🔰 Hello my friends, here is the story I see behind this stock:
⭐Fibo: Retraced 50% in the near term swing high and swing low = bullish sign
⭐It's a triangle pattern here also if u see it carefully its kind of A big cup and handle type too :)
⭐Volumes: Today's volumes on 1hr are huge too
⭐Trade is possible only if it closes near the 610-620 LVL range :)
This was on my list too, been recommending to accumulate this from 490, it had to give a breakout which it has, in today's session. The fair value of almost all the Godrej stocks is much higher than they are priced right now, which is why we're seeing some re-rating in these stocks. Be it any reason but they have to re-rate because of the fundamentals they have....
Again, this stock was on my list from past month where it had to be accumulated and it has finally come out of the consolidation zone, it looks likely to give a breakout over 560 this week, make your positions on the long side with the mentioned stop-loss, stock has a lot of potential and can actually surpass it's all time highs!
AFTER THE CONTINIOUS FALL FROM 2017 IOC MAKING HIGHER HIGHS AND HIGHER LOWS FOR THE FIRST TIME IN DAILY AND WEEKLY TIME FRAME CMP 95 TARGET 105 IF BREAKS 105 THEN GOOD FOR LONG TERM INVESTORS .IF BREAKS TRENDLINE ON THE DOWNSIDE THEN BEARISH. PLEASE LET ME KNOW HOW GOOD IS THE ANALYSIS IN COMMENT SECTION.
EURUSD is bullish and its following fib levels from 2-3 weeks. if this current low(re-test) is real then it is just a new higher low go long for new higher high. Its a good time to go bullish. Higher high and lower lows are also forming.
As you see Nifty is making Higher high Higher low.
It Means Market is bullish.
So we will buy on dip sell on high.
14880 is a stong resistance after that 15052 is second resistance.
Caution: if Nifty Give Gap up or Gap down, we will wait for the right time.
You can also give your suggestions in comment box.
1. Bullish RSI Divergence at Daily & 15m timeframe.
2. Formation of ascending triangle , which is considered more towards bullish probability trend.
3. Formation of higher low at daily timeframe.
4. Hourly candle took proper support on 22nd Jan during last 1.5hours at the resistance shown , respecting the long trend line.
5. Price above EMA 200...
AFTER A LONG RALLY ,PRICE STARTED TO CONSOLIDATE FROM MID OF OCTOBER
FORMED A TRIANGLE PATTERN,WITH STRONG SELLERS INITIALLY
PRICE DID NOT BREAK BELOW REF. POINT A, ALSO IT FORMED KIND OF HIGHER LOW FORMATION,INDICATING SELLERS ARE BECOMING WEAK
PRICE HAS TESTED RESISTANCE LEVEL 1148-1150 FOUR TIMES.
NEW RALLY MIGHT START ONCE PRICE BREAKS...
Metropolis has been making a series of higher low while taking support at the trendline. I have marked higher lows for the reference as well.
Upper line of triangle has already been tested 5 times.As per the concept every test makes resistance weaker and weaker.
Levels are plotted on charts.
Keep an eye folks. Cheers and Happy Trading.
Disclaimer:- I am not SEBI...
1 HOUR CHART , PRICE CURRENTLY SUPPORT @ 50 mvwap &,PREVIOUS GAP (1960-1974).
IF PRICE MOVES ABOVE 100 MA WITH VOLUME EXPANSION,THEN NEXT RESISTANCE IS AT 2280 (POSSIBLY FORM A HIGHER HIGH/HIGHER LOW FORMATION)
IF PRICE FALLS BELOW 1916,THEN NEXT SUPPORT IS @ 1795.