The recent breakout from the short term squeeze has almost reached its expected targets around 17700 for the week - Tradebulls Securities
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The recent breakout from the short term squeeze has almost reached its expected targets around 17700 for the week. While the flag formation initial targets are placed in the zone of 17840-17990. Despite being hovering within the overbought zone the index further signs of incremental strength as its RSI breached above its previous swing high while ADX continues to trend higher without any signs of exhaustion. Ideally the expansion & a possible continuation pattern / flag formation targets should be met on time. Breach below 17170 would distort the short term momentum while the base seems elevated towards 17380. Pattern targets on the higher side remains progressing higher towards 18000 (Upper end of rising Channel) which remain valid until 17170 holds for the coming weeks ahead.
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