#Nifty weekly charts worth watching. Looking at the larger picture #Nifty completed nearly 200% gains by testing 15100 this year itself considering lows of 7500. And as per weekly charts it completed 261% retracement of the whole fall from 12430-7526.
If we trust Fibonacci levels, and believe 15430 to be the interim top, then 23.6% retracement falls near 13564 as...
Nifty Daily Chart
Post Market at 18.49 ist
A swing top has been formed as lower high and lower low has been formed with bearish candlestick.
The last swing bottom was at 14984.
The swing bottom of 14984 becomes a support which can be tested in near term.
As a result of the swing top, Nifty will have to cross and close above the swing top high of 15430 to continue...
Crude Oil MCX
The breakout above 3975 was witnessed.
The breakout implication was for rise to 1.618% retracement level 4104.
The price has crossed to high 4278.
The 2.618% retracement is at 4312.
The channel upper line is around the 4312-4350.
Traders long and holding the same can revise up the stop loss to 4180.
Book profits at higher range of 4312 or above.
Support is at 15065.
Long Legged Doji candle with large upper shadow suggest resistance and supply at higher levels.
Further rise can continue if sustains abvoe 15264.
Traders long and holding the same can revise up and maintain the stop loss at 15065.
On fall and close below 15065 can lead to a retracement of the rise from 13666 to 15263.
The earlier breakout...
this is in continuation of the earlier post
as we can see a strong support and trendline support at the entry i am going bullish on the trade my stoploss is the dotted line
fab retracement level added strength to my analysis my target is next fab retracement level and the further one ie 38.2 %n and 23.6% thats all for now will update later
Resistance is at 1.219-1.256
It is also the supply zone.
Recent peak of 1.235 was formed and reacted
towards the 23.6% retracement of the
rise from 1.063 to 1.235.
Support is at 1.192.
Further correction is below 1.192
to test 38.2% retracement or below.
It looks to be long term
(a)(b)(c) structure.
A (c) structure may have opened up.
Correction can be ii of (c)...
Db Corp has broken out of its post crash consolidation by clearly crossing the resistence line at 89 with fairly high volumes.
As long as the stock stays above 90, we can expect higher levels in the short term.
The 50 % Fibonacci price retracement level comes to 102 odd. This matches a short term price resistance level on the chart at 104.
Otoh, the 78.6 %...
#BankNifty is a perpetual short with a objective target of 28150 i.e. 38.2% retracement of the rally which started in the first week of October. It completed 23.6% retracement and bounced from 29959 levels. Seems like major correction is still pending and looking at the banking stocks seems like BankNifty may wipe out another 2000 point gains in next 1-2 months....
Reading Weekly Chart doesn't show many points in recent history to derive levels.
While multi year resistance , 200, was taken out two weeks back, the volume was historic high.
Price went from 200 to 300 in just 2 weeks, and third week saw retracement of 30-35%.
If retracement become deep till 50%, then it coincide with 3 year old history of 2018 weekly...
Midterm forecast:
While the price is above the support 14.5030, beginning of uptrend is expected.
We make sure when the resistance at 16.3405 breaks.
If the support at 14.5030 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 16.315 on 2020-06-10 and the...
@ 50% Retracement level currently...if broken , may go down to 61.8% retracement (which is also the support trendline of the rising channel) & then resume upward movement based on price action development at 61.8 level(bounce @ this level will rally while breakdown of support will drag down)
Current Option data indicates Resistance @ 1800 & support @ 1600
Midterm forecast:
While the price is above the support 0.00006278 , beginning of uptrend is expected.
We make sure when the resistance at 0.00015500 breaks.
If the support at 0.00006278 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 0.00012217 on...
Titan moving in a upwards channel took a halt
after haing a pullback, sustaining above 1520 now which is also 23.6 retracement level
If the levels hold, it may kiss theprevious high 1620 again.
break out from 1620 will continue the bull run.
One may go long here at CMP 1530 with SL of previous day's low 1500.
falling below 1495 will lead towards fall to 38.2%...
Hi Friends,
Bank Nifty Future has closed below one support 31734.55 in one hour time frame .
Momentum showing continuation however we can see retracement before further downside.
Retracement needed to cool off in lower time frame .
31393 will work as resistance.
The technical chart highlights the significant retracement faced by Litecoin price levels forcing it to test the baseline of the retracement table. The levels did have a positive bounceback but currently facing resistance at 0.5fib level. A positive breakout in the form of candle closing above the resistance line can be a confirmed bullish indication for the...
-stock has just started to gain movement
-a close above 978 on dialy chart simply opens a target towards 1045-1135
-have a look on daily chart/weekly chart given below
-we are now trading above the 38.2% retracement on weekly chart
-50% retracement is the next logcial target but look at the chart closely
-rectangle formation which lasted for 1 year on weekly...
The technical chart of ADA highlights the gradual positive momentum built by the price levels which is followed by significant retracement after reaching the critical resistance zone of $0.35. The retracement ended up after the price levels touched the critical support area of $0.20 on the downside which helped to revive the positive momentum forming a rising...
