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Fibonacci Retracement

NIFTY OUTLOOK (DOWNSIDE BY 10TH TO 15TH MAY)After forming a Bullish Wolfe Wave, Nifty has been rallying fantastically. It has successfully given a break out of the 2-4 TL. And with ups and down I expect the rally to continue till 10 May to 15th May 2023. I am not sure about the price levels but the utmost high that is achievable by NIFTY seems to be 18605 (18605 has been derived by both Price action and Fibonacci Retracement) The reason is purely because of Time cycle. As I have posted earlier the exact downside reversal of Nifty starting 2nd December 2022, this current chart is just a follow up of the previous chart. Nifty follows a 55 Days Time cycle for downside reversal where it tops out and falls by minimum 5.5%. All the time cycles are plotted in “Red Vertical Lines” and the tops are enclosed in a “Rectangular Structure”. PREVIOUSLY DOWNSIDE SEEN IN 55 DAYS TIME CYCLE: 12TH JAN 2022 4TH APRIL 2022 13TH SEPT 2022 2ND DEC 2022 20TH FEB 2023 The next time cycle of 55 Days lies in between 10th -15th May 2023. I expect Nifty may start reversing downside in between the above mentioned dates. I am not sure about the price levels, it may be anywhere between above 18100 to 18605. Incase of any confirmation for the price, I will surely update the same in update idea section of this chart. Nifty may consolidate or give a 1% to 1.5% percent fall before the dates but I expect that it would be only to create a new high. The link to the previous study for the downside reversal starting 2nd December 2023 is given below: CHART & ANALYSIS Adarsh Dey
NSE:NIFTY
by AdarshDey
10
Fibonacci levels plot levels to watch out for around the $300 The $315 and $300 levels of resistance and support respectively have been important on the lower timeframes. Over the past 48 hours, BNB has declined from the local highs at $316.3 to trade at $308.5, at the time of writing. On the 6-hour chart, the RSI was unable to climb above neutral 50, showing the persistence of the bears. Over the past week, the trading volume was low as well. This came at a time when BNB retested the $300 level. With Bitcoin facing rejection from beneath the $27.8k resistance on Monday as well, it appeared likely that more losses were in store for the crypto market this week. If Binance Coin were to slip beneath the $295-$300 area, the Fibonacci extension levels highlighted some key areas to watch out for. The 50% and 61.8% extension levels would likely be tested upon a move beneath $295, with the 23.6% level at $289 also expected to serve as minor support. Meanwhile, a move above $316.3 would signify a break in the bearish market structure. Thereafter, buyers could begin to exert their will, but this was the less likely scenario.
by tradewith_ritik
nifty pull back complete?Nifty is on correction path on a uptrend for the last 2 trading sessions. from the last low of 16828 in march 23, the 1st phase of rally was till 17842 ( rally of about 1000 points) we saw a pull back there after till 17553 (about 300 points). if we plot fib retracement then this form about the 0.618 level of the rally. the next phase of rally was from 17553 to 18459( again about 1000 points). in the last 2 days the correction has happened till 18115 (about 320 points) this again is approx 0.618 of the last rally. further global indices are all in green at the time of writing this (DAX, FTSE, NYSE, DoJI), which gives a belief that correction is over and next phase of rally if commencing could take nifty to ATM of over 19000. Having said that any fall below 18030, could see Nifty going into a fall till 17830 and further fall if any will signal a trend revresal. This is my outlook for nifty in coming days and is not a trade recommendation. Please do you own analysis before taking any positions
NSE:NIFTY
by Trade_with_Raghu
1
Nifty 3 Wave Correction likely aheadNifty could have completed 5 wave impulse up at 18267. If this doesn't get broken then likely 3 wave drop towards 17550-400 zones possible. MACD negative divergence and open bearish gap suggest bearish trend to continue few days. 2nd Chart shows internal count of wave 5. It also shows 0 to 4 trendline about to be broken Next wave 2 of A will pullback Nifty up to 18190 in next 1-2 session From there 18055 break will pull down Nifty to 17700-800 zones to complete A wave. Then there will be B and C wave DISCLAIMER: There is no guarantee of profits or no exceptions from losses. The stock and its levels discussed are solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Seek help of your financial advisor before investing/trading. Investment Warnings: We would like to draw your attention to the following important investment warnings. -Investment is subject to market risks. -The value of shares and investments and the income derived from them can go down as well as up. -Investors may not get back the amount they invested - losing one's shirt is a real risk. -Past performance is not a guide to future performance. -I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:NIFTYShort
by Niftydirection
1D DELTACORP (DELTA CORP LTD) - Short Position1. Bearish Engulfing Candles formed at Support and Resistance Zone. 2. 61.8% Fibonacci Retracement is another confirmation on that S/R level. 3. EMA 365 is off on the Bearish Engulfing Pattern. 4. Entry should be carefully placed at mentioned area because strong S/R level is there but it will definitely break those level and reached it to another S/R zone. 5. Take Profit and Stop Loss level which is clearly mentioned in the chart window. Check that there. Thanks by Pupathi Sadagopan
NSE:DELTACORPShort
by Pupathi
Nifty 50 Visualizer is BEARISH!⚠️Attached: Nifty 50 Daily Chart as of 19th April 2023 In the above Nifty 50 Visualizer Chart, I want you to pay attention to 3 things: 1) Trend Lines 2) Fibonacci Retracement 3) RSI This is quite a Self Explanatory Chart but for those who don't get it, here are a few points for explanation: - Notice how Price has reacted around the Trend Lines and the Marked Arrows indicating the same - Price has stalled at 0.5 Fib Retracement of the Decline that started in December 2022 - Daily RSI has failed to surpass the 65 level, within the territory of a Bear Market Rally Based on the above weight of evidence, Price can potentially see a Decline back down to the Next Trend Line Support which also coincides with the Unfilled Gap Area
NSE:NIFTYShort
by T_Harth
Borosil renewable is an example of a textbook patternWeekly analysis of Bororenew stock can be analyzed as a beautiful representation of flag and pole pattern. The flag is a falling wedge pattern and currently is nearing the breakout zone which is also its 50% fib retracement level. The daily time frame chart of the stock is signaling a bullish breakout and the risk to reward is very attractive. Fundamentally, this stock is one of the best picks for renewable sector. You can study the chart and invest as per your own analysis.
NSE:BORORENEWLong
by chartistamey
SONACOMS - 90% RETURNS!!!BUY - SONACOMS CMP - Rs 422 Target - 1: Rs. 593 Target - 2: Rs. 806 . . Technical - 1) Bullish Cypher Harmonic Pattern. 2) The stock is at support. 3) Targets have been set using Fibonacci Retracement. . . Fundamentals - 1) Company has opened a new manufacturing plant in Pune. 2) 62.66% YoY growth in EPS. 3) FII holding has increased QoQ. 4) DII holding increased by 8.4% QoQ. 5) The high-value, the high-margin product portfolio is likely to help the company outperform the industry. . . Comment: This chart is for educational purposes only. . . Follow me for more!
NSE:SONACOMSLong
by nilakshgupta