Nifty Auto showed immense strength bouncing off 200 EMA line and now opening with a gap up and holding above the B level of XABCD bearish butterfly pattern drawn on the chart.
The price is near the supply zone but after taking so much beating, it may not reverse again but takes a pullback and continues the rally in my opinion. Or might even fail from the supply zone, so keep a watch.
The price is near the supply zone but after taking so much beating, it may not reverse again but takes a pullback and continues the rally in my opinion. Or might even fail from the supply zone, so keep a watch.
Trade closed: target reached:
beyond expectations!
