Nifty continues to trend higher comfortably without any signs of exhaustion or reversal sign - Tradebulls Securities
Nifty
Nifty continues to trend higher comfortably without any signs of exhaustion or reversal sign. Both its trend strengthindicatorscontinue to display strength with RSI displaying a positive crossover while ADX is trending higher. The recent reboundfrom18060reconfirmed the support base as the price action looks evolving into a ‘Broadening Pattern’ formation. Pattern targets onthehigher side remains progressing higher towards 18730 (Upper end of Broadening) which remains valid until 18200holdsonaclosing basis. Option data for the week indicates strong bound at Traders should continue to hold their momentumlongsuntil 18200 holds while trend stop still remains at 18060. Expect the ongoing momentum to continue towards 18650-18730
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