1 - breakout 2nd time over 17500 - 17600, which is the neckline
2 - > 60, beginning to show strength
3 - Overturn on again and quick crossover of line over Signal Line, indicating +ive divergence of moving averages.
4. High spurt seen and highlighted in chart. Recovery from 17000 level on the same day. Show lower price rejection
Coming to takeaways:
1. Basis breakout, TGT 1st TGT should be 18600 in approx 30 session to 19700 maximum.
2. SL should be Low of highest day seen recently which is 17000 and it is also the 1/2 of neckline.
1. Consult your advisor before making any calls. This blog is for educational and back testing purpose only.