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Weeklymarketsanalysis

Weekly Levels of March 2023 and Steps to find it Many people think we need levels specifically for Intraday Trades. We actually do not need them but just the weekly levels are enough. We just need to access the trend as of the previous day and the support and Resistance market is taking in Intraday to identify the trades. These levels can be calculated below 1. Take the last 3/4/5 number of Days of Close ( No High/Low required). 2. Take the Standard Deviation of the same 3. Get the Range 4. Now take the Fibonacci ratios of your choice to get the Weekly Targets For Example 16-Dec-22 18270.1 23-Dec-22 17824.1 30-Dec-22 18117.05 6-Jan-23 17,864.95 13-Jan-23 17,950.80 20-Jan-23 18,027.30 27-Jan-23 17,607.90 3-Feb-23 17,830.80 10-Feb-23 17,843.35 Excel STDEV(All last 9 days) comes to 192.66 So BUY can be 0.236*192.6+17843 ,Buy Target 1 can be 0.5*192.6+17843 SELL can be 17843-0.236*192.66,Sell Target 1 can be 17843-0.5*192.6 In the real world, this can be little too simple to use directly as the Standard Deviation alone may not suffice to get the range. Based on VIX, and ATR the number of days for Standard Deviation should dynamically change keeping past history in mind which can be done using Artificial Intelligence modeling using the number of times the price touches the level numbers basically the frequency of historical 1 min data of price. See the Data on using the Historical Frequency of data when mapped along with dynamic standard deviation give the following results. I have last 19 weeks of data if some one wants to validate them 27-Feb 3-Mar 6-Mar 10-Mar 13-Mar 17-Mar 20-Mar 24-Mar 27-Mar 31-Mar
NSE:NIFTY
by AstroAnalytica
4
BAJAJ HOLDING : BREAK OUT ON WEEKLY CHARTBajaj Holding and Investment , India Based Investment and Holding Company which focus on income from dividends, interest and gains through investment held. The stock is in uptrend on daily and weekly time frame and currently was in retracement move. The move seems to be over now as the stock is stuck in a range and forming a PENNANT PATTERN. We may see breakout any time. Break out may lead to a new 52 weeks High. The Fundamentals of Company are strong with a Market Cap of Rs, 67,345 Cr and YOY stock yield of 15.76 %. Analysis on Weekly Chart : The technical indicators at current level are as under : CMP : 6094.90 MA20 : 6038.13 MA50 : 6027.74 MA200 : 5975.53 RSI : 62.97 crossing over MACD (12,26) : 14.020 ADX (14) : 33.12 ( Directional Strength - In range ) ATR (14) : 44.65 ( Highly Volatile ) Volume is Far below from the mean value, no buyers seen yet, however the stock is waiting for them resulting into break out. The stock regain its upward trend from 4541.30 and as per Elliot wave theory , we may see the third wave in this breakout. Be prepared for the breakout in a or two days and hold for target 3 or a new 52 week High.
BSE:BAJAJHLDNGLong
by chakraveer1104