Index witnessed a Doji formation near its breakout zone - Tradebulls
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/04/7e29d67ac736d4744a4e157bb03138f5.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty
Index witnessed a Doji formation near its breakout zone; ideally such a formation after consecutive occurrence of Inside bars is a sign of caution. With most of its trend strength indicators displaying renewed strength the probability of a sustained breakout above 15040 looks likely. The ongoing oscillation could see a major breakout as it closed above 14960 & a follow through move above 15040 in todays session could unlock firm directional momentum. There is no major sign of weakness as most of the momentum indicators remain flat. Confluence zone of the two channels seems to have worked well as the recent rebound looked breaking above the ongoing declining channel formation. A breach above 15040 from hereon could push the index towards 15200 in no time while the major level to track on the upside rests around 15700 ( upper end of the broader channel). As a firm directional momentum play seems to be in action & the odds favouring the bulls, its ideal to retain the buy on declines strategy for investors & positional traders
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.tradebulls.in/Static/Disclaimer.aspx
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hydrogen.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Honda India Foundation (HIF) signs MOU with Marriot Group of Hotels.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/accel57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee Dollar.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)