CMP is at 54.80
As fibo shows that CMP is at 0.382 , in case of Uptrend we can target R1: 60.45( which is .50 )& R2 : 65.80 ( which is .618).
In case of Downtrend , we can target S1 49.4 ( Strong Support based on previous trend) & S2 47.95( which is .236 ).
MACD is also supporting the downtrend in case of market towards downside with Divergence of '-1.35'
-Breaking out of a falling wedge.
-Breakout of high volume.
-Cleared the 0.23 fibonacci retracement which was acting as resistance.
-MACD crossing over 0.
-Should go to all time highs again.
Not an investment advice. Do your own due diligence.
Monthly and weekly are bullish. Reached all time high and is retracing. Have reached a daily support as can be seen from the ichimoku chart. If price moves above 73 and closes above previous candles then it can be a possible next swing giving a minimum target to previous highs. Awaiting further confirmation before taking a position.
A mild Divergence is showing in FSL. it may retrace to 56 near the 50Ma support and continue its ascent.
RSI is near 80 ,the last 3 candles are showing wicks which is sign of slowing volume.
waiting for the 50 ma support.