Fibonacci Retracement
GREENPLY INDUSTRIESGREENPLY INDUSTRIES has formed a Wolfe Wave in Daily TF. As soon as it gets activated then a good return can be generated by the stock.
Chart & Analysis
ADARSH DEY
ONE POINT ONE SOLUTION The stock taking a good Support at 0.5 Retracement level.Volume is even drying up. 32.85-27.55 is a good accumulation zone with a proper SL.
CHART & ANALYSIS- ADARSH DEY
HCCTaking the support of Pivot Line(Black Horizontal Line). Recently tested 0.5 Retracement level. Seems like a BUY, detailed explanation will be given later.
GULF PETROSeems Bullish as it is trying to initiate 5th Wave. It has fantastically taken support at Golden ratio(0.618) of Wave 3rd, so it can be hoped that 4th wave formation has been completed. The expected targets are 61.90-68.75 - Long term target is 83.50.
Currently this stock is in triangle pattern once it breaks out it will easily achieve the target of 61.90, remaining two targets needs a mid term to long term view.
Chart & Analysis By - ADARSH DEY
NIfty Pharma on Bigger TimeframeNifty Pharma index started it's rally after the 2008 crash and top out in 2015.
Then it went for a long consolidation till 2020.
After analyzing retracement with fibonacci levels I saw that it had took support on 0.618 level and again showed a bullish up move.
It crossed it's all time high recently in 2021.
Before crossing, sellers tried to change trend but failed and buyers took control lead to forming a bullish hammer and engulfing candle which confirmed a strong rejection.
After breakout, for last few months it is in consolidation.
These candles in consolidation had formed long lower wicks showing the strong rejections.
It's important to see how this month's candle gives closing.
In this month one attempt have been failed as wee can see a wick above consolidation zone.
And it will confirm the bullish trend.
This post is for information purpose only.
This is my own analysis should not be consider as calls.
Doing analysis in simplistic manner without indicators. Keeping it less complicated.
Hope you all like it.
Thank You
Bandhan Bank ready to explode? Perfect Fib Setup 0.5 and 0.618 in Fibonacci is a golden zone from where price retraces so here Bandhan bank was following a trendline so to predict that pullback we used fib! We plotted Fibonacci from 165 to 423 (uptrend) and if we observe the reaction to our golden zone we can see it is a very important key zone. It broke out of Falling wedge with a nice breakout with good volumes. Since it gave a nice move after breakout so we need a minor pullback and that can happen if the price retests but 295 fib level is way too far and so I plotted Volume profile . Now it's clear, enter at POC (highest traded line) and that will be our entry point. A logical SL below 265 because what if it retests deep? We need to think like this. Targets are 350, 425 for as long we don't see a reversal in future! Get set go! HAPPY TRADING 💹
SUMMARY:-
Entry only if it retests depending upon the depth i.e. best entry 309 (at POC)
SL below golden fib level i.e. around 250
T1 350
T2 425
INDHOTELAs the stock is in a positive momentum the stock can be allocated after a retracement enter at the given fib support place a strict stop below the fib support . " EDUCATIONAL PURPOSE "..
HINDCON CHEMICALSSeems like a Good Buy. Because it has been testing the 0.5 Retracement level since last 5 weeks. And the financial performance of the company is also good. We can witness a good bounce in the times to come.
CHART & ANALYSIS BY
ADARSH KUMAR DEY
NIFTY OUTLOOKPrevious NIFTY OUTLOOK post was an indication for the Expected Bullishness. No surprise NIFTY didn't disappointed at all.
For 11th OCT the mentioned support level was 17841 and NIFTY shooted up exactly from the mentioned level.
For 12th OCT the mentioned support level was 17863.50 and NIFTY shooted up from the almost the same dot to dot level .
Link to my previous idea if any ones wants to study or verify:
As the NIFTY has closed above trendline "B" now the previous mentioned targets the GANN LEVEL ie 18110.90 and the extended golden ratio level ie.18253. 40 are still active.Those who are unable to understand please follow my previous NIFTY OUTLOOK study, link has been given above and in update idea section.
If you regularly go through my ideas and find it useful, please like and Follow. It keeps me motivated.
Chart & Analysis – ADARSH DEY
Buy_DALMIA BHARAT_ 30% upmove can be expectedDALBHARAT has been in the uptrend and has taken support from its 100 days EMA.
As per Fibonacci extension the next target can be expected at around 2742, 30% from CMP.
Time period for meeting the target - apprx. 1 month.
Stop Loss - 1975
NIFTY OUTLOOKDrawing the TL (trendline) is really important. It gives you a hypothetical idea about which & what way the certain stock or index is heading.This is an hourly TF chart of NIFTY . I have segregated the trend in to four parts by plotting the trendline A,B,C,D.The last line ie D is the major support in short term. In terms of price the support stands to be at 17731.
BRIEF ABOUT CURRENT SCENARIO :
Currently NIFTY is taking TL "B" as resistance and even it's all time high as resistance (focus on the red line 17911.70 ). But there is something i find positive about NIFTY is by wave countings it is in the process of completing wave 5th and it is taking 0.786 retracement level of the previous trend as support. NIFTY will head for the TL "A" once it crosses, closes and sustains above TL "B".
TARGET :
The next probable targets for NIFTY is TL "A" , the GANN LEVEL ie 18110.90 and the extended golden ratio level ie .18253. 40 .
EXTRAS:
The line chart of the very same chart has been given in updated idea section for a better view and understanding.
Please like and Follow .
CHART & ANALYSIS BY - ADARSH DEY
Triveni cup and handle, rsi above 60Triveni forming a cup and handle, it's touching all-time high, fib R2 breached in the daily timeframe.
Good fundamentals, Ethanol and hydropower generation catalyst
INDIGO TRADE SETUP FOR TOMORROWThere is strong resistance of 2051, stock two times rejected from this level.
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Indigo share break the resistance and then now it is in the correction mode.
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So for tomorrow you can buy this trade once it goes above 2051, for the target of 2140.
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Note: There is also a news that domestic airlines will be restart from Monday so we can see this news effect on this share.
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So we can see the gap up or good momentum in the morning and after the 12 maybe stock will do consolidation.
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What's your view on this comment below in the box
MIDCAP INDEXBooking all my long positions in midcap stocks and holding only quality ones as its a major resistance zone ie 2.618 extension of fibonacci
I wont worry if i go wrong or miss my profits. But will never ignore magical fib numbers
Stay cautious with the longs
DB INTERNATIONAL STOCK BROKERSThis company is into financial services. The QoQ revenue growth is good. Wave countings has been plotted on the chart.
Currently the stock is taking immense support at 0.786 Fibonacci Retracement level of the previous wave 2-3. This gives a clear hint that the stock will head for point 5 (Price level - 33.30).
However the short term targets are 23-24.
Please like & Follow. Happy Trading !
Chart & Analysis By - ADARSH DEY
BANSWARA SYNTEXThe stock has corrected from its 52 week high and trying to take support at 0.618 retracement level as well as its previous two highs,
Generally these are the levels where a stock sharply rebounds. It would be a BUY call from my side, of-course with a proper SL.
Chart & Analysis
ADARSH DEY
FULL LENTH EXPLANATORY ANALYSIS ON JINDAL STEEL AND POWER.Few pointers from my analysis on JINDAL STEEL AND POWER.
1. The stock has been in a significant uptrend , making higher high and higher low formation.
2. The stock has consolidated for good amount of time in the big continuation flag pattern.
3. The stock has been respecting all major Fibonacci retracement levels and has in-fact retraced upto fibo .618 level , which is golden ratio, considered a very healthy retracement on an uptrend.
4.The stock has recently broke out of the flag pattern with decent volumes, can expect a good momentum going forward on shorter-term
5. On RSI as well the breakout and retest has happened.
Entry : can be taken near by 410-415.
Timeframe used : Daily.
Targets:
T1 : 440 (FIBO .236 LEVEL)
T2 : 500 LEVELS (ATH ZONE)
T3 : 540 (PATTERN HIGHT TARGET)
Stop-Loss : 373
Conclusion : overall the setup is Bullish and high-probability for performing going forward.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
Relaxo looks bullishCan buy at CMP for short term gains.
Study: Fibonacci Retracement 78.6% level Support.
Fundamentals are also good.
THOMAS COOK | POLE FLAG + SUPPORT CONFLUENCEREASONS FOR ENTERTING TRADE
1. A pole flag structure with the base of the flag bouncing off the 200EMA.
2.This 200EMA bounce point coincides with the long-term support trendline,
3. & the 61.8% retracement of the pole.
3. Price sustains above the flag range after retest
Buying above 65 for a projected price target which is set as the pole height, from the breakout point.
SL 56
