ANGELONE (GOOD RR)

14 jul

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.

20 ago

Nota

Blasted 12%+ in Intraday.

15 oct

Nota

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