Genus Power Infra: Bullish Breakout โ Buy now for higher targets

๐ Technical Analysis:
GENUSPOWER (NSE: GENUSPOWER)
1๏ธโฃ Overview:
๐ Current Market Price (CMP): โน430.15 (+2.26%)
๐๏ธ Date & Time: As of 15:25 (UTC+5:30)
๐น๏ธ Chart Analysis: Daily (1D)
2๏ธโฃ Technical Indicators Overview:
๐ Moving Averages:
๐ข 50-Day EMA: โน399.89, currently acting as a support zone.
๐ต 200-Day EMA: โน332.71, indicating the longer-term trend remains positive.
๐ฆ Volume Profile: Strong demand visible between โน360-โน380, suggesting robust buying interest at lower levels.
๐ MACD: Bullish crossover with the MACD line above the signal line, implying momentum is still positive.
MACD Line: 3.76
Signal Line: 1.04
Histogram: ๐ Positive, indicating rising momentum.
๐ Williams %R (14): At -5.59, signaling overbought conditions, which might result in a short-term pullback.
๐น Stochastic RSI (14, 3): At 100, indicating strong bullish momentum, though caution is advised as overbought zones can precede minor corrections.
๐ฃ Parabolic SAR: Positioned below the price, supporting the ongoing uptrend.
3๏ธโฃ Fibonacci Retracement Levels:
The stock is retracing from the swing high of โน451.55 to the swing low of โน351.05.
๐ 38.2% Retracement: โน399.30 โ Strong support.
๐ 50% Retracement: โน414.05 โ Intermediate resistance.
๐ 61.8% Retracement: โน428.80 โ Currently breached, signaling bullish strength.
๐ 78.6% Retracement: โน442.80 โ Next resistance level to watch.
4๏ธโฃ Rationale for Buy:
๐ Breakout above 61.8% Fibonacci Level: The breach above โน428.80 indicates a potential continuation of the upward move.
๐ฅ Bullish Momentum: MACD crossover, Stochastic RSI in overbought territory, and Parabolic SAR below the price all point to a continuation of the bullish trend.
๐ Volume Surge: Increased volume activity supports the bullish move, suggesting robust buying interest.
๐ฆ Demand Zone: The significant demand between โน360-โน380 acts as a strong base, providing a good risk-reward opportunity for entry.
5๏ธโฃ Recommendation:
๐ Action: Buy
๐ฏ Target 1: โน442.80 (78.6% Fibonacci Level)
๐ฏ Target 2: โน451.55 (Recent Swing High)
๐ Stop Loss: โน414.05 (50% Fibonacci Level) to protect against downside risk.
6๏ธโฃ Risk Management:
๐ฅ Entry Strategy: Consider entering near the current price or on minor pullbacks towards the 61.8% retracement level (โน428.80).
โ๏ธ Risk-to-Reward Ratio: The trade setup offers a favorable risk-to-reward ratio of at least 1:2 based on defined targets and stop-loss levels.
โ ๏ธ Disclaimer:
This analysis is based on technical indicators and market patterns and is intended for educational purposes. Market conditions may change, and this is not investment advice. Please conduct your own research or consult a financial advisor before making trading decisions.
#GenusPower ๐ #TechnicalAnalysis ๐ #StockMarket ๐ #FibonacciLevels ๐ #SwingTrading ๐น #MACD ๐ต #StochasticRSI ๐ #VolumeProfile ๐ฆ #BuyRecommendation ๐ #IndianStocks ๐ฎ๐ณ #NSE ๐ #FinogentSolutions ๐ผ
1๏ธโฃ Overview:
๐ Current Market Price (CMP): โน430.15 (+2.26%)
๐๏ธ Date & Time: As of 15:25 (UTC+5:30)
๐น๏ธ Chart Analysis: Daily (1D)
2๏ธโฃ Technical Indicators Overview:
๐ Moving Averages:
๐ข 50-Day EMA: โน399.89, currently acting as a support zone.
๐ต 200-Day EMA: โน332.71, indicating the longer-term trend remains positive.
๐ฆ Volume Profile: Strong demand visible between โน360-โน380, suggesting robust buying interest at lower levels.
๐ MACD: Bullish crossover with the MACD line above the signal line, implying momentum is still positive.
MACD Line: 3.76
Signal Line: 1.04
Histogram: ๐ Positive, indicating rising momentum.
๐ Williams %R (14): At -5.59, signaling overbought conditions, which might result in a short-term pullback.
๐น Stochastic RSI (14, 3): At 100, indicating strong bullish momentum, though caution is advised as overbought zones can precede minor corrections.
๐ฃ Parabolic SAR: Positioned below the price, supporting the ongoing uptrend.
3๏ธโฃ Fibonacci Retracement Levels:
The stock is retracing from the swing high of โน451.55 to the swing low of โน351.05.
๐ 38.2% Retracement: โน399.30 โ Strong support.
๐ 50% Retracement: โน414.05 โ Intermediate resistance.
๐ 61.8% Retracement: โน428.80 โ Currently breached, signaling bullish strength.
๐ 78.6% Retracement: โน442.80 โ Next resistance level to watch.
4๏ธโฃ Rationale for Buy:
๐ Breakout above 61.8% Fibonacci Level: The breach above โน428.80 indicates a potential continuation of the upward move.
๐ฅ Bullish Momentum: MACD crossover, Stochastic RSI in overbought territory, and Parabolic SAR below the price all point to a continuation of the bullish trend.
๐ Volume Surge: Increased volume activity supports the bullish move, suggesting robust buying interest.
๐ฆ Demand Zone: The significant demand between โน360-โน380 acts as a strong base, providing a good risk-reward opportunity for entry.
5๏ธโฃ Recommendation:
๐ Action: Buy
๐ฏ Target 1: โน442.80 (78.6% Fibonacci Level)
๐ฏ Target 2: โน451.55 (Recent Swing High)
๐ Stop Loss: โน414.05 (50% Fibonacci Level) to protect against downside risk.
6๏ธโฃ Risk Management:
๐ฅ Entry Strategy: Consider entering near the current price or on minor pullbacks towards the 61.8% retracement level (โน428.80).
โ๏ธ Risk-to-Reward Ratio: The trade setup offers a favorable risk-to-reward ratio of at least 1:2 based on defined targets and stop-loss levels.
โ ๏ธ Disclaimer:
This analysis is based on technical indicators and market patterns and is intended for educational purposes. Market conditions may change, and this is not investment advice. Please conduct your own research or consult a financial advisor before making trading decisions.
#GenusPower ๐ #TechnicalAnalysis ๐ #StockMarket ๐ #FibonacciLevels ๐ #SwingTrading ๐น #MACD ๐ต #StochasticRSI ๐ #VolumeProfile ๐ฆ #BuyRecommendation ๐ #IndianStocks ๐ฎ๐ณ #NSE ๐ #FinogentSolutions ๐ผ
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.