Weekly chart Cup formation based breakout out with huge volumes. Target 880 + 0.5 (27) = 1035. Stop 800. Aggressive investors can buy 50% now and 50% on any retracement. Conservative investors can look for a possible retracement towards 900 levels. However chances of missing out prevail.
1st lag- hike from $1000 to $3000 mark followed by 50% retracement as shown in chart. retraced level $1900 2nd lag- from $1900 to $4900 which was again followed by 50% retracement. retraced level $3100 current lag from $4900 to $6590 but their is a negative convergence(see chart) which i believe can be the start of the corrective phase in coming days.
a perfect bullish butterfly is formed a long trade can be initiated on 2nd green candle when it breaks above the first green candle with a stoploss of low of 1st green candle. target based on Fibonacci target 1: 38.2% retracement target 2 : 61.8% retracement.
Although, trade is for theta decay, it could be used for holding a long position also. For theta decay, short Mothersumi Aug 300PE (LTP=0.50) for conservative setup and short Mothersumi Aug 306.65PE (LTP=1.10) for aggressive setup. But prefer aggressive setup only when it breaches 23.6% retracement, otherwise it could retrace from there Exit at expiry for...
BEARISH BUTTERFLY in EICHER MOTORS . First target till 0.382 retracement, Second target till 0.618 retracement.
Although, trade is for theta decay, it could be used for holding a long position also. For theta decay, short Mothersumi Aug 300PE (LTP=0.50)for conservative setup and short Mothersumi Aug 306.65PE (LTP=1.10) for aggressive setup. But prefer aggressive setup only when it breaches 23.6% retracement, otherwise it could retrace from there Exit at expiry for...
Detailed Analysis plotted in Chart. Combination of HARMONIC & Fib Retracement. Take Support from @ 548+ Level in WAVE - 3 Count it is GOLDEN RATIO of Fib Retracement i.e 1.618 Level. TGT: Watch Fib Levels mentioned in the Chart.
Price seems to have found nice support near 370-380 zones on the weekly charts. Last week's rise seems to be an indication of buying interest at support. Once the levels of 430 is crossed on the charts, a short term move to 480-500 seems possible. Will consider for Long next week on a small retracement. SL below low of last week is a bit steep for my liking....
EICHERMOTORS - CMP 4680 Looks like it is headed for 4300 levels on the 4th wave down.. larger 3rd is still in play..but after the retracement..
Nifty can take a retracement.. as the 26k touched and expecting profit booking..
Market structure based resistence support for Nifty..expecting to continue the up move with minor retracements.. overall bullish ..
Fibonacci Retracement.. Prices close above 50 day Moving avg(Weekly Basis) RSI > 50 **Promotor Increasing Stake .. Target : 405 SL : 365 (Subsequent Targets as per FIB retacement with trailing SL)
Trade the lines & see pull backs & retracements Extension levels are important for next target retracements levels are important for supports
Electrosteel Casting (Electroclast) CMP 129 Flag breakout on weekly chart... Best buy near 120-122 on retracement.. SL below 105 DCB
Stock has fallen very sharply and now giving a retracement.. Now it should test the resistance level i.e. 164 then confirm the Break Down or Break Out But it should test 164 before.. Entry now Target 164
The Retracements help you with everything you really need to understand and follow. The setups are very clear and the Likely Targets are given to you all via retracements both to the upside and the downside.
Good retracement...... Now I can wait for 4660-70 level or above 4750 to enter ..