NIFTY PSE PRICE ACTION ANALYSIS. A MULTIYEAR BREAKOUT?
Nifty PSE is currently trading at the multiyear strong supply zone which has been tested 3 times since June 2018 but PSE failed to break.
We can see a breakout in the daily timeframe's trendline as pointed on the chart. Currently, NIfty PSE is 2.6% away from the top of the supply zone. If this supply zone is broken, we can see momentum in PSE stocks.
XABCD bearish crab pattern terminal bar price is placed at 4388, where we could book profits and exit.
This process can take months but we will be ready to buy PSE stocks on breakouts.
This is just for educational purposes.
We can see a breakout in the daily timeframe's trendline as pointed on the chart. Currently, NIfty PSE is 2.6% away from the top of the supply zone. If this supply zone is broken, we can see momentum in PSE stocks.
XABCD bearish crab pattern terminal bar price is placed at 4388, where we could book profits and exit.
This process can take months but we will be ready to buy PSE stocks on breakouts.
This is just for educational purposes.
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