Positional Swing Trade Analysis:
Time Frame: Hourly
Fibonacci Retracement:
Price is above the golden ratio (61.8% level) at ₹1159.65.
Indicates strong bullish momentum.
RSI (Relative Strength Index):
RSI at 65.60, approaching the overbought zone.
Suggests potential upward pressure.
Middle Band Support:
Price holding support at the middle band (₹1159.60).
Indicates a robust support level.
Trade Strategy:
Consider a buy on dips strategy.
Monitor price movement around the middle band for potential entry points.
keeping an eye on upcoming financial results
Disclaimer:
This analysis is for educational purposes only.
Market conditions can change; perform due diligence before trading.
Consult with a financial advisor for personalized advice.
Time Frame: Hourly
Fibonacci Retracement:
Price is above the golden ratio (61.8% level) at ₹1159.65.
Indicates strong bullish momentum.
RSI (Relative Strength Index):
RSI at 65.60, approaching the overbought zone.
Suggests potential upward pressure.
Middle Band Support:
Price holding support at the middle band (₹1159.60).
Indicates a robust support level.
Trade Strategy:
Consider a buy on dips strategy.
Monitor price movement around the middle band for potential entry points.
keeping an eye on upcoming financial results
Disclaimer:
This analysis is for educational purposes only.
Market conditions can change; perform due diligence before trading.
Consult with a financial advisor for personalized advice.