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Fibonacci Retracement

ICICI BANK case studyIcici bank spot cmp 763 counter gave a gap up opening few days a go,, but the opening candle of particular day was not crossed and there was no follow through buying, now counter have reversed and filled the gap,, currently around demand zone of gap levels and golden means retracement ratio of previous swing. very small candle formation around lower levels with low volume divergence on rsi on all lower time frame till 60 min RSI over sold on all time frame below 60 mins reversal in counter possible from current levels time to cover your shorts and rethink of what can be done..
NSE:ICICIBANKLong
by RUDRA007
1
BIOCON ( Ready for Marathon)BIOCON: Few key points to note: - Seems like Wave 4 is completed and Wave 5th have been initiated. -Respected the Golden Ratio of the prior trend. - RSI Bullish Divergence (Double Bottom) - Support taken at 200 Weekly Moving Average & EMA - Bullish Candlestick pattern formed at Official Level (Golden Ratio) & Moving Averages. I expect upside reversal in BIOCON from this point. However the trade gets activated once it closes above 350 and the expected target is 421-544-596.Please note, this is a weekly Time Frame chart, it would definitely take time to see the targets being achieved. So have patience if you venture with this stock with an appropriate SL. CHART & ANALYSIS – ADARSH DEY
NSE:BIOCON
by AdarshDey
2
JINDAL STEEL & POWER(SHORT TERM BOUNCE)JINDAL STEEL & POWER: Few key points to note: - Near the support & resistance trend line - At golden ratio of prior trend. - Waves counting are mentioned - Recently tested 200 EMA I expect a small bounce from this point for 420-430-447, but we don’t have any reversal signal yet. Once a bullish candle is formed at this level, we can long for the mentioned targets. However for long term (1 YEAR & ABOVE) I am not bullish on this stock at this point of time because few important parameters are not met. CHART & ANALYSIS – ADARSH DEY
NSE:JINDALSTEL
by AdarshDey
For Education Only - GBPJPY PairHello Traders, Hope you all are doing good!! My analysis on GBPJPY is bullish biased, If you look at daily time frame and draw Fibonacci Retracement from swing low to swing high you can clearly see price tested at 0.62 fib level. Now if you go to weekly time frame you can see this week was doji and previous week was huge bear candle so now I'm expecting bullish candle in next week because it can form a morning star in weekly time frame if it gonna be so. Now open 1H time frame and look at that 1H rejection candle at 0.62 fib level drawn on daily time frame which gives us a little strong indication of what the analysis is, and that weekly doji is now consolidation in 1H time frame, there are key zones also at 0.62 fib level in daily which makes it area of confluence. NOTE : COMMENT DOWN BELOW IF YOU NEED DIFFERENT TIME FRAME CHARTS. Disclaimer : Don't blindly follow anyone's analysis, research on your own then trade. I hope you like my analysis, if you do hit that thumbs up and follow me for more! Thank YOU!!
Long
by anshulkashyap121
JSW Steel looks weak…JSW Steel looks weak… Reasons/Traits : • Ascending triangle formation seen • Below 50 EMA • Price moving between 0.236 and 0.382 retracements levels since few days from recent high • Constantly falling RSI • Force index 3 is greater than 0 and Force index 13 is less than 0 • ADX negative is greater than ADX positive What can happen next : Scenario 1 : Price sustaining above 690/692 levels can take it to 700/720/730/740/750/760 levels Scenario 2 : Price break down below 665 can take it down to 645/630/610/595 levels Sharp movement can be seen if training pattern is broken Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
NSE:JSWSTEELShort
by AdhigamaTrading
IB Real Estate Fib Retracement 38.2% levelsIB Real Estate recently hit its all time high around 195-196 zones. After this upmove, stock corrected to its 38.2% levels i.e. around 177-178 zones. This zone has previously also acted as a strong support (demand zone) for the stock. This time also the stock has respected this support level and bounced back from it. A strong sustained support from the current levels can lead the stock towards its all time highs. I am personally bullish on this stock. *** I am not SEBI Registered Advisor, do consult before taking trade. ***
ILong
by ParyataK
Ultratech Cement On final push then fall aheadUltratech Cement had stellar rally from 2900 to 8000+ looks to be heading max 8532 which is max possible upside for it as wave 5. Then a corrective wave will start towards 6300 which is 0.382 fibonacci levels. Notice MACD Negative Divergence price making higher high and MACD higher lows. DISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. Not recommended to take FnO positions based on this analysis I may or may not trade this analysis.
NSE:ULTRACEMCOShort
by Niftydirection
NIFTY OUTLOOKIn my previous Nifty Outlook post the findings were that we should expect a reversal of this point and as it is last day of the month(29th Oct) so I expect the correction to be over. And thankfully market respected the pattern and till now it hasn't breached the Low of 29th Oct. The link for the previous study: Now during this entire fall, luckily a Bullish wolfe wave has been spotted. And recently on 3rd November NIFTY has tested the 135 TL successfully by making a low exactly at 135 TL. The first target is 18098. The next target is the P4 ie.18342. A good up-move and market wide participation will be seen only above 18324. The bigger targets will be updated once NIFTY crosses above 18342. Chart & Analysis - ADARSH DEY
NSE:NIFTY
by AdarshDey
HDFC Bank long opportunityNSE:HDFCBANK Hello all! HDFC Bank has been trading in a channel since the covid crash. It's now on the lower channel trendline again which makes a good opportunity to go long because the stop loss will be very minimal. Also, the stock is between its 50% and 61.8% Fib Level and is trading in a very important zone which acted as a strong resistance earlier and should now act as a good support Do let me know your views on this! HAPPY TRADING! *NOT A CALL*
NSE:HDFCBANKLong
by Traders_Town
AXIS BANK AT CRUCIAL SHORT TERM SUPPORTAXIS BANK: Looking at it through curved trendline, It seems to be at a crucial support an has the chances of rebounding for nearly around 4 -5% of return. Another confirmation would be 0.786 Retracement level of the previous trend. And after so huge fall expectation of a dead cat bounce is not at all superficial. The dual confirmation of curve Trendline and Retracement makes it a good bet. Targets remains to be 779 and 799. Stop-loss would be below 740 on closing basis. CHART & ANALYSIS BY - ADARSH DEY
NSE:AXISBANK
by AdarshDey
Inverted Head and Shoulder in Hindpetro.Stock has been in a down trend since june and was not able to give a break out. Price has tested the resistance zone 3 times and now is the fourth time it is trying to break. And during this process an inverted head and shoulder pattern is formed on the price chart. As we know that it is a reversal chart pattern, and we can see an upmove from here if price successfully breaks above the neckline and sustain there. From here if demand comes, we can see a huge breakout with above average volume, we can enter above 280 level and can put a stoploss below previous low which will be the right shoulder. If the price consolidates near the neck line it will be the best case secenario and will give a good risk to reward ratio.
NSE:HINDPETROLong
by anuragsahu614
2