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Fibonacci Retracement

PAPER INDUSTRIES MAY GIVE RALLYJK PAPER : Currently this is trapped in rectangular pattern consolidation. The upper ceiling stands to be at 253 and lower support is 218. It has been range bound with in this range. Recently it is testing 220*4 HRS Moving average. Previously the up move came after it tested 220*4 HRS Moving average. And hopefully we will see a good up move from now onwards, the SL remains to be at below 218 on closing basis. SESHAPAPER : This stock is taking support at 200 DMA and in bullish continuation pattern. Fundamentals are even good. RUCHIRA : Ruchira Papers is the stock I am having a lot of expectation. Currently It is taking Resistance as support. Respecting the 200 DMA as well.I am bullish about this stock also. Analysis & Chart by - ADARSH DEY
NSE:JKPAPER
by AdarshDey
DEN NETWORKS LTDThis company is fundamentally not so annoying, the financial performance is above industrial median. Currently it seems to be really interesting at this point of time on Weekly TF.There are some key points we need to watch: 1. There was a Bearish Wolfe Wave that started forming in early 2016. And the 5th wave of the same was completed in covid pandemic. After the formation was completed the stock soared up to complete the pattern. 2. The stock completed the expected target and then started coming down from July 2020 Onwards. 3. After the stock started coming down(Wave B) it has finally found a support at 0.786 Level of (5-A) Wave ie.44.65 4. The volume is Alarming since May 2021. Such high volumes were never seen in its entire life-time.This is an indication of Changing hands and a starting of Wave 3 or C Here it has very good chances of gifting us with an upside reversal for Wave C.The trade setup for it will be a BUY with an SL of 44.50 on Weekly Closing basis.The risk reward ratio at Current Market point seems really good if we look at the expected targets of (65.80 - 78.30).However this a weekly TF chart, Patience is needed to see the targets achieved. And never forget SL,after all markets can be risky at any point of time. CHART & ANALYSIS BY - ADARSH DEY
NSE:DENLong
by AdarshDey
SBIN took support at 20 EMA…SBIN took support at 20 EMA… Reasons/Traits : • Took support at 0.382 fib retracement level • Above 20 EMA • Strong up move, force index 3 is less than 0 and force index 13 is greater than 0 • ADX 20 is greater than ADX 30 as well ADX DI + > ADX DI - • Force index 3 is greater than 0 and Force index 13 is less than 0 • VWMA is greater than 100 What can happen next : Scenario 1 : Price sustaining above 492 levels can take it to 500/510/520/530/540 levels (3.618 fib retracement of last high high) Scenario 2 : Price break down below 490 can take it down to 480/468/452/442/432/425/410 levels Important levels are mentioned above and it doesn’t mean it will achieve all one by one … price can hover along these prices and due course of time will tell us the price movement between these levels. 468 is important level and breaking it can take the price down or it can bounce back. 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:SBINLong
by AdhigamaTrading
ITC - Perfect bounce from golden fib levels !Category: Fibonacci Retracement Key Highlights: 1. Bullish market structure making HH-HL pattern. 2. Price taking support from one of the key zone levels. 3. Bullish volume is higher and weak non-patient hands are getting out. Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk. Abhishek Singh (@Abhishek_TradersSin) ~ Middle-class IT Employee trying to simplify Technical Analysis. ~ Do follow and like if you like the work.
NSE:ITC
by Abhishek_TradersSin
2
UltraTech Cement : AnalysisAs per the price Pattern and fib levels market seems to be bullish. As per entry levels Ultratech is at support levels and shown a green candle today. Their are two possibilities: 1) It will break the trend line and start moving up OR 2) It will consolidate near blue zone shown in the graph. As per present market nifty seems to be very bullish hence possibility of breaking up is good. Safe trade would be to wait for Trend line breakout and Retracement. Once if give good conformation and entry can be place and good targets would be Previous high. The only hindrence in between is 0.23 Fib level where possibility of market consolidation for few days is good. PS: Trade as per your risk appetite and follow RR Ratio.
NSE:ULTRACEMCOLong
by Umang_Sharma
2
NMDC - Multiple CONFIRMATIONSNMDC Current STRUCTURE- Rounding Bottom Breakout + RETEST MULTIPLE CONFIRMATIONS :- * Volume Expansion - Volumes since the last three months have been huge and continuously expanding * RSI bullish Divergence- NMDC is forming flat bottoms whereas RSI is forming Lower Highs which is contradicting hence we listen to what RSI is doing and this is an early signal of a reversal that can be expected really soon! * At The Golden Fib Zone b/w 0.618 & 0.5- We plot Fibonacci retracement and we see it is currently at a golden zone between 0.618 and 0.5 fib levels. We can take an entry when 0.5 gets broken by bullish candle or above 158 * Bullish Engulfing- At the second flat bottom it formed a bearish candle followed by a big bullish candle which indicates the previous candle was engulfed completely and hence it is a reversal candlestick pattern! Comment your views/queries and thanks for reading! HAPPY TRADING :)
NSE:NMDCLong
by UnknownUnicorn21160479
6
Nifty Flat Elliott Wave corretion ahead before final fallNifty after going continuously up taking breather. Currently in triple zig-zag correction of which XX wave in progress which is expected to be flat till 17915-70 levels. The last correction wave is suppose to end near 17180 if we consider nifty starts drop from 17915. Z wave targets will change based on where flat ABC (or XX) end. Off course bounce is expected on upside from 17200 odd levels 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. Details in description. -------(((((Please LIKE or Comment)))))-------
NSE:NIFTY
by Niftydirection
HCL TechHCL Tech Reasons/Traits : • Bullish Gartley harmonic pattern is forming (gets confirmed if price goes and stays below 1254) • Price below 13 EMA ready to touch 50 EMA • Price is below 0.236 retracements levels • RSI falling What can happen next : Scenario 1 : Price sustaining above 1265 levels can take it to 1285/1335/1365/1400 levels Scenario 2 : Price break down below 1254 levels can take it down to 1227/1182/1135/1070/980 levels 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! Please do like and share this idea. Thanks
NSE:HCLTECH
by AdhigamaTrading
3
NIFTY OUTLOOKIn the previous post of NIFTY OUTLOOK the weekly target and support was given and alarm for cautiousness was updated. The target was missed by a small margin and as expected NIFTY came rolling down. But the weekly support was not broken and respected Dot to Dot . In-fact a Bullish Wolfe Wave was formed at support which was even updated when nifty was at its bottom. ( The link is mentioned below ) The target was mentioned as 18310 which was even achieved and a downside reversal was seen. So managed to achieve 300 Points return in NIFTY The reversal was because of a Bearish Wolfe Wave formed and the target of it remains to be 18100 Levels.The level is important because it is a cluster of P4 of Bearish wave formed and the Golden Ratio of the entire recent uptrend.Once it is broken the targets will be updated or if nifty takes support the next move will be updated as well. If you regularly go through my ideas and find it useful, please like and Follow. It keeps me motivated. Chart & Analysis By- ADARSH DEY
NSE:NIFTY
by AdarshDey
1
NIFTY OUTLOOKThe previous week targets and supports were respected dot to dot. The upcoming week is expected to be good but cautiously. The expected target for the upcoming week is 18800 levels once it crosses the black TL drawn. Why the level is so important because it is a cluster point of the COVID downtrend and FEB –APR 2021 downtrend. The weekly support level is 17947.65. I am really sorry,unable to explain properly this time due to busy weekend. Rest all detailed explanation will be updated daily in update idea section. So please follow and like to stay updated with daily support and target levels . CHART & ANALYSIS- ADARSH DEY
NSE:NIFTY
by AdarshDey
2
Maruti Readying for a big moveThere is a strong resistance at 7800-8000. Maruti has has struggled since a year 2018 to cross it. From all time high resistance is just 20% down. on the lower end 6500 is the support year. Twice it broke down on lower time frames but failed to do so on monthly chart. In first breakdown price returned in 7800-6500 band in next candle & in march owing to severity of fall it took more candles return in the mentioned band, there was no follow up selling. This 1300 Rs band on monthly time frame shows the stock is just taking a breather after continuous up-move since multiyear breakout around 1850 in year 2014. stock almost became 5x hence a breather is expected Now after spending 3 years in consolidation, it looks attractive to accumulate for short term trading & long-term investment. Vven the stop loss is at 6000, just 1000 rs down from CMP 7300. not even 20%, which makes maruti a good pick for long-term. As per Fibonacci retracements stock is consolidating in 78.6% to 61.8% . 78.6% & 61.8% are most nearest to the top Shallower the retracement healthier is the uptrend.
NSE:MARUTILong
by varadtambolkar
2