INDO-NATIONAL LTD (NSE: NIPPONIND) 🚀
Weekly Chart Analysis – Potential Swing Opportunity!
1. Structure & Setup
The stock has completed a major correction in the zone of 50%-78.6% Fibonacci retracement of Wave A (408.80–458.50).
Wave B or 2 seems to be in place, setting up for a potential bullish move.
Previous resistance and correction occurred from the extended retracement zone (113%-127% fib).
2. Key Levels & Targets
First Swing Target: 50% fib retracement of Wave B or 2 at ₹574.90–625.00 🥇
Second Swing Target: 78.6% fib retracement of Wave B or 2 at ₹761.40 🥈
Support: 78.6% fib retracement of Wave A at ₹408.80
3. Risk Management
STOP LOSS: On weekly or daily close below the correction zone (failing Wave B or 2), i.e., below ₹408.80 🚨
4. Observations & Strategy
1️⃣ Chances of a bullish reversal are high from the current zone, supported by fib retracement confluence.
2️⃣ Watch for a breakout above ₹500 for confirmation of momentum.
3️⃣ Risk/Reward is favorable for positional swing traders.
Summary:
A strong setup for a multi-month swing! Monitor price action near support and trail your stop as the move unfolds. 📈
Like & Follow for more setups! 👍✨
#NIPPONIND #SwingTrade #TechnicalAnalysis #Fibonacci #TradingView #Stocks #NSE
Weekly Chart Analysis – Potential Swing Opportunity!
1. Structure & Setup
The stock has completed a major correction in the zone of 50%-78.6% Fibonacci retracement of Wave A (408.80–458.50).
Wave B or 2 seems to be in place, setting up for a potential bullish move.
Previous resistance and correction occurred from the extended retracement zone (113%-127% fib).
2. Key Levels & Targets
First Swing Target: 50% fib retracement of Wave B or 2 at ₹574.90–625.00 🥇
Second Swing Target: 78.6% fib retracement of Wave B or 2 at ₹761.40 🥈
Support: 78.6% fib retracement of Wave A at ₹408.80
3. Risk Management
STOP LOSS: On weekly or daily close below the correction zone (failing Wave B or 2), i.e., below ₹408.80 🚨
4. Observations & Strategy
1️⃣ Chances of a bullish reversal are high from the current zone, supported by fib retracement confluence.
2️⃣ Watch for a breakout above ₹500 for confirmation of momentum.
3️⃣ Risk/Reward is favorable for positional swing traders.
Summary:
A strong setup for a multi-month swing! Monitor price action near support and trail your stop as the move unfolds. 📈
Like & Follow for more setups! 👍✨
#NIPPONIND #SwingTrade #TechnicalAnalysis #Fibonacci #TradingView #Stocks #NSE
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.