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Fibonacci Retracement

NIFTY OUTLOOKThis is a 180 Min TF NIFTY chart. By the end of this post we would try to understand the short term trend and the trade setup for the next week. An update on daily basis will be given in the update idea section. - TIME CYCLE: If we study the time cycle starting at 17 June 2022. I have adjusted the cycles at certain TF for better adjustment. We can observe the low made at point 1 and the breakout lead to a good up move. And vice a versa was seen at point 2 and 3. Accordingly the low before a good bounce is expected to be made at Point 4 which is nearly around 13 or 14 th Oct. TRENDLINES: Even the trendline starting at 13th Sep 2022 (just before point 3 ) is currently acting as a resistance. FIBONACCI RETRACEMENT: 17081 will act as the first support incase of any gap down as currently indicated by SGX. The next support level would be 16900 if 17801 is taken out. Any buying signal if generated at these level near the time cycle(13 or 14 th Oct) should not be ignored given that they are confirmed by price action. And if such thing happen, I will update the same in this post. It's been a while I have updated my page with regular NIFTY OUTLOOK posts due to some reasons. However in the last NIFTY OUTLOOK, I mentioned the target of 18342. And even after initiating a bear rally , NIFTY bounced and achieved the target dot to dot before falling heavily. CHART & ANALYSIS ADARSH DEY
NSE:NIFTY
by AdarshDey
NIFTY: OCTOBER ANALYSISHi all 👋 this is my current take on Nifty. ✅Nifty failed to break out of the resistance line, which I have stretched from October 2021 highs, at two occasions, that is in August and September 2022. There was a breakout of the 18000 level but this break failed near April 2022 swing highs. Thereafter, Nifty had a vertical reaction in September. ✅This reaction has been holding near a prior key resistance area of 16800. As we always say that a prior strong resistance area once taken out may act as a support in future, it happened in this case. ✅For Fibonacci traders, 16800 is somewhere between 38% and 50% retracement of the sharp rally from June lows to September highs. So, 16800 is surely a key level to watch out for. It Nifty breaks and sustains below this level, it will be more bearish and I will be looking for 16000 or lower levels once again. As long as market is above 16800, an opportunistic approach might work. ✅The opportunistic approach would be to look for buying opportunities near support areas and sell opportunities near resistance areas. Let us see where are those levels. ✅If you look at the chart there are two other important levels (might be more visible on lower timeframes), that are 17160 and 17500. Nifty broke both the levels with massive force but it has managed to hold above 17160 once again. ✅As long as it is above 17160, I will be looking for 17500 or so. In between there is a gap area at 17327 which may also act as resistance. ✅If Nifty manages to get back to 17500, there might be a reaction because there are multiple resistances near that level. So, a move back to 17200 cannot be rules out. ✅The price action of the last two months is hinting that market could remain sideways in near future. As long as Nifty is above 16800, I expect Nifty to remain choppy and look for opportunities on lower timeframes. I would leave this analysis here and wait for further price action to make or mend my views. Thanks for reading.
NSE:NIFTY
by Bravetotrade
2
'SWING' your losses into profits with 'SWING' trading strategiesIn prior posts, we have covered some great teachings about the market and, in this post, we will elaborately cover the swing trading strategies. Let's start !! ->Definition of swing trading -: Swing trading is generally referred to as a trade carried out for a short time. Swing traders do not wait till the price action opposes their direction, they are known for their prior moves. They are good at identifying the shifts in market trends with the help of various techniques which are explained throughout this idea. Swing trading strategies include the use of Fibonacci, Bollinger Bands, Channel Trading, Moving Average, MACD crossover, and better understanding of chart patterns like Head & Shoulder, Flag, and Triangle Patterns. We will discuss chart patterns, later on, now let's focus on the indicator strategies. - >Swing trading strategies -: ->Fibonacci Retracement: The stock price tends to retrace, and swing traders use this retracement as an opportunity to enter a trend. The retracement levels could be identified using Fibonacci Retracement, all you need is to identify the prior trend and if the price retraces to the 0.618 level and again resumes the trend jump on it and ride the position till it reaches 0.236 level. ->Bollinger Bands : Most probably, the stock price tries to move in the Bollinger band, which is used by swing traders to initiate and terminate their position. Firstly you need to identify the major trend, let's suppose it's bearish than when the price reaches the upper bound and there is a formation of a bearish candle you could initiate a short position also when a bearish candle is formed at the median, there also you can initiate a short position. ->Channel Trading: Sometimes, stock price trades in a channel now this channel is used by swing traders i.e. when the trend is bullish they try to take long position at the lower range of channel and book partial profits on median and wait for the price to reach the upper end. ->Moving Average: Here traders identify the major trend and take position according to it, with help of crossovers they generally prefer 10DEMA crosses 20DEMA. ->MACD : This is a simple strategy where the trades are initiated when there is MACD crossover but the cross should correlate with the trend. My Observation-: These strategies could be more accurate if used to trade with the trend, i.e. if the stock is in an uptrend only take positions for a positive signal and just avoid negative signals. Another basic strategy is to take a position when a script moves above the swing high or below the swing low, here the only thing to ponder is to manage your risk. Don't take over positions understand your risk appetite then take positions.
NSE:NIFTYEducation
by Chaser30
20
Granules long opportunityNSE:GRANULES Stock -> Granules TimeFrame -> Weekly Hello all! Granules has been forming a flag and pole pattern. It finally broke out of the flag in the last week of September with heavy volumes and I believe this generates a good opportunity to go long! There are multiple other factors that strengthen my conviction on going long -The stock is taking support from its 50-week EMA -Stock has support from both 50 and 200-day EMA -Flag breakout occurred after a strong bounceback from the Fibonacci golden zone. The Risk to Reward ratio is also decent. *NOT A CALL* Disclaimer: Markets have been behaving a bit jittery. Hence it's advisable to trade with a smaller quantity than usual and maintain a strict stop loss. #granules #nifty #technicalanalysis #swingtrading #ema #fibonacci #poleandflag #markets #trading #investing
NSE:GRANULESLong
by Traders_Town
Ambuja Cement giving a break down of Head and Shoulder.The stock has given a nice break down of the Head and shoulder pattern. The markets are in the negative and the stock has given 40% (approx) returns in 30-35 days time. Stock has broken the neck line of the of the pattern and closed below it. The stock has closed below its 50% Fibonnaci levels. Wait for the stock to retest the price level of the neck line and watch for the price action near the levels for shorting the stock. The targets and Stop loss are mentioned in the chart. An intraday and swing trade can be initiated in the stock. Wait and watch the candlestick pattern for carrying on the trade.
NSE:AMBUJACEM
by TheMamboMomentum
1
You Might Have Heard A Lot About This Hey Everyone, Today we are again with a lot of information and a bunch of topics, so consider following us for regular ideas and market updates Let's go Strictly into the idea So What is a Fib Retracement ? Now You might think it is just making lines and deciding on support or resistance but it's way too far, as shown in the thumbnail " The Major Levels " it means the levels that can be a support or resistance and can be found easily as shown. So Now we have learned What is Fibonacci Retracement, Now Let's Know How to use It ? To use fib retracememts we need to first find a low and a high level and then set 1.000 and 0 and then just seek at The Major Levels to Trade. This was just an overview if you want a more detailed idea in which we will discuss Fibonacci Extensions , Fibonacci Number and Lines tell me in the comments and i will do for sure Thanks Bye - Bye
NSE:NIFTYEducation
by UKnowN_ThE
2
Multidimensional Nifty Analysis !!!Due to the strong bearish candle on Friday's session, the Nifty has formed a bearish engulfing candle on weekly charts which indicates exhaustion of the uptrend. Is this so? let's take a multidimensional view Nifty has passed below 20DEMA above which it was taking support in last few days which is a sign of weakness and a signal of strength exhaustion. Nifty has also formed a double top along with RSI divergence which further is a bearish signal though the pattern isn't confirmed as a breakdown comes below 17300 but the divergence is not a good sign. A pitchfork is drawn from the beginning of the up trend and you can see Nifty respecting the pitchfork. Now it's on the support of pitchfork and there is the max probability that we can witness bounce from here. Also, the Nifty has reached very close to the Fibonacci retracement level of 0.236 i.e. 17407, and along with this there is strong support for the 17500-17400 range. From the above observation, we can conclude that trend exhaustion will be below 17400 and below 17300 we can begin a downtrend. Now, to resume the up trend Nifty has to cross above 17650 i.e. 20DEMA.
NSE:NIFTY
by Chaser30