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Deepak Nitrite Ltd's (DEEPAKN) technical analysisDeepak Nitrite Ltd's (DEEPAKN) technical analysis shows daily price movements. Here's a summary of the key insights: Price Action and Trend: The stock price is consolidating within a triangular pattern, suggesting a possible breakout or breakdown in the future. A strong support level is evident near ₹2,454.60. Resistance is marked at multiple levels, with a highlighted "Strong Resistance Zone" around ₹3,023 to ₹3,150. Fibonacci Levels: Fibonacci retracement levels are drawn from a previous significant swing low to high: 0.5 Level: ₹3,023.50 (a key resistance level). 0.618 Level: ₹3,157.75 (another potential resistance zone). Targets: Target 1: ₹3,150.95 (based on Fibonacci 0.618 level). Target 2: ₹3,594.70 (prior high or 1 Fibonacci level). Target 3: ₹4,271.95 (extension at 1.618 Fibonacci level). Strong Resistance Zone: The shaded region indicates a historically strong resistance zone, where the price has struggled to break above in the past. Outlook: If the price breaks above the resistance zone, it could aim for Target 1 and potentially higher targets. A breakdown below the triangle's lower trendline or ₹2,454.60 could lead to a bearish scenario.
NSE:DEEPAKNTRLong
by The90sTraderOfficial
Stock Analysis Report: Aurobindo Pharma Ltd.Overview: The chart presents a technical analysis of Aurobindo Pharma Ltd. on a daily timeframe. The stock shows a recovery pattern with a visible RSI divergence, indicating a potential bullish reversal. Key Observations: 1.RSI Divergence: A bullish divergence is identified as the price made lower lows while the RSI formed higher lows, signaling waning bearish momentum and the likelihood of an upward move. 2.Critical Support Levels: Immediate support is marked at ₹1,273.35, corresponding to the 200-day moving average. A strong base exists at ₹1,199.40 and ₹1,101.55, which acted as previous demand zones. 3.Potential Resistance Zones: Initial resistance levels are observed at ₹1,310.80 and ₹1,346.60. Major resistance is seen at ₹1,403.25 and ₹1,450.35, where the stock could face selling pressure. 4.Buying Strategy: Enter long positions only if the price stabilizes above ₹1,273.35, confirming support. Watch for a breakout above ₹1,310.80 for momentum trades targeting higher resistance levels. 5.Volume Analysis: Increased volume on recent upward moves supports the bullish sentiment. Monitor volume patterns for confirmation of breakouts or trend reversals. Conclusion: Aurobindo Pharma shows signs of a potential bullish reversal. Traders should closely observe the ₹1,273.35 support level and enter only upon confirmation. Targets are placed at ₹1,310.80, ₹1,346.60, and beyond. Implement proper risk management to account for potential volatility.
NSE:AUROPHARMALong
by AngshumanSaikia
Nifty Breakout Confirmation- Ready to hit 25,647 !!Nifty 50: Outlook for next week and feb-25 After analyzing the index’s movement from August to December 2024, Nifty 50 has exhibited two key patterns: 1. Head & Shoulders: • Rally from 24,887 to ATH 26,277 (Sep 9–26). • Breakdown after completing the right shoulder on Oct 21, leading to a 1,500-point fall to 23,291 on Nov 22. 2. Inverse Head & Shoulders: • Formation began on Oct 23, with the head completed on Nov 21 and a neckline formed by Nov 26. • On Dec 4, the right shoulder completed, followed by a breakout above 24,463. The index consolidated for a week between Dec 4–13, strengthening the breakout signal. Outlook With strong confirmation of a bullish reversal above last week close, supported by FIIs inflows and favorable macroeconomic data (CPI/IIP), It is highly likely that Nifty 50 is likely to hit 25,647 by December 23, 2024. If the breakout doesn’t happen then we can see a consolidation and retest on last week levels failing which will lead to a breakdown which can push Nifty to 23,000 levels by Februrary 2025 Disclaimer: I am not SEBI-registered. This analysis is for educational and study purposes only. Any trade taken based on this view is solely at your own risk and is not a recommendation.
NSE:NIFTYLong
by chandakpulkit
Asian Paints Trading Strategy for 16th December 2024Asian Paints Trading Strategy Key Levels: Buy Above: 2422 (on the high of the candle that closes above 2422 on a 5-minute chart) Sell Below: 2391 (on the low of the candle that closes below 2391 on a 5-minute chart) Targets: Upside Target: 2460 Downside Target: 2360 Strategy Details: Buy Signal: Enter a buy position above the high of the candle that closes above 2422 on a 5-minute time frame. Sell Signal: Enter a sell position below the low of the candle that closes below 2391 on a 5-minute time frame. Uptrend Confirmation: Asian Paints is likely to resume an uptrend if the price closes above 2470 on a daily closing basis. Additional Tips: Monitoring: Continuously monitor the 5-minute chart for clear buy or sell signals. Risk Management: Always use a stop-loss to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact Asian Paints. Disclaimer: I am not SEBI registered. This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.
NSE:ASIANPAINT
by ramkkyy
Analysis of the Cummins India Ltd. (CUMMINS)Analysis of the Cummins India Ltd. (CUMMINS) Chart: Key Observations: Resistance and Breakout Zone: The chart highlights a significant resistance level at ₹3,600–₹3,620, which the stock is currently testing. A downtrend line (dotted) also converges near this zone, making it a critical level to watch. A breakout above this trendline would confirm a bullish move. Support Level: The ₹3,262 level acts as a strong horizontal support zone. The stock has tested this level multiple times, indicating solid buying interest at this level. Targets Identified: Target 1: ₹3,883.75 — This is the next key resistance zone if the stock breaks out above ₹3,620. Target 2: ₹4,106.45 — This level represents the next significant hurdle based on prior highs. Consolidation Phase: The stock has been consolidating in a range between ₹3,262 and ₹3,620 for the past few months, creating a base for a potential breakout. Targets: Short-term: A breakout above ₹3,620 can lead to a move toward ₹3,883 (Target 1). Sustained momentum beyond ₹3,883 can aim for ₹4,106 (Target 2). Medium-term: If ₹4,106 is breached, the stock could head toward ₹4,200–₹4,300 in a strong bullish scenario. Trading Plan: Entry: Enter on a breakout and sustained close above ₹3,620 with volume confirmation. Stop Loss: Place a stop loss at ₹3,500 (below the breakout zone) to manage risk. Target Levels: Short-term target: ₹3,883. Medium-term target: ₹4,106. Pullback Opportunity: If the stock retraces to ₹3,500–₹3,550 and holds, it could provide a better risk-reward entry point. Conclusion: Cummins India Ltd. is at a critical resistance zone. A confirmed breakout above ₹3,620 can signal the start of a bullish move, with immediate targets of ₹3,883 and ₹4,106. Monitor the price action and volume near the resistance for confirmation.
NSE:CUMMINSIND
by The90sTraderOfficial