bijoy2526

NIFTY closes above 20 dma

Long
NSE:NIFTY   Nifty 50 Index
after my last post nifty had violated the trend line
below which I had suggested if closes below the the trend line selling may be initiated.
Nifty had violated the trend line nifty had even dipped below 11900.
today has crossed above the support 1 and has closed above 20 dma.
it is positive for nifty .
next target may be the previously mentioned trend line .
which is now above the resistance line.

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Comment: here positive stochastic has dipped below over sold.
hence it is also supporting buying.
Comment: stop loss should below support 1

Comments

Great analysis! Thanks for sharing :)
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bijoy2526 Algokart
@Algokart, welcome.
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