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NIFTY 50 : FORECAST FOR Q2 FY'23 AS ON 29.04.2023Before any discussion , I like to share few facts about mighty Nifty : 1. Nifty is in downtrend since 1 Dec 2022 from level @ 18860 2. After 3.5 months of downfall , finally Nifty found support level @ 16850 3. The support level was retested numerous time unless Rectangular Channel break our was seen on 31.03.2023 4. Since 31.03.2023 , Nifty was in uptrend till level @ 17790. 5. Then came the retracement phase of 0.618 times and dipped upto the level @ 17560 6. Regained the uptrend , however the break out of the SWING OF PREVIOUS break down was yet to be broken out. 7. This break out actually confirms a strong reversal I applied The Elliott Wave Theory Channel Trend and Fibonacci Extension , to predict the future of Nifty and came to conclusion that : i) Fibonacci Extension : The Trend will rise up to level 1.618 times of previous stretch i.e. @ 18430 ii) Elliott Wave Theory : The trend has entered the 3rd wave and it will be 1.6 times of the first wave . With calculation , the next level comes out to be 18430 iii) Next Important level is 18430 iv) Retracement is predicted after this level of 18430 up to level 18064 ( The resistance recently broken out ) v) After again applying the three theories post second retracement phase a) Fibonacci Extension : The Trend will rise up to level 1.414 times of previous stretch i.e. @ 18890 b) Elliott Wave Theory : The trend has entered the 5th wave and it is mostly shorter than 3rd and 1.2 times that of third wave . With calculation , the next level comes out to be 18900 c) The Channel Trend , The Next Supply Zone stands @ 18900 Hence , after studying all those facts I have predicted the Nifty Move for in this quarter and displayed it in the graph. One , if agree with me , may plan his/her trade accordingly and do not forget to drop a message and boost my study ,if you agree with me OR NEED MORE CLARIFICATION. Please remember, this analysis is only for education purpose and not trade calls. Please study , do your own analysis and trade at your own risk. Good Luck !!!
NSE:NIFTYLong
by chakraveer1104
AMARAJA BATTERIES :HAR GHAR ME AMARON , HEAT HEAT ALL AROUNDAmara Raja Batteries Limited is an India-based manufacturer of lead-acid storage batteries for industrial and automotive applications in the Indian battery industry. The stock has shown Descending Triangle Breakout today. Breakout in Volume and RSI is also seen. However, to make long term hold position, retesting of the support at 600.10 is recommended. If the stock successfully retested the support , enter the trade at support for Primary Target of 668.75 , thereafter trailing the stock would be the best strategy. This study is only for education purpose. Kindly research before investing at your risk, All the Best !!!
ALong
by chakraveer1104
DIVILAB : A MUCH AWAITED REVERSAL RISK REWARD UPTO 1:13.75Divi's Laboratories Limited is an India-based company, which is engaged in manufacturing and sale of active pharmaceutical ingredients (APIs), intermediates and nutraceutical ingredients with predominance in exports. The stock is in downtrend since Oct 2021 and was moving in a channel. However , we saw channel break out on 13 April 2023 and we see that the level @ 3188.55 has supported the price thereafter and may proved to be next swing to the reversal trend. An opportunity to enter the trade as the risk reward ratio is high due to relatively small Stop Loss . ENTRY @ CMP i.e. 3207 , STOP LOSS @ 3046.20 TARGETS : 3911.80 , 4410.20 , 5420 RISK REWARD RATIO : 1:4.3 TO 1:13.75 We rarely get such opportunity with such a great Risk Reward Ratio. Worth taking this risk and certainly a trade opportunity not to be missed . Please remember that this study is only for education purpose , do your own analysis before trading. Good Luck !!!
NSE:DIVISLABLong
by chakraveer1104
IOC | Ascending Triangle & BREAKOUT Swing Trading opportunity ! 30min Chart Alert !!! --Buy above =92.30 --Target = 95.40 and even more --Stop-loss = 91.05 --Lot Size = 5700 --R:R = 1.84 --Expected Profit = 16,000 ₹ per lot ( 4.50% ) Technical Reasons to trade :- 🧢 1) ioc has formed ascsending triangle 2) Volume is good at the time of breakout 3) multitime frame is bullish 4) target is based on resistance zone 5) retracement can happen Guys check out the related ideas as well, it will worked really well ! 🙏FOLLOW for more ! 👍LIKE if think is useful ! ✍COMMENT Below your view !
NSE:IOCLong
by ReviveTraders