RETRACEMENT DONE IN BANK NIFTY RETRACEMENT DONE IN BANK NIFTY
Bank Nifty Trading in 50-61% FIB RETRACEMENT ZONE
Short Triggered in BankNifty
MIN 750 POINTS FALL EXPECTED
TARGET 44000 - 43900- 43800
Fibonacci Retracement
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Price is at very strong support based on Fibonacci Retracement.
Stoploss on weekly closing basis
BIRLA CORP - 75% RETURNS!!!BUY - BIRLA CORPORATION
CMP - Rs. 921
Target - 1: Rs. 1239
Target - 2: Rs. 1454
Target - 3: Rs. 1615
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Comment: Target - 3 will be achieved in the long term.
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Technicals - 1) Harmonic Pattern - Anti-Crab
2) Targets set using Fibonacci Retracement.
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ORIENT CEMENT - 30% RETURNS!!!BUY - ORIENT CEMENT
CMP - Rs. 114
Target - 1: Rs. 128
Target - 2: Rs. 139
Target - 3: Rs. 148
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Comment: Target - 3 will be achieved in the medium-term.
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Technicals - 1) Harmonic Pattern - Cypher
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IRFC - 65% RETURNS!!!BUY - IRFC
CMP - Rs. 26
Target - 1: Rs. 30
Target - 2: Rs. 34
Target - 3: Rs. 42
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Technicals - 1) Bullish Bat and Navarro 200 Harmonic Patterns.
2) Targets set using Fibonacci Retracements.
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NIFTY Analysis for Wednesday.Market went sideways. It was a shit show for options buyers like me. Well, Hoping for a good day tomorrow. Cheers!
DILIP BUILDCON - 210% RETURNS!!!BUY - DILIP BUILDCON LTD
CMP - Rs. 168
Target - 1: Rs. 305
Target - 2: Rs. 389
Target - 3: Rs. 526
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Technicals - 1) Bullish Harmonic Pattern - Navarro 200.
2) Targets set using Fibonacci Retracements.
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Fundamentals - 1) The stock emerged to be the lowest bidder for a highway project worth INR 7.8 Billion. This may be
justified by the fall in quarterly profits or the lack of funds required for taking on the project.
2) However, their annual profits have been consistently rising, and the new Budget for FY 2023-24 supports
infrastructure companies, indicating a rise in profits.
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Samvardhana Motherson InternationalHello & welcome to this analysis
A rank outperformer from its listing back in 1999, stock has a history of doing deeper retracements and then following it with much stronger rallies.
Currently in the monthly time frame its forming a cup & handle pattern that suggests accumulation for yet another strong upside.
However, in the short term it could see a dip if current support levels are broken.
Overall a strong stock in lower time frame consolidation/correction.
Happy Investing
BAJAJ FINANCE - 33% RETURNS!!!BUY - BAJAJ FINANCE LTD
CMP - Rs. 5649
Target - 1: Rs. 6880
Target - 2: Rs. 7689
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Technicals - 1) Bullish Harmonic Pattern - Anti-Crab.
2) Targets set using Fibonacci Retracements.
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Comment - The 2nd target will be achieved in the medium-term
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ENGINEERS INDIA - 164% RETURNS!!!BUY - ENGINEERS INDIA
CMP - Rs. 75
Target - 1: Rs. 117
Target - 2: Rs. 150
Target - 3: Rs. 200
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Comment: Targets 2 and 3 will be achieved in the long term.
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Technicals - 1) Harmonic Pattern indicating Bullish Reversal.
2) Targets set using Fibonacci Retracements and Gann Angles.
3) The stock is at support.
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ICICIGI - 45% RETURNS!!!BUY - ICICI LOMBARD GEN
CMP - Rs. 1071
Target - 1: Rs. 1364
Target - 2: Rs. 1537
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Technicals - 1) Harmonic Pattern - Cypher
2) Targets set using Fibonacci Retracement
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Bank Nifty prediction Bank Nifty prediction
Banknifty travelled 900+ points on short side
currently on support level 45350 300
reversal expected till FIB 61% level (45900 950 )
from FIB 61% again selling will start
sharp selling below 45350 300
target 45000 44950
GLENMARK PHARMA - 140% RETURNS!!!BUY - GLENMARK PHARMA LTD
CMP - Rs. 449
Target - 1: Rs. 702
Target - 2: Rs. 914
Target - 3: Rs. 1061
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Technicals - 1) Harmonic Patterns - Anti Nen Star, Sea Pony, Leonardo
2) Targets set using Fibonacci Retracements and Gann Angles.
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Comments - Target 2 and 3 will be achieved in the long term.
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MUTHOOTFIN - 45% RETURNS!!!BUY - MUTHOOT FINANCE LTD
CMP - Rs. 981
Target - 1: Rs. 1230
Target - 2: Rs. 1410
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Comment: Maximum Returns - 45%
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Technicals: 1) Bullish Harmonic Pattern
2) Targets set using Fibonacci Retracement
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LSIL - 85% RETURNS!!!BUY - LLOYDS STEEL INDUSTRIES LIMITED
CMP - Rs. 16
Target - 1: Rs. 21
Target - 2: Rs. 24
Target - 3: Rs. 30
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Technicals - 1) Bullish Harmonic Pattern - Sea Horse.
2) Targets set using Fibonacci Retracements and Gann Angles.
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Comment - Target - 3 will be achieved in the long term.
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ONGC - 50% RETURNS!!!BUY - ONGC
CMP - Rs. 148
Target - 1: Rs. 175
Target - 2: Rs. 192
Target - 3: Rs. 220
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Technicals - 1) Bullish Three Drives Harmonic Pattern.
2) Bullish Symmetrical Triangle nearing a breakout.
3) Price targets set using Fibonacci Retracements.
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short tradeexpecting fall and target range
59150 - 58850
stop as per comfort
disclaimer - trade @ own risk
DEVYANI INTERNATIONAL - 25-75% RETURNS!!!BUY - DEVYANI INTERNATIONAL LTD
CMP - Rs. 145
Target - 1: Rs. 164
Target - 2: Rs. 182
Target - 3: Rs. 210
Target - 4: Rs. 257
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Technicals - 1) Bullish Cypher Harmonic Pattern.
2) Targets set using Fibonacci Retracement.
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KALYANKJIL - 40% RETURNS!!!BUY - KALYAN JEWELLERS INDIAN LTD
CMP - Rs. 109
Target - 1: Rs. 123
Target - 2: Rs. 133
Target - 3: Rs. 150
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Technicals - 1) Bullish Snorm Harmonic Pattern.
2) Targets set using Fibonacci Retracements.
3) The stock is at support.
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NIFTY50 - Don't PanicThe blue lines indicate the strong trendlines where the price could take support.
As all can see, the chart has respected most of the Fibonacci levels very well including the strong 1, 1.618 and 2.
My expectation of the short term reversal zone was from the upper half of the 1.618 to 2 zone. Expect some correction next fortnight but it should be a good chance to look for accumulating quality stocks.
