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SBI CARDS AND PAYMENT SERVICES

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SBICARD trade ideas

The reason behind Fibonacci retracement in stock marketsWhat is the reason behind Fibonacci retracement in stock markets? As a traders we all know Fibonacci that the Fibonacci ratios, i.e. 61.8%, 38.2%, and 23.6%, finds its application in stock charts. Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices. Whenever the stock moves either upwards or downwards sharply, it usually tends to retrace back before its next move. The reasons that I come across why this uncertain market follows the Fibonacci retracement . The stock market only involves demand and supply, but how this golden ratio-number can govern the price movements, like most of us don’t have the mathematical knowledge. But psychology we all think in a similar way . The two reasons that I come around are: -Stocks do NOT "follow Fibonacci retracement." Stocks move around randomly, together with some bias due to overall unpredictable market conditions. Sometimes these random movements correspond to a recognizable pattern on accident, and when they do people notice and say "look at that, a pattern!" Then they give these patterns fancy names like "Fibonacci retracement," and start looking for them in other places, which they will certainly find if they look hard enough. Sadly, any attempt to use these patterns in advance to predict future price movements fail. Sometimes they match on accident, and just as often they don't. If these patterns worked, then they would quickly be used until they stop working. E.g. If the pattern actually, correctly, showed that the stock price will go up next week, then a whole bunch of people will start buying it THIS week, causing it to go up sooner, and ultimately erasing the pattern. -There are two schools of thought - one that believes in technical analysis, and one that doesn’t. from the view of the latter With many people believing in the significance of the stock price reaching or crossing certain levels - be it fibonacci levels, support lines, crosses of death, or whichever, those people react by buying or selling, thereby creating a self-fullfilling prophecy. If you want to make money in the market, you need to be aware of these reactions, and act accordingly - sometimes even supporting the supposed beliefs. Personally, I think it’s like astrology - great if it helps you, but there is nothing behind it. Again, look forward to the other side explaining you why it’s real, and make up your own mind. Thanks for reading it. Please share your thoughts on things..
NSE:SBICARDEducation
by Trader3301
4
SBI Cards and Payment Services Ltd - Price tells everything.If we look at the price action of the NSE:SBICARD in the past period, we may be able to see the W pattern, so called double bottom pattern and after that NSE:SBICARD went into consolidation mode for about 1 month while getting trapped into a flat bottom triangular pattern. At the current moment, it looks like it has achieved a successful breakout and may soar price higher. One may initiate a long position with a stop loss below 995. Like, Follow & Share for new updates.
NSE:SBICARDLong
by Ravi_Singh_Chauhan