DragonFly-Trading

DragonFly-Trading

The Nifty is currently finding support at 23,342, aligning with both the short-term and long-term trendlines. the support level, short-term trendline, and long-term trendline—are coinciding, which did drive the market upward. However, the long-term trendline is not entirely reliable and lacks strength. We can better judge its significance if the Nifty retests and...

DragonFly-Trading

NSE:BANKNIFTY has currently formed a head-and-shoulders pattern, indicating potential bearish sentiment. The asset has been showing weakness over the past few days. Additionally, a diamond pattern formed inside the right shoulder, which has also broken down. The 49650 level is a strong support line and serves as the neckline of the head-and-shoulders pattern. The...

DragonFly-Trading

We previously discussed the formation of an inverse head-and-shoulders pattern, which typically signals an uptrend. However, today the pattern broke down, and Nifty is once again falling. There is a trendline in place, and there is a chance that Nifty could bounce off this trendline. Currently, Nifty is moving towards the next support level at 23,335. Traders...

DragonFly-Trading

We've already discussed that Nifty is currently in a bearish mode. For Nifty to gain momentum, it needs to form a specific pattern and break out of that pattern, which could indicate an uptrend. Currently, Nifty is forming an inverse head and shoulders pattern, which typically indicates a potential uptrend. If it breaks out of this pattern, we can expect a...

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Zydu LIFE currently at very good support, There is good volume around that levels. and crossed VAH. also there is a trendline. it might bounce from that level.

DragonFly-Trading Updated 

Hindcopper is breaking through strong resistance levels, and if a daily candle closes above the 348 mark, a potential upward momentum could be anticipated. The trendline has also been broken, further supporting a bullish outlook.

DragonFly-Trading Updated 

DBCORP has recently found support at a well-established trendline, with multiple candles confirming this level. An upward movement towards the 373 resistance can be anticipated. Entry is possible with a minimal stop loss for risk management.

DragonFly-Trading

Apollo Tyres: Technical and Fundamental Analysis Technical Analysis Long-Term Trendline A strong 2-year trendline has been established This trendline has provided support 7 times on the daily chart Current Market Situation The market is currently attempting to take support at this trendline If support holds, it could indicate continued upward...

DragonFly-Trading

Trendline Breakout: Tata Steel has recently broken out of its trendline. Current Position: The stock is currently sitting at a key support zone. Potential Reversal: It's crucial to wait for a solid bounce from this support level to confirm a reversal. Alternative Trendline: There is another potential trendline below the current support where the stock may also...

DragonFly-Trading

Previous Bullish View (4th October) Strong candle closed on the trendline Nifty moved up 200 points post-closure Current Scenario Reversal occurred Closed below the trendline Trendline currently acting as resistance Bullish Scenario Requirements Nifty needs to make a strong close above the trendline Key Points for Traders Watch for a convincing break and...

DragonFly-Trading

Following a 4% decline, the Nifty has found support at a significant trendline. This technical setup suggests the potential for a substantial upward movement. Given the recent pullback and the current support level, the index may be poised for a strong rebound, potentially offering considerable returns to investors.

DragonFly-Trading

IRCTC stock has shown resilience at key support levels. With the recent market correction, it may present a potential entry point for long-term investors. Some analysts project the stock could reach ₹1430 in the coming year, representing a significant potential upside. Fundamental factors to consider for IRCTC stock: Business model: IRCTC has a monopoly on...

DragonFly-Trading

Tata Steel has shown a significant technical breakout, successfully crossing a strong resistance level. The stock has already made an impressive 7% move, indicating strong momentum. While the current price action suggests potential for further upside, with a possible target of 184, investors should consider their time horizons: Long-term perspective: Entry at...

DragonFly-Trading

Wipro currently took support at strong support of 529 levels . and forming small pattern , can buy now or wait for retracement.

DragonFly-Trading Updated 

NMDC currently oversold, may be pullback from this levels, good support levels for long term entry.or you can wait trendline to break.

DragonFly-Trading

Maruti currently broke strong resistance, good entry for long term.

DragonFly-Trading

Manapuram currently at good support , can entry in this support or entry on trendline , or even wait for trendline to broke.

DragonFly-Trading

nifty support and resistance levels, no upcoming resistance for nifty. drew some trendline not that so strong.