Technical Analysis of CESC Ltd Bullish after Short Retracement
Technical Analysis of CESC Ltd
Overview of the Stock- The provided chart depicts the 1-hour timeframe of CESC Ltd stock on the National Stock Exchange (NSE) of India. The analysis is based on the following technical indicators:
Candlesticks: These represent price action over a specific period.
Moving Average (EMA): A type of average that gives more weight to recent prices.
Fibonacci Retracement Levels: These are used to identify potential support and resistance levels based on the previous price movement.
Buy Zones: These are areas where the analyst suggests buying the stock.
Technical Analysis based on Price Action:- The stock price has been trending downwards, but it seems to be finding support near the 183.58 level (EMA 200). A break below this support level could signal further downside.
Fibonacci Retracement Levels:- The 0.618 retracement level at 196.49 is acting as a resistance. If the price breaks above this level, it could indicate a bullish reversal. The 0.786 retracement level at 192.80 is another potential resistance.
Buy Zones: With the help of technical analysis, we identified two buy zones:
Buy Zone 1 between 174 to 187: This is a wider range where buying is suggested.
Buy Zone 2 Above 174.53: This is a more specific level where buying is recommended.
Overall Outlook:- The stock is currently in a downtrend. A break above the 0.618 Fibonacci retracement level could signal a potential reversal. The buy zones identified might offer buying opportunities if the price reaches those levels.
Key Points to Consider
Risk Management: Always use appropriate risk management techniques when trading, such as stop-loss orders.
Fundamental Analysis: While technical analysis can provide insights, it's also essential to consider fundamental factors like company earnings, industry trends, and economic indicators.
Market Conditions: The broader market environment can significantly impact individual stocks. Be aware of overall market trends.
Note: This analysis is based on the information available in the technical analysis. Market conditions can change rapidly, and it's always advisable to stay updated with the latest news and developments.
Disclaimer: This analysis is based solely on the provided chart and does not constitute financial advice. Always conduct your own research or consult with a financial advisor before making investment decisions. Please do your own research before buying this stock as I am not SEBI registered person and we are not responsible for your loss. This analysis is my personal opinion based on technical analysis just for education purposes.
Thanks for your support as always
Overview of the Stock- The provided chart depicts the 1-hour timeframe of CESC Ltd stock on the National Stock Exchange (NSE) of India. The analysis is based on the following technical indicators:
Candlesticks: These represent price action over a specific period.
Moving Average (EMA): A type of average that gives more weight to recent prices.
Fibonacci Retracement Levels: These are used to identify potential support and resistance levels based on the previous price movement.
Buy Zones: These are areas where the analyst suggests buying the stock.
Technical Analysis based on Price Action:- The stock price has been trending downwards, but it seems to be finding support near the 183.58 level (EMA 200). A break below this support level could signal further downside.
Fibonacci Retracement Levels:- The 0.618 retracement level at 196.49 is acting as a resistance. If the price breaks above this level, it could indicate a bullish reversal. The 0.786 retracement level at 192.80 is another potential resistance.
Buy Zones: With the help of technical analysis, we identified two buy zones:
Buy Zone 1 between 174 to 187: This is a wider range where buying is suggested.
Buy Zone 2 Above 174.53: This is a more specific level where buying is recommended.
Overall Outlook:- The stock is currently in a downtrend. A break above the 0.618 Fibonacci retracement level could signal a potential reversal. The buy zones identified might offer buying opportunities if the price reaches those levels.
Key Points to Consider
Risk Management: Always use appropriate risk management techniques when trading, such as stop-loss orders.
Fundamental Analysis: While technical analysis can provide insights, it's also essential to consider fundamental factors like company earnings, industry trends, and economic indicators.
Market Conditions: The broader market environment can significantly impact individual stocks. Be aware of overall market trends.
Note: This analysis is based on the information available in the technical analysis. Market conditions can change rapidly, and it's always advisable to stay updated with the latest news and developments.
Disclaimer: This analysis is based solely on the provided chart and does not constitute financial advice. Always conduct your own research or consult with a financial advisor before making investment decisions. Please do your own research before buying this stock as I am not SEBI registered person and we are not responsible for your loss. This analysis is my personal opinion based on technical analysis just for education purposes.
Thanks for your support as always
Disclaimer
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