GOCOLORS - Getting ReadyGOCOLORS is getting ready and has been testing the resistance level.
- It is consistently trading above the 20 EMA. Recent high-volume candles suggest clear institutional participation. Although volume is currently drying up, the price is sustaining — a positive sign.
- The stock reversed after touching the 0.5 Fibonacci retracement level, indicating strength.
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Fibonacci Retracement
ONWARD TECHNOLOGIES LTD📊 ONWARD TECHNOLOGIES LTD (1D) – CMP ₹313.00
📅 Published on: May 17, 2025
📈 Exchange: NSE
📌 Ticker: ONWARDTEC
🔍 Technical Chart Analysis
✅ Trendline Breakout:
A clean downtrend line breakout is visible on the daily chart, marking the end of a prolonged bearish phase. Price has decisively broken above the falling resistance trendline with a sharp bullish candle and strong volume confirmation.
✅ Volume Surge:
Breakout occurred with a 17.76% gain and significantly higher volume (1.23M), hinting at strong buying interest and possible institutional accumulation.
✅ Fibonacci Retracement Zones (from swing high ₹731.00 to low ₹207.30):
38.2% – ₹407.40
50.0% – ₹469.20
61.8% – ₹531.00
78.6% – ₹618.95
100% – ₹731.00
✅ Support Confirmation:
The price held the multi-year support zone around ₹207.97, which aligns with the 0.00% Fibo level, forming a strong base for reversal.
🧱 Key Support & Resistance Levels
🟩 Support Zones:
₹207.97 (Major long-term support)
₹265–270 (Breakout retest zone if pullback happens)
🟥 Resistance Zones (Fibonacci-based):
₹407.40 (38.2% FIB)
₹469.20 (50.0% FIB)
₹531.00 (61.8% FIB - Golden Ratio)
₹618.95
₹731.00 (Previous ATH)
📉 Timeframe: Daily (1D)
📈 Sentiment: Turning Bullish
💡 Conclusion:
After a long correction, ONWARDTEC has shown a breakout with strong volume from a downtrend line. Holding above ₹300 levels can open room for targets near ₹407–₹469 and beyond. A good setup for swing traders looking for reversal entries.
📌 Disclaimer:
This analysis is for educational and informational purposes only. Not financial advice. Please consult your advisor before making investment decisions.
PREMEXPLN - Cup & Handle Breakout | Volume Surge📊 PREMEXPLN – Cup & Handle Breakout | Volume Surge + Key Fibonacci Confluence!
🕰️ Timeframe: 1D | 📐 Pattern: Cup & Handle | 📊 Momentum: Bullish
📈 Technical Chart Overview:
Premier Explosives has executed a clean breakout above a long-term descending trendline and a cup & handle base with a massive spike in volume, hinting at a powerful trend reversal.
Price surged nearly +19% intraday, confirming strength near the 61.8% Fibonacci retracement from the previous swing high at ₹910.30 to the swing low at ₹253.40.
🔍 Chart Highlights:
☕ Cup & Handle Pattern: Formed over several months, signaling accumulation and breakout
📐 Descending Trendline: Broken with strength and volume confirmation
📊 Volume Spike: Volume highest since April 2024 – strong buyer interest
🟢 Breakout Zone: ₹472.65–₹480.00 (key previous resistance)
🔴 RSI (14): At 67.72 – approaching overbought zone, suggesting strong momentum
🧱 Support & Resistance Levels:
Level Type Price (₹)
🔼 Resistance 1 504.10 (Fib 61.8%)
🔼 Resistance 2 581.10 (Fib 50%)
🔼 Resistance 3 659.90 (Fib 38.2%)
🔻 Support 1 440.00 (Breakout Retest Zone)
🔻 Support 2 308.75 (Horizontal demand zone)
🔻 Support 3 253.40 (100% Fib low)
🔧 Indicators Used:
Fibonacci Retracement – Plotted from ₹910.30 to ₹253.40
RSI (14) – Showing bullish divergence and breaking out of consolidation
Volume Bars – Confirming breakout with institutional strength
Bull/Bear Icons – Track momentum shifts visually over RSI
🧭 Trade Outlook:
✅ Bias: Bullish
🛒 Entry Zone: Retest near ₹472.65–₹480 (ideal pullback entry)
🎯 Targets: ₹504 → ₹581 → ₹660+
❌ Invalidation: Close below ₹440 with volume
💬 Summary:
PREMEXPLN looks strong on the daily chart after breaking a classic cup & handle pattern with volume confirmation. The breakout aligns perfectly with Fibonacci retracement zones, suggesting room for continued upside. Monitor for a potential retest entry.
⚠️ Disclaimer: This is a technical analysis chart for educational purposes only. Do your own research and consult a financial advisor before trading.
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NAZARA - Breakout from Long-Term Falling Wedge📊 NAZARA – Breakout from Long-Term Falling Wedge | Strong Weekly Momentum
🕰️ Timeframe: Weekly | 💥 Pattern: Falling Wedge Breakout | 🔥 Sentiment: Bullish
📈 Chart Overview:
Nazara Technologies has broken out of a multi-year falling wedge on the weekly chart, with a strong green candle above key EMAs and Fibonacci confluence zones. Price closed the week above ₹1,100, indicating a shift in long-term momentum and a potential start of a fresh uptrend.
🔍 Technical Highlights:
📉 Falling Wedge Pattern: Multi-year consolidation now broken on strong volume
💥 Breakout Candle: Price closed above trendline resistance and key Fibonacci 50% level
🧠 Volume Surge: Volume confirmation signals institutional interest
📊 EMA Confluence: Price trading above 20/50/100/200 EMAs – bullish alignment
🧱 Support & Resistance Levels:
Level Type Price (₹)
🔼 Resistance 1 1,219.25 (Fib 61.8%)
🔼 Resistance 2 1,678.00 (Previous ATH / Fib 100%)
🔻 Support 1 1,077.55 (Fib 50% – breakout zone)
🔻 Support 2 935.85 (Fib 38.2% + EMA cluster)
🔻 Support 3 820–860 (multi-touch horizontal support & EMA 200)
🔧 Indicators Used:
Fibonacci Retracement – Plotted from swing low ₹477.10 to high ₹1,678.00
EMA 20/50/100/200 – Price is now above all EMAs, showing trend shift
Volume Bars – Confirming strong breakout
Chart Pattern – Falling wedge (typically bullish)
📌 Chart Sentiment & Setup:
✅ Bias: Strongly Bullish
📍 Breakout Level: ₹1,077
🎯 Upside Targets: ₹1,219 → ₹1,320 → ₹1,678
❌ Invalidation: Sustained close below ₹935 with volume
📢 Summary:
Nazara is showing signs of a structural breakout after prolonged downtrend and consolidation. The falling wedge breakout, confirmed by volume and EMA crossover, sets up a long-term bullish outlook. A retest of the ₹1,075–₹1,100 zone could offer a high-probability entry.
🧠 Pro Tip: Wait for a weekly candle close and minor pullback to the breakout level before entry.
⚠️ Disclaimer: This is a technical analysis post meant for educational purposes only. Please do your own research or consult a financial advisor before investing.
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MARICO - Breakout & Retest Setup!Overview & Observation:
1. 70% Fib support zone.
2. Good volume support
3. Breakout & Retest done.
Trade Plan:
1. Eyeing 20% upside with 10% SL
2. RRR is okay, not great!
- Stay tuned for further insights, updates and trade safely!
- 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
Zomato is showing weakness it may test 170 soon.Zomato is weak on monthly and weakly chart. It forms Fake breakout with double top pattern on monthly chart.
As per chart showing weakness on daily chart also as RSI drag below 40. It can short on any rise or here for target 170 soon.
Triveni Turbine - Chart of the Week NSE:TRITURBINE has a beautiful structure on the Weekly Timeframe to Qualify for my Chart of the Week idea, it saw Decent Volumes around the marked Key Levels which is 0.786% Fib Retracement Levels and also a Rising trendline which has been defending since June 2022 Several Times.
About:
NSE:TRITURBINE primarily manufactures and supplies power-generating equipment and solutions. It was a division of NSE:TRIVENI since the 1970s and was demerged w.e.f from Oct 2010 into a separate entity.
Trade Setup:
Could be a good Positional Trade with the Rising Trendline Being a Major Support along with FIb Levels.
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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
GSK Pharma - Chart of the MonthNSE:GLAXO has a beautiful structure on the Monthly Timeframe to Qualify for my Chart of the Month idea, it saw Heavy Volumes around the marked Key Levels which broke out and retested went to ATM and Again Retested and Bounced from that Place With Volumes in Last Month.
Also if we Use Fibonacci retracement it bounced from Crucial 0.618 Levels.
About:
NSE:GLAXO researches, manufactures and makes available a broad range of medicines and vaccines that benefit people, It's a Leading Global healthcare company part of GlaxoSmithKline plc (GSK), a British multinational pharmaceutical company headquartered in London.
Trade Setup:
Could be a good Positional Trade with those Key Levels as Major Support and AIM for New ATH.
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✍️COMMENT Below your views.
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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Godrej Properties good to go long
Godrej Properties On Double Bottom + 61.8 Fibo ratio + RSI Diversion (clearly Show on 4 hrs & Daily)
Good to Go long for Positional buy.
Infra Sector is on good move in last 2years - this stock also correct perfectly
i thing this stock will give good returns in Next few months.
NIFTY Breaking 2020 Trendline with Monthly Big Bear CandleNifty Breakdown 2020 Trendline on Monthly Chart with Big Bear Candle - (Currently Now its show almost Full Bear power Candle near at 10:30am)
If You See the Monthly RSI Is also going to break almost Five years Low 53.30
3rd thing if you comapre RSI low 2016-2020 breakdown its Go more 39% Down in just 2 months.
Chart & Indicator both Saw Very bad Sentiments & Pattern on chart.
my prediction as below as per fibo chart shown in chart
Target as per Fibolevel
T1- 21848.50 (23.8%)
T2- 19108.65 (38.3%)
T3- 16894.25 (50%)
T4- 14679.80(61.8%)
Target as per Chart (Zones)
T1 Zone- 22081- 21588
T2 Zone- 18912-18515.50
T3 Zone- 15645-15177
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
Nifty still going Down? Application of Elliott waves and FiboNSE:NIFTY has corrected by 3500 pts (13.3%) from its high of 26,277 in Sep’24.
In post COVID era this is the 2nd biggest correction in terms of % and biggest in points.
Let us use Elliot wave theory and the Fibonacci retracement tool
Wave Time Start to End Points (percentage from top)
Wave (X) ( (i) to (ii) ) Oct-21 to Jun-22 18,604 to 15,183 3,421 pts (18.4%)
Wave Y ( iii to iv ) Sep-24 to Feb-25 26,277 to 22,986 3,290 pts (13.28%)
Wave Z ( I to ii ) Dec-22 to Mar-23 18,887 to 16,828 2,059 pts (10.79%)
Wave (X) ≈ Wave Y || 3421 ≈ 3290 (Δ4%)
Wave Y ≈ 168% * Wave Z || 3290 ≈ 161.8%*2059 (i.e. 3331) (Δ1%)
*In stock market waves will hardly be exactly equal, 5% of deviation is acceptable to me.
While Wave Y & Z are of same degree, wave (X) is of higher than these two.
#SAIL#SAIL has corrected about 40% from recent swing high and currently trading near 61.8% retracement zone + weekly 200 ema and parallel channel support confluence zone. On weekly tf, it is probably trying to make a double bottom.
Historidally, when it gave a breakdown below weekly 200 ema and unable to sustain above it, it continued to underperform for almost 8-10 years but now it is probably trying to take support around it.
Also, RSI is making HLs off late, which is probably a good sign.
In terms of R:R, this is currently a good bet on long side.
As usual, DYOR and this isn't a Buy or Sell reco - but just an educational purpose post
NIFTY: New high or new low ahead?It looks like NIFTY is in wave 4 currently.
If this counting is correct, price should not break below wave 2 (23222 level). Because according to rule, wave 4 will never be parallel or below wave 2.
It means price will eventually go in wave 5.
Now, as per this counting wave 3 is shorter than wave 1.
And rule says wave 3 is never the shortest wave.
It means wave 5 will be shorter than wave 3 here.
We may assume target of wave 5 as 24034.
But if price falls below wave 2, this counting becomes invalid.
And price may go in new low.
Buying opportunity in PRESTIGE ESTATE LTDPRESTIGE ESTATE LTD is in Double Correction.
The maximum target for wave (Y) of double correction is 161.8% extension.
We can see that price is near 161.8% so here we can buy this stock with stoploss below 1185.
The target will be minimum 38.2% retracement of entire move i.e. 1528
This analysis is based on Elliott Wave theory and Fibonacci.
This analysis is for educational purpose only.
Breakout Potential After Trendline BreakA possible breakout is expected once the price breaks through a key trendline. This strategy focuses on identifying significant trendlines formed by price highs or lows. When the price breaches this trendline, it could signal a change in market direction, indicating a potential breakout. Traders should monitor volume and other indicators to confirm the breakout's strength before taking action.
Corrective rise in Reliance The current upmove in Reliance is corrective.
The recent low was made near the 111% level, which is considered the wave B level of Flat Correction.
The price is in wave C currently.
If anyone is interested in buying Reliance, there is a buying opportunity in the blue box. The stop loss will be below wave B.
The targets are open as:
Minimum 61.8% (the price is near this level)
Rule of equality 100%
Extended golden ratio 161.8%
This analysis is based on Elliott Wave theory and Fibonacci.
This is not buying recommendations.
Always do your research before taking any action.
For educational purposes only.
Axis Bank Increased Volume and Strong support Axis Bank Seems to stay Strong at the Current level of 1070 for the past 5 Sessions , which seems to be intercepting point for Pivot, Fibonocchi and Trendline Support , Short term move upto 1150 can be expected on Stable market Condition . Repositioning Pivot around 1120 for upcoming Week may make it possible .
Setup : NSE:AXISBANK
Buy Near 1070
Book Near 1150
SL below 1030