FASP levels for Nifty 09/04/2024The FASP for Nifty is listed for 09-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
Fibonacci Retracement
FASP levels for Bank Nifty 05/04/2024The FASP for BankNifty is listed for 05-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
FASP levels for Nifty 05/04/2024The FASP for Nifty is listed for 05-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
Falling Knife stocks-How to identify them?I have discussed in previous post about what exactly falling knife stock is with a case study.
The next question would be how would an investor know that stock is a part of falling knife category?
To identify such stocks, I feel you should know about 2 concepts/indicators which are Moving averages and Fibonacci retracement. I will try to make you understand these concepts and also the levels where averaging/investing can be started.
1. Fibonacci(Fib) is a mathematical concept which governs the entire universe, even our stock markets. I can't explain the entire scientific concept here so just sticking to stock market.
Fib retracements help investors identify support and resistance for stock. There are 2 golden ratios which every investor must know, 38.2%(0.382) and 61.8%(0.618).
When a stock is in uptrend, 38.2% is the level where most stocks retrace upto. 61.8% is considered as last ray of hope for bounce in retracement. Any stock which has fallen below 61.8% is considered weak.
2. Moving averages(MA) are indicators which are continuously changing with moving stock market. These are an average of prices over a time period, hence Time frame is important.
There are many types of moving average, we use mostly simple and exponential.
When I say 20 Day EMA, it is Exponential average of 20 days of closing price of stock or when I say 200 week SMA, it is simple average of 200 weeks closing price.
Exponential is more used than Simple moving average which has scientific reason behind it so if you are curious, you can search for it.
200 Week moving average is considered as last ray of hope for investment. A fall below 200 Week moving average or 50 Month EMA indicates strong bearishness.
3. I have seen stocks reach from top to bottom and top again. Tata motors, HDFCAMC being few famous examples. Even, Most of real estate, PSU banks stocks are reversing. So, equity is beautiful, wild and highly unpredictable. However, A stuck investor should wait for monthly closing above 61.8% to start averaging in such stocks. Also, a closing above 200 Week EMA will slightly indicate return of bullishness and that's where reversal traders should think of investing
I feel this much knowledge is enough for now. If you have got some enlightenment from above information, lets apply this knowledge on one stock where I know many many investors are stuck, Rajesh Exports.
How do I know? I saw the shareholding pattern and that's where I was shocked to see the number of shareholders increase from 45000 odd to over 2 lakhs in the past 9 months!
Starting with fundamentals, Rajesh Exports Ltd is 4 decade old manufacturer of Gold and Gold Products available at a PE of around 9 and sales growth of 20% in last 3 years. All the ratios feel nice to me except the operating margin which is below 2% consistently which has led to drop in EPS which is major concern in the stock.
Technically, stock had a 52 week high of 1030 in Feb 2023 and it is now available at 360 odd which is more than 60% wealth destroyed. And as I said, the number of shareholders have grown 5x in the same time. (Note that FII, DII holding has reduced in same period).
If i see now from a non-investors perspective(psychology explains that investor can never see the bearishness), the stock has formed a beautiful double top and broken its neckline which was 61.8% of fib retracement all ready for a further fall and I see no support till 270-300 zone(sorry investors). It is also below 200 week moving average-red wavy line(if you check monthly chart, it is below 200 month moving average as well). A perfect example of Falling knife.
What next? If I were an investor, My last SL would have been 525 which is 50% retracement. Since, the stock is below 61.8% retracement , there is no chance of averaging at this moment. Hence, I feel investors should wait & watch until stock moves above 440 before averaging/entering. Don't jump in it. Wait for a big bullish monthly candle before averaging.
Also....
As promised,, I am sharing you names of stock which i have identified to be part of this unloved category. As an homework, do check fundamentals and reversal levels based on what we have discussed above.
The stocks are GRINFRA, TCNSClothing, Metropolis, Luxindustries, Polyplex, HLEGlasscoat, Deltacorp, Barbequenation.
If you are a curious investor, even you can find such stocks and do let me know in the comments below.
I would like to discuss any doubts regarding the concepts, idea or anything related to stock market so feel free to comment.
Keep investing, keep minting. India has a very big future ahead so these are the best few years to invest in India.Be a smart investor because it is important that you choose the right stock to meet your financial goals.
Fibo levels - BTC - 84800Considering the convergence level & wave count, have drawn few important support & resistance levels.
At current price structure, the prices could extend upto 84700 -84800 levels, this level has more convergence or going to be the area of confluence.
& price movement also stiff & it has expended more than 1.5X of 200 EMA.
T1: 79450
T2: 84800
T3: 90800
BPCL | Weekly Chart | 6 years BO | Chart analysis on Weekly time frame:
Analysis:
1. Resistance zone is tested 5 times before final BO making it very critical resistance zone.
2. Before BO, consolidation happened supported by volume build up which eventually indicates that the stock accumulation is happening.
Breakout: Consolidation phase BO happened on 2-Feb-2024 followed by BO supporting candle.
Trade setup:
Entry price: If price closes above 577.85.
Stop loss: Below 522.3
Target 1: 667.7
Target 2: 813.1
Target 3: 855.9
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
ABFRL Outlook...I've applied the Fibonacci retracement tool to ABFRL stock's recent uptrend to identify potential support and resistance levels.
Analysis:
Starting Point: Mentioned on the chart
Ending Point: Mentioned on the chart
Disclaimer: This is for educational purposes only. Conduct your own research and consider your risk tolerance before trading.
FASP levels for Nifty 06/03/2024The FASP for Nifty is listed for 06-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
FASP levels for Bank Nifty 06/03/2024The FASP for BankNifty is listed for 06-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
FASP levels for Nifty 05/03/2024The FASP for Nifty is listed for 05-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
FASP levels for Bank Nifty 05/03/2024The FASP for BankNifty is listed for 05-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
Banknifty weekly analysis for 04/03/24.Last week the markets were volatile.
A M pattern formation and immediate reversal forming a V pattern shows the volatility.
The market need to retest of halt on the upper levels before crossing the ATH.
On friday, there was a 2.5% bullish move in banknifty it seem to be bullish as on intraday levels.
Positional trades can also be entered, if market comes to test 46500-700 zone.
Now the resistances on the upper side seems to be somewhat weak.
Major bullish target :- 47600, 47840
Supports are far and there should be a retest.
Wait for the price action near the levels before entering the market.