On 28th Jun 2024, price made 52 Week High at 19+.. Fast forward, one year later (30th June 2025) price is at 7.4 (and we hit the bottom end at 6.3 earlier in June). Can we expect the price to move towards the upper end again by June 2026? Past data will give us the clue
With the Ending Diagonal formation at the lows, some major counts are getting completed and the price is due for a bounce/reversal
Price Action:
On Weekly TF, Price is at the demand zone and gave a strong reversal indication.
On Daily TF, the recent Developments on the Volume front is encouraging
Price managed to close well above 7.2 and is eying to take out 8.56. The confirmation for the long set up will be activated only upon breaking the recent swing high at 10.47. But with the buying momentum seen on this counter, it should break the shackles and move strongly towards the upper end/range.
We have a FVG left at 12 and that could very well be tested sooner or later
Obstacles/Challenges:
200 DEMA is at 8.1 and could act as a resistance for the short term
Price had a one way up move from 6.3 to 7.55 and is due for a pullback/retracement (Overbought on shorter TF).
My Take: Any pullback to 6.5-6.75 could be a great deal to buy with a decent RR. A breakout above 7.55 (possibly 8.7) and then a pullback towards 6.5 is the best preferred set-up
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
With the Ending Diagonal formation at the lows, some major counts are getting completed and the price is due for a bounce/reversal
Price Action:
On Weekly TF, Price is at the demand zone and gave a strong reversal indication.
On Daily TF, the recent Developments on the Volume front is encouraging
Price managed to close well above 7.2 and is eying to take out 8.56. The confirmation for the long set up will be activated only upon breaking the recent swing high at 10.47. But with the buying momentum seen on this counter, it should break the shackles and move strongly towards the upper end/range.
We have a FVG left at 12 and that could very well be tested sooner or later
Obstacles/Challenges:
200 DEMA is at 8.1 and could act as a resistance for the short term
Price had a one way up move from 6.3 to 7.55 and is due for a pullback/retracement (Overbought on shorter TF).
My Take: Any pullback to 6.5-6.75 could be a great deal to buy with a decent RR. A breakout above 7.55 (possibly 8.7) and then a pullback towards 6.5 is the best preferred set-up
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Catatan
Ending Diagonal Breakout Retest done50 EDMA brekout retest done..
Price has broken the Super Trend on the upside..
next level is the 200 DEMA at 8.45
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.