Fibonacci Retracement
Good opportuniy to invest in GOLD.All observations on chart.
MULTIPLE CONFIRMATIONS & EXPLANATIONS OF DRAWINGS
As you can see gold bounced tom 38.2% fibonacci level a good level to buy the dip.
19% correction from the top till pre covid levels
Falling channel pattern visible on charts, usually gives good move on the upside.
Double bottom pattern breakout given today.
Price comfortable above 20 moving average & made a new swing high
Overall this is attractive price to enter from long term view.
A short view of BTC via Fibonacci retracementsThis is just a short term outlook looking at previous trend patterns of BTC buy-sell cycles on a period of 3 months. A basic extrapolation of fibonacci levels can indicate short term long strategies of 2-3% upside over a period of 7-10 days. Let me know what you think.
SBIN following fibonacci series strictlyClearly we can see that at every major fibonacci levels the stock had a response. yesterday stock has touched 38.2% retracement which is good though not considered very strong because a retracement of 61.8% and bounce is considered very strong. Also this is expected because of the external influences. a 38.2% retracement is healthy and bounce here can take the stock beyond earlier high. I would like to consider little below 23.6% (306) as a stop loss and go long. My first target would be 344 and 2nd target is 362.
How much Downside might be due in Bajaj Finance? A few levels on which Bajaj Finance should find support while it corrects its full post Covid journey past one year.
These levels are illustrated to understand how much downside is still left as a probability.
Generally it comes down beyond 200 SMA before it bounce Upside, so 4200-4300 level works to support NSE:BAJFINANCE .
Look out for these levels of rejection and wait for confirmation to Up-side when it breaks out from a Trend line drawn in the Chart.
Predictions are merely for education purposes. No Trading Advice whatsoever in this profile.
Banknifty long setup on 15 mins chartBNF is under pressure due to lockdown and increase in COVID news. After a huge gap up, most of traders were long on trade under intention of recovery but BNF has hit all the stoploss. Before ending mondays session we can see some increase in size of green candles indicating that either there has been a profit booking session and we can see some later effect tomorrow. Using Fibonacci we can observe that BNF after a sharp fall is sustaining near 0.38% level. We expect that BNF can test 50% & 61.8% level in order to continue a healthy retracement. The gap diff between levels is still under a price of 250-350 points. Our first target will be 31100 at 59% level and 31250 near 61.8% level. Trade safe.
Nifty InstaView 12 Apr’21: “Bear” Burps
Nifty View: A huge knock to the benchmark Nifty in today’s session as the index lost over 500 points. It was all out selling from the very beginning when the index gapped down over 200 points. The short term trend which was trying to hold up has mercilessly turned down and now we have an index which is in a down trend across both immediate and intermediate time frame. This is not a good sign. The index is now close to the low fo 25th March’21 which can try to provide some support, but considering the kind of momentum with which the index sold off today, its doubtful whether index will slow down anytime soon. A look at the 75min chart definitely shows a beaten down index which is deeply over-sold and so some degree of consolidation or ease-off is likely, but one should not attempt to call a bottom yet and aggressively look to buy. It’s prudent to wait out for the selling pressure to slow down first.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
MCX Silver Will Touch 68000?Volume accumulation is confirming a downtrend. Here, the price is in a downtrend. But if you look for the short-term, silver price has started rising nearby the retracement value of 0.382. We may see a bullish reversal from the 0.236 value for 0.382 to 0.5.
MCX silver futures prices may hike to the levels of 66000 - 66600 - 67000 - 68000 .
Overall, a clear trend will identify after moving averages crossover.
[Positional/swing] HPL Electrical LongBO with recorded high volumes now at retest
Buy at CMP (good buy zone is 50-45)
weak below 38(Small cap so please maintain SL below 38 on closing basis)
target of 64-74-90
Resistance acts as Support near 49-47 Also Fibonacci retracement zone (61.8%) near 48
Increasing volumes during uptrend
volume dry up during consolidation
Info edge 4th wave double or triple correctionInfo edge could be completing 4th wave correction or may give final correction in Z wave till 0.618 fibonacci level.
Other details on chart. Since exact end of 4th wave not know so Swing low would be stop loss
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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JSW Steel Extended 3rd and 5th Waves and Channel ResistanceStock has spectacular rally after March 2020 lows due to extended 3rd and 5th Waves.
The channel has been drawn between mar 2020 lows and previous all time high.
Now V of 5th is ending diagonal and Negative divergence seen on MACD.
Break of lower channel line of ending diagonal would confirm downside which is expected to go 0.618 or more.
Alternative to this analysis If stock moves past 460 it can head towards next Fibonacci extension points 485/524
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.
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DOLAT Weekly Breakoutit has given weekly breakout with good volume at 62 levels. it has retest breakout level on daily time frame.
Steady rise in volume on weekly since January.
it can rally upto 84 levels.
RSI is at 67 on weekly and daily