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Fibonacci Retracement

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
Nifty Yet to Finish Correction?Marked are waves from Covid low towards top as 5 wave impulse structure. Price from Covid low crossed 0.236 by good margin so next is 0.382 Fibonacci near 14300 While making low of 15183 price got thrown below channel the balance has set when price made high 17992 and was thrown above channel. Wave II of larger degree is currently in progress from 18605 and it is mostly likely is unfolding as more complex correction. If its really is wave 2 then it usually retrace towards previous wave 4 which is near 14300!! The more non-violent case can be small low near 15183 may be 15000 :) Nifty failed to break swing 18115 and dropped sharp from 17992 in straight line and pulled back slowly upto 17726 refer 1 hr chart for dominant trend. Confirmation 1: Break below 17345 Swing Confirmation 2: Fall crosses 1.618 Fibonacci If crosses 1.618 levels in above chart then it can be considered larger fall in progress Caution: Everyone has different perspective to look at markets, Just like all five fingers of hand can't be of same length so is the view of market participant. Only give it educational angle to this analysis never take financial decision someone else analysis do your own Only doubts will be answered any needless/baseless comments will not be entertained. 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
3
Nifty Day Chart Analysis - 25 Aug 2022On the Candlestick and Kagi Charts the level of 17490 is an important support, also the Moving Average of 20 periods is at 17484. So, If Nifty gives a breakdown of 17490 then it will test the levels of 16921 (38% of Fibonacci Retracement). The next support is on 16800. The range of 16920 to 17490 has many gap up openings. The overall setup of charts indicates the nifty will correct from these levels. Analyse by Using Support and Resistance Fibonacci Retracement Kagi Chart Candlestick Chart
NSE:NIFTYShort
by ssvirdi
GOLD Flat correction about to Complete! New High Awaits?Gold Wave 3 ended after Covid Rally at 2075$ then went in consolidation for long time. Wave 4 is in progress which is looking like Flat ABC correction which 3-3-5 waves pattern Wave B retraces 90% of A and then Wave C breaks low of A. Wave C is 5 wave impulse or diagonal structure Wave C in this case could be Ending Diagonal Pattern which is expected end between 1675-50$ After low near these levels one can wait for break of 1808$ to consider move beyond 2075$ If wave C goes beyond 1600$ mark then this Analysis will be invalid. 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)))))-------------------------------
TVC:GOLD
by Niftydirection
Nifty and B-Nifty both are at Major psychology resistance Healthy Correction must come at this level. Nifty and B-Nifty both are at Major psychology resistance 18000 and 39770-40000. On Friday both make bearish engulfing candle with heavy selling from over bought zone. we are expected still more correction up to 17300 and 38220. Next up move will come when both index close above these psychology levels till stay short. If market rise again and give chance to short near 17800-870 and 39200-450 must short or buy position in Put for 2-7 days
NSE:BANKNIFTYShort
by tradetechnicalanalyst