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Fibonacci Retracement

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
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