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BankofIndia - Short to Long Term Investment BuyBank of India - Technical Analysis Current Price: 129.77 Timeframe: Monthly Chart Key Technical Observations 1. Currently, PSU banks are exhibiting bullish characteristics with positive sector support influencing the stock positively. 2. Cup and Handle Formation - The stock is displaying a gradually developing cup and handle pattern, a classic bullish continuation setup that suggests potential upside momentum. 3. Rising Channel Support - Bank of India is actively trading within and supported by a rising channel, indicating strength in the uptrend structure. 4. Historical Strength Pattern - Over the years since 2021, the stock has been making higher highs and has recently completed a decent retracement, suggesting a bounce-back scenario in formation. 5. RSI Hidden Divergence Confirmation -A hidden divergence has been identified on the RSI indicator, providing additional technical confirmation for trend continuation. Potential Target Levels Based on technical analysis: - 20% Move: 155.40 - 50% Move: 194.70 - 77% Move: 232.00 Risk Management Strict Stoploss: 99.18 on Weekly candle closing basis DISCLOSURE & RISK WARNING: This analysis is provided for educational and informational purposes only and should not be construed as financial advice, investment recommendation, or an offer to buy or sell securities. Past performance is not indicative of future results.
NSE:BANKINDIALong
by earnwhileulearn
1
AdityaBirlaCapital - Investment IdeasAditya Birla Capital Ltd - Technical Analysis Simple Technical Analysis Summary Aditya Birla Capital is breaking out from a multi-year resistance zone with a classic and perfect rounding bottom pattern playing out on the monthly timeframe. Fibonacci targets have been activated! Key Technical Observations 1. Multi-Year Rounding Bottom Pattern The stock has completed a textbook rounding bottom formation spanning multiple years. This is one of the most reliable bullish reversal patterns in technical analysis, indicating a fundamental shift from bearish to bullish sentiment. 2. Breakout from Multi-Year Resistance After years of consolidation and base building, the stock has successfully broken out from a significant resistance zone around ₹255. This breakout signals the potential beginning of a new uptrend cycle. 3. Monthly Timeframe Confirmation The pattern is forming and confirming on the monthly timeframe, which carries significantly more weight than shorter timeframes. Monthly breakouts tend to lead to sustained moves. 4. Fibonacci Extension Framework Multiple Fibonacci extension levels have been identified and activated, providing a clear roadmap for potential price targets based on the measured move from the rounding bottom pattern. #Fibonacci Extension Target Levels Based on the rounding bottom pattern measurement and Fibonacci extensions: - Target 1: 314.20 (1.272 Fibonacci Extension) - Target 2: 345.10 (1.414 Fibonacci Extension) - Target 3: 389.90 (1.618 Fibonacci Extension) - Extended Target: 472.00 (2.0 Fibonacci Extension) Key Support Levels - Immediate Support: 255.00 (Breakout level / Previous resistance turned support) - Secondary Support: 171.86 (0.618 Fibonacci retracement) - Critical Support: 146.17 (0.5 Fibonacci retracement) - Base Support: 42.35 (Rounding bottom base) - Pattern suggests long-term bullish structure - Risk-reward favorable for position building on dips Risk Management: - Maintain stoploss below 255 on monthly closing basis - For aggressive traders: 240 (allowing some wiggle room) - For conservative traders: 235 (below breakout zone) Invalidation Level: - Monthly close below 240 would weaken the bullish structure - Break below 220 would invalidate the immediate bullish setup DISCLOSURE & RISK WARNING: This analysis is provided for educational and informational purposes only and should not be construed as financial advice, investment recommendation, or an offer to buy or sell securities. Past performance is not indicative of future results.
NSE:ABCAPITALLong
by earnwhileulearn
1
IEX - Trading at almost 50% points away from 52 week high NSE:IEX Indian Energy Exchange (IEX) is the premier electricity exchange in India, which facilitates trading of electricity regulated by the Central Electricity Regulatory Commission IEX commands a market share of ~90% in the power exchange market The company has a debt free balance sheet with cash & investments to the tune of ~ |340 crore Found attractive swing trade/ short term investment opportunity with lower risk ratio Buy for the target - 166, 180, 220 Stoploss - 130
NSE:IEXLong
by Haritha05