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Fibonacci Retracement

Trade Idea on Ambuja Cement with Price action notes In the above chart, the price action goes like this. 1) 50-60% Fibo retracement zone - Stock after a substantial fall getting lots and lots of demand from this zone 2) Its fibo retracement - Used from a swing low to swing High 3) Its called a counter trendline - stock currently getting demand on the extended CT, as a result of breakout and bigger time frame retest 4) It's called a trendline, made from a swing low point to another swing low, extended forward, giving a demand zone 5) Its called a Confluence zone, Candlestick pattern is bullish pressure, lower wick multiple rejection on W time frame and cluster of many other demand areas 6) 3 Yellow lines are potential Target zones from CMP.
NSE:AMBUJACEMLong
by Averoy_Apoorv_Analysis
6
RHI - Invertered Head and ShoulderRHI Magnesita is in uptrend forming Higher High and Higher Low in longer time frame. Price has revered from important and Golden Ratio of Fibonacci - 50 and 61.8. In shorter time frame it formed Inverted Head and shoulder chart pattern which indicate that price will continue their uptrend in shorter to mid term trend. If price pierce the neckline above 645 then one can initiate a long position with SL 637 and Target of 740, 820 and 900.
NSE:RHIMLong
by Arvind_Share_Academy
BIOCON OVERSOLD (FIBO TIME ZONE ANALYSIS )Biocon Ltd looks fundamentally very disappointing but there are few patterns on charts that makes it technically interesting at this point of time. Betting for an upside with a calculated risk doesn't seem as a bad option for now. BIOCON ON CHARTS: - Biocon has formed a Bullish Wolfe Wave. - After 10 Weeks the Weekly closing has been above prior candle's close. -The bullish pattern has been formed at a very important Fibonacci Retracement level of 89%. - RSI is at Oversold zone and at Reversal Zone. - Negative DI index stands at 31, it generally indicates a oversold trend and a trend reversal in Biocon. Because -ve DI in Biocon never crosses 35. - Directional Index stands at 38. Generally 40-50 Level is a trend reversal indication. - According to Fibo time zone analysis, Biocon is nearing 5.55 Time level. It is a trend reversal level. A good up move above 260 can lead the stock to 320 Level. SL seems to be at below 220. CHART & ANALYSIS ADARSH DEY
NSE:BIOCONLong
by AdarshDey
7
Concept of Soft,Hard Landing feat Adani Enterprises 1 ) Monthly Time frame story: This story tells us about the fibo retracement - From the start of the journey of its price action till date, it has given a solid return - Retracement was always pending in this stock. There can be two types - soft and hard landing type retracement 2) Stock has retraced almost 50-60% of its total lifetime move - Only Issue is Daily time hard landing retracement Soft Landing - Stock moving with a zig-zag type formation, that is, making lower lows with lower highs, taking time to reach 50-60% retracement levels, is what we call a soft landing in this contraction cycle of stocks. Hard Landing - Stock falling directly with big 20-30% falling bars in a single day and continuing this next day with increasing volumes tells the story of a hard landing, meaning no new positions are made in between, and only selling side pressure increases without any backing from bulls at all. 3) Execution: The plan here can be that after Hard landing like in the case of Adani stocks, we need to be patient and mark important levels - Here I have made on the daily time frame 2 patterns - Triangle and W bottom, many other fomrations can be there ( it should be a bullish pattern at this stage, that's all ) A breakout of out it can be played with a small investment amount ( This is not an advice, so consult your fin advisor or take decision on your own trading style ) Good luck
NSE:ADANIENTLong
by Averoy_Apoorv_Analysis