Nifty 50 is in very important zone & forming triangle kind of pattern in a daily time frame, considering 29 Apr 2022 as a staring point.
From 17 June 2022, the bearish movement is paused and we can see a bullish rally from that date.
Therefore we can see, triangle is squeezing & Now we have to see, who take further movement Bulls or Bears ?
For the bull run Financial Sector should support, as now Auto sector performing well by breaking its previous all time high. Then only we will get whether the recent bullish movement is genuine or not.
Weakness of INR against dollar and increase in inflation are major factors that need to be considered.
Important level are marked in the Chart in the case of breakout or breakdown.
Share your opinion in the Comment section.
NIFTY
From 17 June 2022, the bearish movement is paused and we can see a bullish rally from that date.
Therefore we can see, triangle is squeezing & Now we have to see, who take further movement Bulls or Bears ?
For the bull run Financial Sector should support, as now Auto sector performing well by breaking its previous all time high. Then only we will get whether the recent bullish movement is genuine or not.
Weakness of INR against dollar and increase in inflation are major factors that need to be considered.
Important level are marked in the Chart in the case of breakout or breakdown.
Share your opinion in the Comment section.
NIFTY
Comment:
After the breakout, all 3 Target are achieved.
Trade closed: target reached:
