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Fibonacci Retracement

Nifty50 positional analysis Nifty the benchmark is currently placed at 38.2% retracement along with 20 ema on the weekly chart! The 17500-17550 zone has multiple moving average clusters . the trend is still strongly in favor of bulls the index is placed at trendline support too. the major concern: the open = high candle formed due to poor infy results is a pain point. talking about levels: Support for the index comes at 17550 followed by 17220-200 while resistance is placed at 17870 and 18130 zones with earning season on, expect a surprise on the cards!!
NSE:NIFTY
by pratik2358
DCX systems showing early signs of retracement.Today's stock for analysis is DCXINDIA. This stock was recently listed nearly 50% premium over the IPO issue price of 207. Since its listing, the stock is in continuous downtrend as seen on chart. However, from past few days, we can see a retracement coming from levels of 150 in the stock. RSI positive divergence is also visible. 175-178 is a strong supply zone above which the stock can move quickly towards 193-195 levels which is its 38.2% retracement of downtrend. Study the chart and kindly trade as per your own analysis.
NSE:DCXINDIALong
by chartistamey
1D TATAPOWER - Short Position1. Bearish Engulfing Pattern formed at Supply and Demand Zone. 2. Additionlly 50% Fibonacci Retracement Level is added. 3. Round Number 200.00 is mentioned and that will be the entry point below 5-10 points. 4. EMA 89 got confluence on that pattern which confirms A++ trade. 5. Half of your stock will be sold at take profit level and move that stop loss to breakeven. And leave the remaining stocks to free rally. 6. TP and SP level clearly mentioned in the chart window.
NSE:TATAPOWERShort
by Pupathi
GUJARAT GAS LTDThis is no doubt a fundamentally good company trading at its low while its peers are trading a their higher levels. So it can be strongly assumed that this stock may perform in the upcoming time. Reasons for which GUJARAT GAS seems to be bullish on charts at least for short term: 1. Trend line support is been taken since the beginning of the month at Golden Ratio of the previous up trend. 2. A Bullish candlestick pattern has been formed. 3. The time cycle of 29 days (plotted as vertical dashed lines & rectangular boxes) indicates a reversal. 4. Risk Reward ratio is good. The target seems to be at 504-520 with a minor hurdle at 486. SL remains to be 451 on closing basis. CHART & ANALYSIS ADARSH KUMAR DEY
NSE:GUJGASLTDLong
by AdarshDey
1
NIFTY OUTLOOK (DOWNSIDE BY 10TH TO 15TH MAY)After forming a Bullish Wolfe Wave, Nifty has been rallying fantastically. It has successfully given a break out of the 2-4 TL. And with ups and down I expect the rally to continue till 10 May to 15th May 2023. I am not sure about the price levels but the utmost high that is achievable by NIFTY seems to be 18605 (18605 has been derived by both Price action and Fibonacci Retracement) The reason is purely because of Time cycle. As I have posted earlier the exact downside reversal of Nifty starting 2nd December 2022, this current chart is just a follow up of the previous chart. Nifty follows a 55 Days Time cycle for downside reversal where it tops out and falls by minimum 5.5%. All the time cycles are plotted in “Red Vertical Lines” and the tops are enclosed in a “Rectangular Structure”. PREVIOUSLY DOWNSIDE SEEN IN 55 DAYS TIME CYCLE: 12TH JAN 2022 4TH APRIL 2022 13TH SEPT 2022 2ND DEC 2022 20TH FEB 2023 The next time cycle of 55 Days lies in between 10th -15th May 2023. I expect Nifty may start reversing downside in between the above mentioned dates. I am not sure about the price levels, it may be anywhere between above 18100 to 18605. Incase of any confirmation for the price, I will surely update the same in update idea section of this chart. Nifty may consolidate or give a 1% to 1.5% percent fall before the dates but I expect that it would be only to create a new high. The link to the previous study for the downside reversal starting 2nd December 2023 is given below: CHART & ANALYSIS Adarsh Dey
NSE:NIFTY
by AdarshDey
10
Fibonacci levels plot levels to watch out for around the $300 The $315 and $300 levels of resistance and support respectively have been important on the lower timeframes. Over the past 48 hours, BNB has declined from the local highs at $316.3 to trade at $308.5, at the time of writing. On the 6-hour chart, the RSI was unable to climb above neutral 50, showing the persistence of the bears. Over the past week, the trading volume was low as well. This came at a time when BNB retested the $300 level. With Bitcoin facing rejection from beneath the $27.8k resistance on Monday as well, it appeared likely that more losses were in store for the crypto market this week. If Binance Coin were to slip beneath the $295-$300 area, the Fibonacci extension levels highlighted some key areas to watch out for. The 50% and 61.8% extension levels would likely be tested upon a move beneath $295, with the 23.6% level at $289 also expected to serve as minor support. Meanwhile, a move above $316.3 would signify a break in the bearish market structure. Thereafter, buyers could begin to exert their will, but this was the less likely scenario.
by tradewith_ritik
nifty pull back complete?Nifty is on correction path on a uptrend for the last 2 trading sessions. from the last low of 16828 in march 23, the 1st phase of rally was till 17842 ( rally of about 1000 points) we saw a pull back there after till 17553 (about 300 points). if we plot fib retracement then this form about the 0.618 level of the rally. the next phase of rally was from 17553 to 18459( again about 1000 points). in the last 2 days the correction has happened till 18115 (about 320 points) this again is approx 0.618 of the last rally. further global indices are all in green at the time of writing this (DAX, FTSE, NYSE, DoJI), which gives a belief that correction is over and next phase of rally if commencing could take nifty to ATM of over 19000. Having said that any fall below 18030, could see Nifty going into a fall till 17830 and further fall if any will signal a trend revresal. This is my outlook for nifty in coming days and is not a trade recommendation. Please do you own analysis before taking any positions
NSE:NIFTY
by Trade_with_Raghu
1