The index to witness a breakout towards 16530 zone which can be participated with a stop below 15630 - Tradebulls
Nifty
Ongoing contraction /consolidation looks mature for a breakout on the upper side. So far the index has respected the bounds of the pitchfork tool. The recent swings from its mid-range saw multiple reversal formations viz Hammer, Harami & Doji etc which reconfirmed the strength in tools indicative support range. As seen in the below panel the RSI has already breached above its declining channel trend already & complimenting the expected price action to evolve soon. So expect the index to witness a breakout towards 16530 zone which can be participated with a stop below 15630.
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
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
More News
Post-market comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker