Angel One - Educational Post- Best to wait and let it settle
Diupdate
How to find Support /Resistance of a stock when the stock tanks
From the tool bar, draw Fibonnaci retracement at the All time high candle and draw it down to the next few available support levels.
As you draw, the retracement lines should touch on the underlying Horizontal Fibonacci levels (23.6%, 38.2%, 50%, 61.8%, etc.)
In this example, the Stock highest candle was 3815, while 1940 was the multi year base where the stock had a breakout. As a investor looking to enter in to the stock, would be looking for a entry point, and through fibonacci retracement one can watch out whether the stock bounces from the support/resistance line.
I have been tracking this stock and the stock now looks to be taking support again back to the earlier base i.e. 1940 levels.
The other reason to use this stock as reference is because other stocks from the industry has reported excellent numbers and we all are looking for a good entry point for better risk/reward.
I would recommend safe entry above 2058 one it touches 1940.
Disclaimer : Fibonacci retracements are a tool, not a guarantee.
Use them in conjunction with other analysis methods.
From the tool bar, draw Fibonnaci retracement at the All time high candle and draw it down to the next few available support levels.
As you draw, the retracement lines should touch on the underlying Horizontal Fibonacci levels (23.6%, 38.2%, 50%, 61.8%, etc.)
In this example, the Stock highest candle was 3815, while 1940 was the multi year base where the stock had a breakout. As a investor looking to enter in to the stock, would be looking for a entry point, and through fibonacci retracement one can watch out whether the stock bounces from the support/resistance line.
I have been tracking this stock and the stock now looks to be taking support again back to the earlier base i.e. 1940 levels.
The other reason to use this stock as reference is because other stocks from the industry has reported excellent numbers and we all are looking for a good entry point for better risk/reward.
I would recommend safe entry above 2058 one it touches 1940.
Disclaimer : Fibonacci retracements are a tool, not a guarantee.
Use them in conjunction with other analysis methods.
Trade aktif
Decent Results from Angel one. The stock may move upwards from here on.ANGEL ONE:
Q1 CONS NET PROFIT 2.9B RUPEES VS 2.21B (YOY)
Q1 REVENUE 14B RUPEES VS 8.07B (YOY)
Trade aktif
Stock Retraced from the Buying point mentioned on the chart. Let's see if the stock will move up from here or not. Disclaimer :Educational content.
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