Sensex Analysis for Tomorrow 18/10/24Sensex Analysis for Tomorrow 18/10/24
Pls Use Brokers chart for live price updation in Sensex
Yellow Zone is major Resistance Level.
All The important are given with horizontal black line.
Sensexsignal
BSE Sensex Important levels we are likely to see some corrections , I have marked some imp levels based on trend lines , Demand supply and FIb Levels .
Sensex (SENSEX) AnalysisFollow and Boost the post, Thanks.
Based on the 1-hour chart for the S&P BSE Sensex Index, here is the summary and analysis:
Key Levels:
- Current Price: 73,885.60
- Retracement Levels:
- 0.5 Retracement: 75,537.72
- 0.618 Retracement: 75,947.52
- Targets:
- Target 1: 75,936.42
- Target 2: 77,260.70
- Target 3: 79,420.46
Chart Analysis:
1. Retracement Phase: The chart shows the Sensex Index in a retracement phase from a recent high, moving towards lower levels.
2. Support and Resistance Levels: The chart indicates potential support around the 0% retracement level at 73,801.25 and resistance levels at the key Fibonacci retracement levels.
3. Ascending Channel: The index appears to be trading within an ascending channel, indicating a general upward trend despite the current retracement.
Potential Scenarios:
1. Bullish Scenario:
- If the index finds support around the current level (73,801.25), it could start rebounding towards the upper targets.
- The first significant resistance to watch for is the 0.5 retracement level at 75,537.72, followed by the 0.618 retracement level at 75,947.52.
- Breaking above these levels could lead the index towards Target 1 (75,936.42), Target 2 (77,260.70), and eventually Target 3 (79,420.46).
2. Bearish Scenario:
- If the index fails to hold the support around 73,801.25, it might continue to fall towards the lower boundary of the ascending channel.
- Further decline could lead to testing the lower support level around 72,081.92.
Trading Strategy:
1. Watch for Support: Monitor the price action closely around the current level (73,801.25). Look for signs of a reversal or strong buying interest at this level.
2. Buy Position: Consider entering a long position if the index shows a strong bounce from the support level with increasing volume and bullish candlestick patterns.
3. Stop-Loss: Place a stop-loss slightly below the support level at 73,801.25 to manage risk in case of a further decline.
4. Target: Aim for the targets identified (75,936.42, 77,260.70, and 79,420.46) for the long position.
Conclusion:
- The S&P BSE Sensex Index is currently in a retracement phase within an overall ascending trend. The key support level to watch is around 73,801.25. If the index finds support and rebounds, it could move towards the identified targets. Conversely, a break below the support level could lead to further downside. Monitoring the price action and volume around these key levels will be crucial for making informed trading decisions.
Ultratech heading down .?Is Ultratech heading down after touching all time high. ?
This stock has be consolidating from past 2-3 months and now finally gave the breakdown with good volume , But wait is it sustainable.?
10000 now looks like strong resistance for this stock and looks like it will further go downwards till 9316 and 9040 as per the fibs retracement level . But over all stock is very bullish
Disclaimer : This post is meant for education purpose do your own research before risking your account
how many agree this was my observation kindly give ur thoughts as what is your take on this formation
SENSEX GRAPHThis graph is of the Sensex, in which there is analysis from the daily frame for the last few days, in which it is known that it was falling down for a few days.Now after getting support, it will return to its full supply zone by next month.
SENSEX : An overviewSensex broke the uptrend line and broke down and is currently hanging between Support and resistance. Breaking the support box (Red rectangle) may cause a sell-off Towards the lower Targets.
SENSEX is Falling 01/02/2021as we can see
we have bearish Divergence with MACD Signal and MACD Histogram and it is at the end of a bullish trend which is happening post corona Pandemic and it can be interpreted as trend reversal and Distribution time
now it can be the time for some correction and retraces
we have analyzed the daily Timeframe and used Price Action Strategy to find the accumulation zones
these areas are also having confluences with Fibonacci retracement levels which are good areas to target or enter
we may have a small bullish Spike but the overall scenario is bearish from now onwards
