做多

ANGELONE (GOOD RR)

Descriptions-

Let me explain first what I saw in this chart. After that I will explain the logic behind my Entry, SL & targets.

As you see here the time frame which I used to do my analysis is Weekly.

Stock first time listed at price 275 & after few weeks price made a low of 222.20 & a high of 408.

Price stuck 29 weeks in between these highs & lows.

On 3rd May a breakout will happen with a strong volume candle. (As you see, price formed Open = Low i.e., 371)

After a breakout candle, we got the followup candle too, which confirms that the breakout is genuine.

The price creates a top on 25th April 2022 (i.e., 2022)

Here we clearly see that there is an impulsive move from bottom to top. (i.e., 286.35 & 2022)

And we all know that "Every impulse had a correction".

So the price correct to the Golden ratio which is 0.5 - 0.618 of fib level.

Here we clearly see that price bounced 4 times from the Golden ratio zone & also creates a Trendline resistance from the top.

Then price broke the trendline resistance & also gave a breakout at ATH with a volume candle & price cloed above it. And after that price gave a straight upward move & made a high of 3896.

By using a Trend-Based Fib Extension tool we can find our targets. To calculate this we need 3 points which is low & high of an impulse move & third point is the low of the correction move which is just after the impulse move.

We clearly see price moved to 1.618 level i.e., 3807.30 So, this is our target level.

All these things had happened in the past. Now we sync all the past calculations with the present.

You found that there is an impulse move i.e., from 999 to 3896.

And we already know that Every impulse had a correction.

We clearly saw that the price had already bounced 3-times from our Golden ratio zone & also follow a Trendline resistance.

If we talk about finding the targets. We have to use a Trend-Based Fib extension tool as we did earlier.

So, we have all the 3-points to find the targets.

Bottom & top of an Impuse move. i.e., 999 & 3896

The third point is the low of the correction of an impulse move. i.e., 2129.70
(According to the current market conditions, the low is 2129.70)

When we point out all the 3-points, we get the 1.618 level at 6817.05 which is our final target.

The idea got invalid if the price closes below 2000.

So this is the low risk high reward setup.

o you may consider long positions at current Golden ratio zone / Demand zone.

Targets are- 3900, 5000, 6800

Note: If any uncertainty happens in the market & price went to the strongest demand zone, then you may also consider long positions from there.

I am not a SEBI Registered. This analysis is purely for educational purposes only.
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If you gain some learning from this chart, then please like this post for more reach & also do comment if you have any questions regarding this.

注释

Blasted 12%+ in Intraday.

注释

Blasted 14%+ in Intraday.
Hope now you understand the logic.