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Goldenratio

Nifty 50-October 2024 viewI feel it is time to be little cautious. Post 4th June(the election results day), we have seen a good rally in market from 21300 to 26250 today which is almost 25% and that too without a significant pull back or correction. The rally since past couple of weeks is mainly due to large caps. There is no reason to be extremely bearish but as per fib retracement, we are near golden ratio of 61.8%. We might see a pullback or consolidation here before next move towards 27000+ levels. Important levels to look at is 26000 below which we should expect 25800, 25500 and 25350. Midsmall caps might see a bigger pullback than Nifty hence follow risk management in your swing positions. Nifty metal is looking quite bullish and is sector to keep in watchlist. Please note that I am not expecting a crash or big correction and hence please don't overreact and do panic selling.
NSE:NIFTY
by chartistamey
4
#ETH/USDT Rebounds Strongly: Golden Ratio at Play#ETH/USDT has formed a double bottom pattern and is currently bouncing from the golden ratio (0.618 Fibonacci retracement level), indicating a strong support level. The next significant resistance level is around $3350. If Ethereum manages to break above this resistance, we could see a further upward movement towards the $4000 mark. The double bottom pattern is a bullish reversal pattern, suggesting that the price could continue to rise after a period of consolidation or decline. The bounce from the golden ratio adds to the bullish case, indicating that buyers are stepping in at key technical levels. However, it's essential to monitor the price action closely, as a failure to break above the $3350 resistance could lead to a retest of the support levels. Traders should also consider other factors such as market sentiment, news events, and overall market conditions when making trading decisions.
BITSTAMP:ETHUSD
by crypto_vulture_signals
GOODYEAR | Daily Chart | Golden ratio pullbackChart analysis: Pattern: Symmetric triangle pattern BO happened and re-testing of BO is happening. Breakout: BO of 1.5 years trend line and support is taken at 0.618 which is Golden Ratio . Volume: Volume action is clearly visible near breakout zone. Trade setup: Entry price: Close of 1400 price break candle. Stop loss: Below 1320. Target 1: 1512.5 Target 2: 1623.8 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
BSE:GOODYEARLong
by SanjogY
Happiest Minds - Multibagger stocks BreakoutHappiest Minds is one of the fundamentally strong multi-bagger stocks, which has corrected nearly 50% from its all-time high of 1581. It is an IT company, ranked 4 in IT Services which works on disruptive technologies such as artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, etc. Currently, it is trading at an attractive price. All possible targets are mentioned on the stock. If everything remains the same, it may go till 2000 in a couple of years also. It is about to break out from its downtrend. keep this stock under your radar. Any price between 900-940 is a good price to enter. This is not a trade recommendation. Do your own analysis before investing. Please share your views on this stock in the comment.
NSE:HAPPSTMNDSLong
by SWING2TRADER
3
BSE - Accumulation zone at 520BSE - Accumulation zone at 520 1. Sad thing is it falls down the primary trend 2. Weekly open and closing below the primary trend feels panic. 3. Golden ratio at 520 level, Its's an investor accumulation zone. 4. Based on the market trend it will bounce back at 520 or it will fall below and will form a new pattern. 5. If it falls below 520 then the stock recovery will take some more time. Note: 1. I’m not a SEBI Registered advisor, my views are personal and for educational purposes only. 2. Always check with your financial advisor and take the trade as per your risk/reward ratio. 3. Follow me for more patterns and like, and share so that we feel it is helpful to many and share more patterns...
NSE:BSELong
by ravi15684
BIOCON ( Ready for Marathon)BIOCON: Few key points to note: - Seems like Wave 4 is completed and Wave 5th have been initiated. -Respected the Golden Ratio of the prior trend. - RSI Bullish Divergence (Double Bottom) - Support taken at 200 Weekly Moving Average & EMA - Bullish Candlestick pattern formed at Official Level (Golden Ratio) & Moving Averages. I expect upside reversal in BIOCON from this point. However the trade gets activated once it closes above 350 and the expected target is 421-544-596.Please note, this is a weekly Time Frame chart, it would definitely take time to see the targets being achieved. So have patience if you venture with this stock with an appropriate SL. CHART & ANALYSIS – ADARSH DEY
NSE:BIOCON
by AdarshDey
2
The reason behind Fibonacci retracement in stock marketsWhat is the reason behind Fibonacci retracement in stock markets? As a traders we all know Fibonacci that the Fibonacci ratios, i.e. 61.8%, 38.2%, and 23.6%, finds its application in stock charts. Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices. Whenever the stock moves either upwards or downwards sharply, it usually tends to retrace back before its next move. The reasons that I come across why this uncertain market follows the Fibonacci retracement . The stock market only involves demand and supply, but how this golden ratio-number can govern the price movements, like most of us don’t have the mathematical knowledge. But psychology we all think in a similar way . The two reasons that I come around are: -Stocks do NOT "follow Fibonacci retracement." Stocks move around randomly, together with some bias due to overall unpredictable market conditions. Sometimes these random movements correspond to a recognizable pattern on accident, and when they do people notice and say "look at that, a pattern!" Then they give these patterns fancy names like "Fibonacci retracement," and start looking for them in other places, which they will certainly find if they look hard enough. Sadly, any attempt to use these patterns in advance to predict future price movements fail. Sometimes they match on accident, and just as often they don't. If these patterns worked, then they would quickly be used until they stop working. E.g. If the pattern actually, correctly, showed that the stock price will go up next week, then a whole bunch of people will start buying it THIS week, causing it to go up sooner, and ultimately erasing the pattern. -There are two schools of thought - one that believes in technical analysis, and one that doesn’t. from the view of the latter With many people believing in the significance of the stock price reaching or crossing certain levels - be it fibonacci levels, support lines, crosses of death, or whichever, those people react by buying or selling, thereby creating a self-fullfilling prophecy. If you want to make money in the market, you need to be aware of these reactions, and act accordingly - sometimes even supporting the supposed beliefs. Personally, I think it’s like astrology - great if it helps you, but there is nothing behind it. Again, look forward to the other side explaining you why it’s real, and make up your own mind. Thanks for reading it. Please share your thoughts on things..
NSE:SBICARDEducation
by Trader3301
4
phi (0.618), Golden Ratio(Spiral), Fibonacci ratio, NIFTY.We created a parallel channel by looking at market pivots that have lines (a), (b),....(e). If look at this chart and drawing minutely, then you will found that where are maximum points(dots). That is called gravitation to attract the price value. In the future, while the pullback price tries to test this line in the coming days. Fibonacci ratio, Many traders know this , but few know how to apply it . three market ranges (1,2,3) which range defines the 50 percent division at 6926.8. Let's check the shortest range (3): Look at "a" and "b" another range (2) Look at "c" and "d" . Let's check the whole picture. The range of applied for the fib. retracement if perfect known after applying everything above and confirmed. I am going to remove everything and just keep a 50% division of range. Now check out this both range of "a" and "b" marked.
NSE:NIFTY
by Trade-Technique
54