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Weeklyanalysis

Tata Steel Downward Parallel Channel breakout on Weekly chartElliot Wave Analysis of Tata Steel with Fibonacci retracements. Currently in wave A of parallel channel correction or about to end Wave 3 of Impulse start of wave 4. Daily chart shows shooting start on 11th Aug and on 13th Aug resisting 430 levels. Tata Steel Downward Parallel Channel breakout on Weekly chart. Testing Trend line drawn from wave 1 start and wave 5 start. Safe Trade 1 - Short on close below 409 on 15 min chart SL 415 target 405 401 Risky Positional trade Short all bounces towards 420-435 SL 443 Target Fib levels for downside 0.236 Fib level = 388 0.382 Fib level = 361 (most likely to come) 0.500 Fib level = 340 Disclaimer: Calculated and plotted values may differ little with actual stock movement. This investment/trade may not be suitable for all investors/traders. Do your own study or ask your financial advisors before investing/trading.
NSE:TATASTEELShort
by Niftydirection
9
weekly overview on WIPRO:At every peak the stock has made a new high. May be this will take months to form peak 5. After fall the stock move up rapidly to its peak and near the peak there is price rotation. The formation of new peak is becoming narrow. Making a higher high and higher low. An uptrend is created by higher swing highs and higher swing lows. Pullbacks create the higher lows. Therefore, a reversal of the uptrend doesn't occur until the price makes a lower low on the time frame the trader is watching.
NSE:WIPRO
by Trade-Technique
34
Dhanuka Agritech | Will Monsoon help?Price action of Dhanuka Agritech exhibits a sustained weakness in Weekly time frame. The stock has consistently formed lowers and lower highs until recently. By analyzing the recent price action, we could see that the two relatively new lows formed are at the same level indicating that bears might be losing steam. In fact previous weekly candle was huge thereby breaching a falling trendline. Assuming that the recent recovery will continue, the stock might be en route towards 475-490 levels. There we could also spot 23% of Fibonacci falls. If the stock happens the breakout from that level, we can agree on the possible Double bottom which only accelerates the stock further upwards. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:DHANUKA
by AkhilSuryaFS
PEL | Weekly SupportPEL seems to respond to a critical Weekly support. Risk-Reward favors a long trade. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:PEL
by AkhilSuryaFS