"Ek Onkar"
Hello Traders,
We see a healthy correction of 30% in Granules. After the phase of correction the price is consolidating around the moving averages of 20, 50, 100 and 200 levels. Now the arrangement of the lines of moving averages indicates the start of a Bull run. Potentially the price has a strength to move 20 to 30% from these levels in 5 to 6 months. But I prefer to trade based on the technical data.
Technical data is as follows:
Chart Type - Heikin Ashi
Time Frame - Weekly
Trade Type - Positional (8 to 10 weeks)
Correction - High 381 / Low 267.75
30% correction from Oct22 to Mar23
Fib Retracement - 61.80% level 334.10 (Important level for breakout)
LTP - 311.10
20ema - 300.80
50ema - 302.49
100ema - 300.77
200ema - 274.69
https://in.tradingview.com/chart/qjJ7rfVh/
Note: The price is trading above all the moving averages.
We have a green bullish HA candle followed by a doji candle at the low of a bearish trend.
Trade Setup:
Wait for the breakout of 334.10
From these levels the price will try to test its recent high of 381.
Potentially the price has a strength to move 20 to 30% from these levels in 5 to 6 months but we follow the trend analysis.
Other updates will be updated in the update section of the post.
This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes.
Thanks
Sardar Simranjit Singh Virdi
Hello Traders,
We see a healthy correction of 30% in Granules. After the phase of correction the price is consolidating around the moving averages of 20, 50, 100 and 200 levels. Now the arrangement of the lines of moving averages indicates the start of a Bull run. Potentially the price has a strength to move 20 to 30% from these levels in 5 to 6 months. But I prefer to trade based on the technical data.
Technical data is as follows:
Chart Type - Heikin Ashi
Time Frame - Weekly
Trade Type - Positional (8 to 10 weeks)
Correction - High 381 / Low 267.75
30% correction from Oct22 to Mar23
Fib Retracement - 61.80% level 334.10 (Important level for breakout)
LTP - 311.10
20ema - 300.80
50ema - 302.49
100ema - 300.77
200ema - 274.69
https://in.tradingview.com/chart/qjJ7rfVh/
Note: The price is trading above all the moving averages.
We have a green bullish HA candle followed by a doji candle at the low of a bearish trend.
Trade Setup:
Wait for the breakout of 334.10
From these levels the price will try to test its recent high of 381.
Potentially the price has a strength to move 20 to 30% from these levels in 5 to 6 months but we follow the trend analysis.
Other updates will be updated in the update section of the post.
This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes.
Thanks
Sardar Simranjit Singh Virdi
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Penafian
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.
Penerbitan berkaitan
Penafian
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.