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Fibonacci Retracement

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
NSE:NIFTY
by AdarshDey
4
INDIGO TRADE SETUP FOR TOMORROWThere is strong resistance of 2051, stock two times rejected from this level. . Indigo share break the resistance and then now it is in the correction mode. . So for tomorrow you can buy this trade once it goes above 2051, for the target of 2140. . Note: There is also a news that domestic airlines will be restart from Monday so we can see this news effect on this share. . So we can see the gap up or good momentum in the morning and after the 12 maybe stock will do consolidation. . What's your view on this comment below in the box
NSE:INDIGOLong
by neerajlalwani081
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.
NSE:JINDALSTELLong
by saikrishna9999
5
LIC Housing Finance Ltd Wave AnalysisLIC Housing Finance Ltd is corrective wave 2 of internal wave 1. It has completed correction for A leg and it is going for A, which can show you the level of 475 appx. and a strong reversal can happen at that level. We can see the wave completing around 324 which is the 61.8% of internal wave 1. When we will see the level of 324 appx we will go for 3rd wave of this internal wave 1. Please do your own analysis before taking any trade, I might be wrong in my analysis. Do comment and like for motivating me for similar analysis. Regards
NSE:LICHSGFIN
by imkhushal
1