Trade Entry: 106,749 Stop Loss: 105,500 Take Profit 1: 107,500 Take Profit 2: 108,200
Reason for Entry: The price is near a strong daily support level and has bounced off the 61.8% Fibonacci retracement level, indicating a potential upward reversal.
Trade Idea 2: Sell Setup
Trade Entry: 1.04154 Stop Loss: 1.04500 Take Profit 1: 1.03800 Take Profit 2: 1.03500
Reason for Entry: The price is approaching a strong daily resistance level and is near the 78.6% Fibonacci retracement level, suggesting a potential downward correction.
These setups are based on daily Fibonacci retracement levels and strong support resistance zones for high accuracy. Always manage risk
Immediate Resistance: 106,749 (aligned with Fib 0.382 retracement). Strong Sell Zone: 107,577 (confluence of Fib extension and historical resistance). Key Support: 103,797 (critical intraday demand area).
Momentum Indicators:
RSI hovers near neutral, suggesting indecision. MACD shows bearish momentum weakening near 103,797 support.
Price Context:
DCMP (105,207) trades between swing high (109,356) and low (99,462). A break above 106,749 could signal bullish reversal; failure at 103,797 risks retesting 99,462.