Analysis of Nifty Energy Weekly Chart by Heikin Ashi and Renko

NSE:CNXENERGY   Nifty Energy Index
The energy index looks bullish on weekly charts as there are no signs of weakness.
As the Heikin Ashi chart has been making green candles also the structure of the chart is good.
The overall feel of the chart is good.
On daily charts the price is on the bottom of parallel channel and on the same pivots.
Renko is also making a green brick.
The stock may face high volatility on lower time frames. But from these levels the downside is less.


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