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Fibonacci Retracement

Nifty Price action under election Year cues.Nifty next up move will come when it close above 22150 on monthly chart. Empirically, in General election year, Nifty has a tendency to bottom out in Feb-March, followed by minimum 12-16% rally towards General election outcome in each of seven instances over past three decades. As per chart nifty may be bottom out near levels 21120-20850 in upcoming days. So, buy on dip approach may work for the investors. Next target for Nifty after bottom out would be 24700 in May-June 2024.
NSE:NIFTYLong
by tradetechnicalanalyst
1
LICI- All time high breakoutInsurance sector in action with leading company giving all time high breakout. LIC of India is giving all time high breakout on daily chart. The volume in last 1-2 months are quite high and stock has till now given a returns of almost 30% in year 2023. This seems just the beginning of rally in this stock. The next possible levels on the chart is 1083 according to Fibonacci. Disclaimer: The stock shared is only for educational purpose and does not include any buy or sell recommendations.
NSE:LICILong
by Vipin_Dixena
CMSINFO | Weekly Chart | Ascending triangle patternChart analysis: Pattern: Ascending triangle pattern is formed when the consolidation takes place. The pattern is formed from more than 6 months candles indicating strong pattern formation and after BO the trend continues. Pullback: Pullback of last rally is between 0.382 and 0.5 which indicates the momentum is still present. Volume: Volume dry up happening, confirming the consolidation phase. Conclusion: Wait for the Ascending triangle BO supported by volume spike. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
NSE:CMSINFO
by SanjogY
NIFTY and BANKNIFTY Analysis for Tomorrow Nifty made a good triangle pattern in 15 and 5 min Timeframe and gave a breakout and retest scenerio on 21700 levels. Well, since tomorrow is a BUDGET day which is gonna be released on 11 am. I am gonna avoid all the morning trades due to the volatility in the market in the morning session. Premiums will be high too in the morning because FIIs/DIIs will be waiting for the Budget to be released. I will be marking High/Low of the day tomorrow and will be trading breakouts in the 2nd half of the day. Banknifty has its levels drawn and there was a consolidation too in the 2nd half. But again since the budget is there no trades till 11:30/12:00pm. Will be marking Day's High and Low then gonna trade breakouts.
NSE:NIFTYLong
by Erratic_Trader
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