SGX Nifty - It's a self explanatory chart. Can see inverted HnS pattern formed. View is bullish once the neckline breakout is confirmed. Possible target and resistance are also marked on the chart.
Comment:
So SGX Nifty gave a neckline breakout on 18th May and retest of the neckline was done on 19th & 20th May. After that it has continuously moved up and the first target marked of 15433 is achieved today. Lets see from here on if we also achieve our final target of 15900 here.
Comment:
SGX Nifty made a high of 15916 today.
Trade closed: target reached:
As mentioned earlier, Sgx Nifty made a high of 15916. As per the price range calculation bar it was coming up to 15933, so we missed it by just 17 points. The price range bar seen above has been mistakenly placed on the upper horizontal line instead of the lower neckline, that's why the target seen there is 16044. So we can consider this as target achieved. 6% plus gains in Nifty.
Comment:
What a rally. Nearly 2000 points :)