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Fibonacci Retracement

Motilal Oswal - Long term BreakoutMotilal Oswal has given a massive breakout of year 2017 on daily chart. This stock has given almost 80% return in year 2023 and around 30% return in last one month. This breakout is all time high for this stock and entered in blue sky zone where there is no resistance upside. Generally stocks gives huge returns after all time high breakout. The possible targets from here can be found using Fibonacci retrenchment. Disclaimer: Stock shared for educational purpose and not a buy or sell recommendations
NSE:MOTILALOFSLong
by Vipin_Dixena
CEAT LTD - Fresh breakout on Daily and Weekly chartsEntire tyre manufacturing companies are in good position. This tyre manufacturing company has given a strong breakout on daily and weekly chart. Volume near the breakout is also increasing which is good sign. The stock is in blue sky zone hence, possible targets in the chart can be calculated using Fibonacci retrenchment tool. Disclaimer: Stock shared is for educational purpose and does not contains any buy or sell recommedations.
NSE:CEATLTDLong
by Vipin_Dixena
A stock for momentum traders!Quickheal has given a trendline breakout today with very heavy volumes. Stock has also managed to close above 61.8% fib retracement which clearly indicates a strong buy signal. However, the SL for positional traders is very far below 230 DCB. A retracement is favourable for short term traders. Best buy level can be 250-255 for targets of 330+. However, risky momentum traders can look for quick 5% returns at CMP. Stock might touch 295 levels in this momentum. Idea shared for educational purposes!
NSE:QUICKHEALLong
by chartistamey
1
DAMODARIND Nice Swing Opportunity ??!!! Better not to Miss!!!!Chart patterns look convincing for a long swing trade Reasons 1. Cup & Handle is in process. 2. 0.618 fib level broken out with volume(weekly timeframe) . 3. Double bottom with low and higher low . 4. Good volume support at perfect levels. Safe to get in after Cup & Handle Breakout.... Risky entry can be made if keeping the SL as Day close below 50. Quick Target can be the Neckline(70 level)!!! Fundamentally, Operating activity has been showing good numbers. Promoter pledge has been in the negative side of this stock... Will update once it breaks out!!! If pattern gets breakout....target as per pattern can be 120 level. Let's see how it moves!!! Note: Just Sharing my view...not a tip nor advice!!!
NSE:DAMODARINDLong
by mmjimm
Elgi Equipment Next leg rally to start?Details of entry and exits are mentioned on charts. Stop loss ~5% and target ~15%. Given target is for swing trading, if aggressively breaks wedge upper line expect it move rapid up in longer term. Please Boost this analysis with likes and comments. DISCLAIMER: There is no guarantee of profits or no exceptions from losses. The stock and its levels discussed are solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Seek help of your financial advisor before investing/trading. Investment Warnings: We would like to draw your attention to the following important investment warnings. -Investment is subject to market risks. -The value of shares and investments and the income derived from them can go down as well as up. -Investors may not get back the amount they invested - losing one's shirt is a real risk. -Past performance is not a guide to future performance. -I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:ELGIEQUIPLong
by Niftydirection