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Harmonic Patterns

#Nifty directions and levels for December 16th.Good morning, friends! 🌞 Here are the market directions and levels for December 16th. Market Overview: The global market is showing moderately bearish sentiment (based on the Dow Jones only), while our local market displays bullish sentiment. Today, the market may open with a slightly gap-down start, as the Gift Nifty is indicating a negative 100 points at 8:00 AM. In the previous session, both Nifty and Bank Nifty moved in two directions; however, by the end of the day, they closed with a solid rally. What about today? > As per yesterday's structure, if the market takes a pullback initially, we can expect further continuation with some consolidation. > Additionally, open interest (OI) and the RSI indicator support this outlook. > However, if we look at this from a broader perspective, it seems we are in a range-bound market. > Therefore, until the market breaks the 38% Fibonacci level on the downside, we can consider this a bullish market. However, if it breaks below this 38% level, we should approach it as a range-bound market. This is the basic structure; let’s explain this in the chart. Both Nifty and Bank Nifty share the same structural sentiment. Nifty Current View: The current view suggests that if the market takes a pullback after the gap-down start, we can expect the rally to continue. However, confirmation should be considered from an effective break of the 24797 mark. This is the basic structure. Alternate View: The alternate view suggests that if the market sustains the gap-down and breaks the 24702 mark, it could reach a minimum of 23% to a maximum of 38%. Structurally, it won’t break 38%. However, if it does break, then it will reach the 50% and 78% Fibonacci levels in the recent swing. Simply put, if you find a three-wave structure while it reaches this level, we can expect a bounce back, which indicates a bullish structure. However, if it reaches the 38% level in a straight line, it will likely continue further once it breaks the 38% mark.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for December 16th.Bank Nifty Current View: This also looks like the Nifty sentiment; if the market takes a pullback after the gap-down start, we can expect the rally to continue. However, confirmation should be considered from an effective break of the MSZ mark. This is the basic structure; until this zone is broken, we can expect minor consolidation. Alternate View: The alternate view suggests that if the market sustains the gap-down and breaks the 53450 mark, it could reach a minimum of 23% to a maximum of 38%. Structurally, it won’t break 38%. However, if it does break, then it will reach the 50% and 78% Fibonacci levels in the recent swing. Simply put, if you find a three-wave structure while it reaches this level, we can expect a bounce back, which indicates a bullish structure. However, if it reaches the 38% level in a straight line, it will likely continue further once it breaks the 38% mark.
NSE:BANKNIFTY
by Manickamtraders
$ENA Chart Analysis: Key Insights for Traders🚀 XETR:ENA Chart Analysis: Key Insights for Traders Recent Performance: 🔸 #Ethena has delivered 5x returns in the last 100 days, rewarding early investors significantly. 🔸 Notably, Trump has recently accumulated #ENA , adding momentum. Current Levels: 🔸 If $1.46 breaks, expect a potential rally toward $2-$3. 🔸 The red resistance box has flipped into strong support. Holding above $1 signals a continued bullish trend. ⚠️ Caution: 🔸 Entry at current levels is high risk due to the sharp uptrend. 🔸 Wait for a dip: Ideal re-entry around $0.80-$0.70 if the red trendline breaks down. Strategy: 🔸 Book partial profits if you entered at the dip. 🔸 Stay alert for price action at key levels to capitalize on opportunities. Pro Tip: Watch $1 support and $1.46 resistance closely for next moves.
Long
by CryptoPatel
SYMPHONY LTD ANALYSISFOR LEARNING PURPOSE SYMPHONY LTD - The current price of SYMPHONY LTD is 1349.95 rupees I am going to buy this stock because of the reasons as follows- 1. Its coming out from a good consolidation base 2. It broke a strong resistance zone with great volume and now retesting that level 3. It is showing better relative strength as it stood strong in volatile times 4. The risk and reward is favourable 5. The recent results has been great and it will act as some catalyst 6. The stock has not done much in last few years but it looks like that it can perform better in coming months I will buy it with minimum target of 35-40% and then will trail after that. My SL is at 1177 rupees I will be managing my risk.
NSE:SYMPHONYLong
by Its_Bhushan
1
SUI The flagpole is a crucial part of the flag pattern in technical analysis. It represents a sharp move in price, either up or down, followed by a consolidation phase that forms the "flag" part of the pattern1. Here's a quick breakdown: Flagpole: This is the initial sharp move in price. For a bullish flag, it's an upward move; for a bearish flag, it's a downward move1. Flag: After the flagpole, the price moves sideways in a more narrow range, forming the flag. This consolidation phase is where buyers or sellers take a breather before the next move. Breakout: The breakout occurs when the price moves out of the flag in the direction of the initial flagpole move.
Long
by Faizgazi
Chalet Hotels Ltd - Breakout Setup, Move is ON...#CHALET trading above Resistance of 891 Next Resistance is at 1283 Support is at 727 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CHALETLong
by MandeepSinghKohli
Izmo Limited - Breakout Setup, Move is ON...#IZMO trading above Resistance of 511 Next Resistance is at 915 Support is at 366 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:IZMOLong
by MandeepSinghKohli
Marine Electricals (India) Ltd - Breakout Setup, Move is ON...#MARINE trading above Resistance of 297 Next Resistance is at 506 Support is at 184 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:MARINELong
by MandeepSinghKohli