The support of 0.68840 proves to be a tough nut for the bears.
After bouncing back sharply twice, the pair was under the cloud of a bearish trendline for 5 months, which has broken now.
Also, the pair found support at 61.8% of the previous rally, which is a strong bullish sign.
Hence, we expect the trade with bullish bias. The next levels to watch out for are the...
As you can clearly see in the chart, Brent is entering into the resistance area and also retraced 61.8 percent. it might fall from here after consolidating for some time. wait till it comes out from the area and short when it comes back to retest.
good Risk reward from here in the downside.
Not a financial advice.
Weekly Supertrend in the green = Long Term Trend Up
Daily William%R bouncing from oversold zone = Short Term Pullback Over
Stock taking support at Trendline and near 50% Fibonacci Level = Demand Zone
Bullish Engulfing Candlestick Pattern = Strong reversal sign
Buy with a stop at Rs.189.50 for a target of Rs.213 and above
Weekly Supertrend in the Green = Bullish
Daily William%R bouncing from oversold levels = Pullback done
Bouncing back from near 50% fibonacci levels = Bullish
Support taken at an old support and resistance area = Demand zone
More than 7 times the average volume = Bullish
Buy with a stop loss at Rs.59.50 for a target of Rs.70 and above
Weekly Supertrend in the green = bullish
Daily William%R coming back from oversold range = bullish
Stock bouncing back from near 50% retracement level = bullish
ADX above 30 = momentum
Buy with a stop at 569 for the target of 700 and above
Exactly Touched Fib-Level
On Daily Chart, Retracement of Last Fall
Nifty Retraced to 1.618 times Level 11444
& Closed below this Level
If fall here, we may see Profit booking from here till
If give Breakout above 11444
Next Level can be 11972
Disclaimer: Only For Study Purpose View.
WOCKPHARMA looks like reversing from its support zone
Long close above 429 for 449 and 469
or if it retraces towards 409-405 then long with SL 389 (CBS)
Please follow the Fib levels for more details and levels
looks like good entry for cash-positional
Pharma sector too looks positive
INDUSINDBANK is following the fib levels.
close above 1525 will take it to 1548 and then 1576
1490 is a good support level
Option Play- Long 1520 call and short 1560 call ( March Series)
RSI close above 58 is more positive
The stock is moving in parallel channel and it is likely to test fibonacci level 78.6% (Rs116.5) and then retrace to 61.8%
Aim for a target of
1. TGT 1 - 105.9 (fibonacci level - 61.8%)
2. TGT 2 - 102.3
SL - 120
Good risk reward ratio call based on Harmonics and Fibbo Retracement
Gave superb returns
Bought at 448
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NSE: PNB Housing Possible long for 1037+
Trading above 50% fibo level and acting as support
Possible long at current level with stop loss @ 824
Target insight 963 & 1034 + in short term
Break out above 1000 level will push prices rapidly higher
Break below 824 will bring more downside
Use stop loss and trail stop loss
Time frame 4 to 6 weeks