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...
Asian Paints corrected to Fib Retracement level of 23.6% - from highs of 3600
Disclaimer: View for Educational purpose only, not to be taken as trading or investment advice.
As we can see on the daily time frame Adani enterprises at an important Fibonacci level which is 0.382 we can probably see a reversal from this point. we can enter into a short trade if trend line on the 15 min chart is break also we can achieve big target in this trade but with the proper segment selection and position sizing.
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...
This Is A Pure Technical Analysis Of hcltech
1)The Stock Has Taken An Amazing Support At Fibonacci Retracement Of 50% In Weekly And Daily Time Frame.
2) It Has Been Forming A Really Convincing Cup And Handle Pattern And Currently Trading Above Breakout Of The Pattern.
As We Can See In The 15 Minutes Time Frame Picture (please Check The Numbers Marked On The...
CRISIL seems to have completed the correction at least for a shorter term. Wave counting is clearly mentioned on the chart. I request you not to get confused with Wave 2 as it is lower than the initiation point of Wave 1 but visible in Candlestick Chart. As the correction of Wave 2 have been really sharp ie. It was completed in 8 Days with 609 Points of Up move,...
Few pointers from my analysis on CAPLIN POINT LABORATORIES:
1. The stock has consolidated in the Triangular pattern and currently near its major support.
2. The major support trendline is near 0.382 Fibonacci level, thus has done healthy retracemet.
3. The Horizontal support is broken on the downside, however on lower volumes.
Conclusion:
The current setup is...
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Possibility of breaking this low of 17785 and (b)reaching 17500 is more likely to clear out weak hands before Budget and expecting a sharp Short covering on Budget day But before that the downside is unpredictable. The yearly pivot is around 17000 which is also possible for next bull run till 19900 to 20000
Tata Steel is trying to break out of the long Consolidation (1.5Years+)
It did a breakdown on 23rd Decemeber but immediately reversed which suggests a furious move on the other side.
It was also the 61% Retracement of recent trend.
Important Levels:
For Long term Investors: It should not Close and sustain below Rs100. Trade below 100 opens up the areas of...
There are some reasons for shorting Nifty,
Reasons :-
23.6% Fibonacci rejection level,
Rising Wedge,
Multiple time tested support zone,
Rejection zone,
There is a High Probability of breaking support.
The correction in HIKAL LTD seems to be done, the wave counting has been mentioned in the chart. Currently the stock is trying to a time wise correction and has consolidated for a time being try to form a rounded bottom structure and taking support on a curve during the correction phase.
Interestingly HIKAL LTD has a trading cycle of forming a low in every 88...
I am a fan of Fibonacci retracement.
I have backtested 50% retracement like hundreds of times. Also in this BINANCE:FETUSDT trade price has retested support zone.
Entry 0.2050
Exit 0.2550
SL 0.1850
