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Fibonacci Retracement

KOTAKBANK good to buy or wait for further correction?As we can see in the daily chart of KOTAKBANK, wave C of Flat Correction has reached 100% extension (which fulfills the rule of equality). The previous impulse also has a 50% retracement level around the same point, giving us a perfect cluster. Now, can we directly buy around this level? The answer is simple. Suppose the recent low,1735, is broken, and the stock starts to trade below this. In that case, the further level of wave C of Flat Correction will be opened, and the stock may further fall to 127.20% extension, where the 61.8% level of the previous impulse is also present, giving us another cluster. We can initiate buying at this point which is around 1695. Risky traders may start buying at the CMP with SL of recent low. This analysis is for educational purposes only. Always do your own analysis before doing any trade.
NSE:KOTAKBANKLong
by theprofityogi
Nifty small upmove possibleNIFTY has clear indication now that wave c of wave B is under formation. The recent down move has not touched 127% level, so this down move was clearly wave b of wave B. Now if we use fib extension for target of wave c of wave B, we get cluster around 25422 and 25416 level, where 161.8% extension of wave c and 50% retracement of bigger wave A (which is the maximum target of wave B of Zig-zag). So we have good buying opportunity here with stoploss below 24545 and target of 25420.
NSE:NIFTYLong
by theprofityogi
Breakout in TRIGYN May elevate Bullish MomentumToday, TRIGYN Technologies experienced a notable breakout above its established trendline, resulting in a gain of over 10% across two subsequent trading hours. This positive price movement indicates a potential shift in investor sentiment and market dynamics surrounding the stock. A detailed examination of price action reveals that the stock has established HH and HL in its uptrend. Notably, the price has found substantial support near the 50% Fibonacci retracement level, demonstrating resilience during correction phases. Today's closing price has surpassed the 61.8% Fibonacci retracement level, further reinforcing the bullish outlook for TRIGYN . The technical indicators support a continuation of the upward trend. The RSI has shown positive momentum and is positioned favourably. Additionally, the MACD indicator has recently experienced a bullish crossover on both the daily and weekly timeframes, which is often viewed as a strong signal for potential upward price activity. Furthermore, the positive momentum indicated by the histogram suggests a strengthening bullish trend, enhancing the case for a trend reversal. Based on the current analysis, TRIGYN presents opportunities for investors, with a potential price target identified at ₹152 . This target is consistent with the observed bullish trends and can be considered as a strategic exit point for gains. Disclaimer: The information provided in this technical analysis report is intended for informational and educational purposes only and should not be interpreted as financial advice. All investors are encouraged to conduct their own research and due diligence before making any investment decisions.
NSE:TRIGYNLong
by NiftyNotions
Morepen Lab - Bullish Flag and Fibonacci RetracementMorepen Lab has formed a bullish flag pattern, and today it has successfully broken out. The price has retested the Fibonacci level at 38, where it formed a bullish piercing pattern, signaling potential upside momentum. Price take support of 50 period EMA. Additionally, this level coincides with a significant demand zone on the chart, suggesting strong buying interest. Keep an eye on this stock for further upward movement
NSE:MOREPENLABLong
by Arvind_Share_Academy
Reliance - The Elephant can Turn EverythingReliance has been in a impulse since March 2023 from lows of 1979.15 to 2630.95 was size of Wave 1 & it retrace exactly 0.618% in wave 2 as marked in chart. Wave 3 starting from 2220.30 to 3024.90 was equal to Wave 1 in size or slightly bigger than wave 1 & Wave 4 did retrace exactly 0.382% as shown in chart. Wave 5 is exactly inverse 1.618 of Wave 4 fall. This entire Impulsive structure is a good example to study wave structure & understand fibonacci relations between Elliott waves & how a impulsive wave follows a trend channel. So is the Fall Over ? Ideally it has pulled back to previous degree Wave 4 which could be a good demand zone & A equals to C has also been achieved but daily positive close is first sign of bottom & we may see at least 3 Waves bounce or a new Impulse starting on upside & this could mean the Elephant could turn the market sentiment positive.
NSE:RELIANCELong
by churiwalvikram
2
Nifty 50-October 2024 viewI feel it is time to be little cautious. Post 4th June(the election results day), we have seen a good rally in market from 21300 to 26250 today which is almost 25% and that too without a significant pull back or correction. The rally since past couple of weeks is mainly due to large caps. There is no reason to be extremely bearish but as per fib retracement, we are near golden ratio of 61.8%. We might see a pullback or consolidation here before next move towards 27000+ levels. Important levels to look at is 26000 below which we should expect 25800, 25500 and 25350. Midsmall caps might see a bigger pullback than Nifty hence follow risk management in your swing positions. Nifty metal is looking quite bullish and is sector to keep in watchlist. Please note that I am not expecting a crash or big correction and hence please don't overreact and do panic selling.
NSE:NIFTY
by chartistamey
4
61.8% Fib bullish reversal with Volumes on WeeklyNSE:HINDZINC The stock started a bullish reversal from its 0.618 Fibonacci retracement level. RSI is also supportive. A sustained move beyond 546 would lead to a strong up move shortly. Above the 546 level trade will activate with a target of 680 and StopLoss 475 Check out my other stock ideas below until this trade gets activated, I would love your feedback. Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
NSE:HINDZINCLong
by Karanshah137
A Bullish Breakout Analysis of Alkyl AmineAlkyl Amine stock has recently exhibited a noteworthy price action following a consolidation phase that extended beyond 1,000 days. The stock has successfully retested a pivotal support level and demonstrated a robust bounce, closing above this key level, accompanied by a significant surge in buying volume. This development is indicative of a potential shift in the trend towards a bullish posture. From an Elliott Wave analysis perspective, the stock appears to be in the early stages of a wave pattern. This observation aligns with the bounce occurring at the 61.8% Fibonacci retracement level from the most recent higher high, suggesting a critical change in momentum. Further validating the bullish outlook, momentum indicators such as the RSI and the MACD are showing favourable signals on both the daily and weekly timeframes, reinforcing the likelihood of upward price movement. In terms of potential price levels, the current-demand zone is identified between 2305 and 2349 . Should the stock succeed in closing above the initial resistance level at 2484 , the next resistance levels to monitor would be at 2848 , 3162 , and ultimately 3526 . Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making any investment decisions.
NSE:ALKYLAMINELong
by NiftyNotions
6
ALKYLAMINE : How to spot Trend Reversal There are 3 tools to identify a Trend Reversal Fibonacci Retracement Indicator: - Fibonacci retracement levels are prices, depicted as horizontal lines on a chart, that indicate where support or resistance could likely to occur. - The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points. Here in this chart Swing low is 462 and Swing high is 4386 The price has fallen from 4386 and is consolidating at 0.618 which is also called as golden ratio and acts are strong support. Pattern Identification: The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedge’s resistance. Volume breakout after consolidation: Here in this chart, volumes are huge near the upper trendline of falling wedge pattern indicating a strong trend reversal. Thanks for sparing time to read this learning article. Good day!
NSE:ALKYLAMINELong
by PowerOfTA
FINNIFTY (CNXFINANCE) - A BEARISH CYPHER PATTERN FORMED. NSE:CNXFINANCE ❇️Harmonic chart pattern: BEARISH CYPHER PATTERN 👉🏻The Cypher pattern is one of the most profitable harmonic patterns and is useful for risk management, because of the large success rate. Traders can minimize losses if they follow the Cypher trading rules and meet the profit target. 🚀How to use ❇️The Cypher harmonic pattern is a trading strategy that uses Fibonacci numbers to identify turning points in geometric price patterns. It can help traders predict future movements, determine when trends will reverse, and decide when to buy and sell. Here are some steps for using the Cypher pattern: ❇️1. Draw the patterns 👉🏻Start with a bullish or bearish impulsive move from point X to A. Then, use a Fibonacci retracement tool to find point B between 38.2% and 61.8% of XA, without closing past 61.8%. Next, use a Fibonacci expansion tool to find point C between 127.2% and 141.4% of the move from X to A, without closing past 141.4%. Finally, use a Fibonacci retracement tool to find point D by moving from X to C and reaching the 78.6% region. You can also use a Fibonacci expansion tool to find point D by moving from B to C and landing between 127.2% and 200%. ❇️2. Enter the pattern 👉🏻Traders can enter a Cypher pattern by setting a limit order at the 78.6% level or using a market order after the price starts to reverse. ❇️3. Set stop losses 👉🏻For a bearish Cypher, place stop losses just above point X. For a bullish Cypher, place stop losses just below point X. ❇️4. Set take profits 👉🏻Draw a Fibonacci extension from point C to point D and set multiple take profits. For example, you could set the first take profit at Fibonacci one, the second at 1.272, and the third at 1.618. You can break into the trade when any of the take profits are hit. Many traders partially close their position at point A, but you can also choose point C for a more aggressive approach ENTRY STATUS: ACTIVE ✅ TARGET 23440-23140-22555 (as per this harmonic chart pattern) SL 23670 🚀Happy trading 🫡 👉🏻 @thetradeforecast🇮🇳
NSE:CNXFINANCEShort
by thetradeforecast
RAILTEL - AS PER FIB RETRACEMENT, CORRECTION WAVE MIGHT BE OVERHi, This idea is about Railtel Corporation of India Ltd ABOUT THE COMPANY RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a "Miniratna" PSE of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers TECHINCALS As per the price action, the first impulse wave took the price all the way from 337 to 615. THen the correction wave commenced which pulled back the price from 615 to 440 levels. The price point as per fib retracement is at the point of 50-61% which as per Elliot Wave theory should be the correction wave Next impulsive wave could start if the price aloses above 475 with volume support FUNDAMENTALS Market Cap ₹ 15,066 Cr. Current Price ₹ 469 High / Low ₹ 618 / 163 Stock P/E 56.4 Book Value ₹ 56.9 Dividend Yield 0.61 % ROCE 20.2 % ROE 15.2 % Face Value ₹ 10.0 Equity capital ₹ 321 Cr. No. Eq. Shares 32.1 EPS ₹ 7.99 Promoter holding 72.8 % Change in Prom Hold 0.00 % Chg in Prom Hold 3Yr 0.00 % Pledged percentage 0.00 % Market Cap to Sales 5.67 Sales growth 29.8 % PEG Ratio 3.81 EVEBITDA 27.9 Quick ratio 1.16 Trade receivables ₹ 1,268 Cr. Sales ₹ 2,658 Cr. Debt to equity 0.02 Price to book value 8.25 Free Cash Flow ₹ 347 Cr. CMP / FCF 75.8 Thanks, Stock-n-Shine
NSE:RAILTELLong
by Stock-n-Shine