shekharvsingh1

shekharvsingh1

Hello ! The Nifty 50 attempted a recovery today, bouncing from a crucial support zone defined by the Fibonacci channel. Nifty continues to trade below its 20, 50, and 200-day moving averages, reinforcing the broader bearish trend. Key Support Level: A decisive break below 23,500 (today’s low) could trigger a deeper correction toward 23,269, the next Fibonacci...

shekharvsingh1

Technical Highlights: Elliott Wave Analysis: The chart appears to be following an Elliott Wave structure, where Wave 4 correction seems to have concluded near the 61.8% Fibonacci retracement level (~₹590). Wave 5 seems poised to begin, with the potential to push prices significantly higher. Fibonacci Extension Targets for Wave 5: Using the Fibonacci...

shekharvsingh1

CDSL: Poised for New Highs with Strong Support and Bullish Momentum Weekly Technical Analysis of CDSL Stock The CDSL stock is currently showing strong bullish momentum on the weekly chart. After a healthy retracement, it has taken support in the 1705–1715 zone, which aligns with the 1.618 Fibonacci extension level. This level has acted as a solid support base,...

shekharvsingh1

Possible further downside in Nifty 50 The chart seems to display an inverted cup and handle pattern, a bearish formation that often signals a potential downside. The MACD line is crossing below the signal line and approaching the zero line from the positive territory, signaling weakening bullish momentum. The index is currently testing the lower boundary...