Trendline Broken - JIO Fin Service Ltd - Swing Trade Opportunity
After dropping to 202.8, JIOFIN has started a strong upward move. The second move did not fall below the first move's starting point. The third move was particularly strong, reaching 261.8% of the first move, based on Fibonacci calculations. The price completed the fourth move at 307, which is exactly 50% of the third move.
The upward trend is expected to continue if the price breaks through the current downward slope. However, if it meets strong resistance at the top of the range, there is a chance of a triangle pattern forming on the daily chart. The 337 level will be a significant challenge for buyers to overcome.
In an alternative view, the price reached 337.95 and is now beginning a new move. If it stays above the recent low, the new move might signal a fresh rally. If the price breaks above 338, traders can aim for targets of 360, 383, and over 405. However, if the price falls below 307, the whole pattern will need to be re-evaluated.
#JioFin #intradaytrading #INTRADAY #SwingTrading #OptionsTrading #nifty50 #IPOAlert #Multibagger #StocksToBuy #stockstowatch #StocksToBuy #stockmarketsindia #MultiBagger #Multiyear #Investing #Nifty #Finnifty
The upward trend is expected to continue if the price breaks through the current downward slope. However, if it meets strong resistance at the top of the range, there is a chance of a triangle pattern forming on the daily chart. The 337 level will be a significant challenge for buyers to overcome.
In an alternative view, the price reached 337.95 and is now beginning a new move. If it stays above the recent low, the new move might signal a fresh rally. If the price breaks above 338, traders can aim for targets of 360, 383, and over 405. However, if the price falls below 307, the whole pattern will need to be re-evaluated.
#JioFin #intradaytrading #INTRADAY #SwingTrading #OptionsTrading #nifty50 #IPOAlert #Multibagger #StocksToBuy #stockstowatch #StocksToBuy #stockmarketsindia #MultiBagger #Multiyear #Investing #Nifty #Finnifty
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