rd wave can not be the smallest. If I take move from Jun to Sep 2022 as wave1 and late Sep correction as wave 2 then wave3 should be larger than wave1, that means beyond 19650. Wave3 extension can go up to (1.618 x wave1) or higher. If I take 1.618 extension then wave 3 targets for 21450 (quite ambitious though). We can take it as a longer-term target for investors. Cup & Handle Thirdly, if you look carefully there is a cup and handle continuation pattern. This can be made by joining Apr high, Jun low, Sep high and Sep low. The blue Support and Resistance line shown on the chart would be the neckline for this pattern (and is breached positively). The target for this pattern comes out to be = 18114 + 15183 = 21045. This gives us a zone from 21000 to 21500 as a target for long term investors. Will the market hit the long-term target on Mid-Feb 2023 Fib zone? Or will it hit the short-term target 19650 at that time? This question should remain open for discussion in the comment section. 🚀 (Bravo) Momentum Technique There is nothing much fancy in this technique than the Price and Time based analysis. I analyze price waves through the lens of time to measure momentum of the market. Technical charts are drawn by taking Time on X-axis and Price on Y-axis and this helps in tracking the price moves. I take help of these price moves in identifying bullish and bearish trends. As a general rule of thumb if the price is taking less time recovering a bearish move then there is bullish momentum. This means bulls are still stronger than bears. The opposite is also true. If price is taking more time to recover a corrective wave then bulls might soon lose ground. To make it simple, I have drawn red and green rectangles. The red rectangles encase bearish waves and the green ones encase bullish waves. There are two important things that you need to observe – height and width of the rectangles. Normally height of two adjacent rectangles (bearish and bullish recovery waves) would be the same. So, it the width that is more important. The width represents the number of days the market takes to complete a wave. As long as the width of green rectangles is less than red ones, the momentum would be bullish. Normally we see bullish momentum in an uptrend, so there are greater chances that the trend would stay on the upside. The opposite is true in case of downtrend. You can see in the chart that although the market was making lower lows from Oct2021 to Jun2022, the width of green rectangles is less compared to red ones. Or you can say that market had been taking lesser number of sessions to recover a down move. This means that bulls were more active and were interested in accumulation at the lower levels (see number of sessions/bars under each rectangle). This signals a positive momentum in an uptrend and hence higher chances of the trend to resume. This method is useful for investors as well as traders. Investors can apply it on higher timeframes and traders on a lower-timeframes, for analyzing, confirming and riding trends. I hope you learnt something new from this post. Now do me a favor and hit 🚀 so that I can push myself to write more. Your thoughts are welcomed in the comment section 👇 Have a great life 👍
NSE:NIFTYLong
by Bravetotrade
16
HBL Power : Perfect Example of Fibonacci Levels Good Day , Hello Traders, HBL Power is one of the best dark horse, Consolidates then moves. Fibonacci Levels are been respected perfectly as you can see the levels of 122 achieved and now it retraced a bit . Gearing up for the next level of 152. Good candidate for Long term perspective. Chart Self explanatory Time Frame : Daily Disclaimer : I am not SEBI registered analyst, this is for educational purposes. Please trade as per your risk and do consult with your financial advisor before taking any trading decisions.. If you really like the analysis , please do comments, LIKE and Follow me.
NSE:HBLENGINELong
by Piscean17th