Seems some bullish indications from Benchmark index Nifty some how it is a bit strange for me when the result season is going to over for this quarter and it gives a breakout on the time of profit taking and shuffling of portfolios by smart money on quarterly basis but on the basis of technical I must have to share mine view with community if I found something interesting, this idea almost prepared yesterday but did not able to publish yesterday that is why sharing now, so as you can see on chart it breaks a sloping (falling) trendline resistance of triangle so what has happened before that breakout and what can happen after sharing below 👇👇👇👇
PATTREN BEFORE BREAKOUT (Lower Highs and Lower Lows)
BREAKOUT RETEST (So after breakout of resistance it retested it's breakout trendline too)
CONSOLIDATION AFTER BREAKOUT
BROKE HORIZONTAL RESISTANCE TOO
VIEW WITH RSI
ENTRY (my plan) TARGET AND STOPLOSS-- MUST IF YOU ARE GIVING A LONG TAG FOR ANY IDEA
I am not in a hurry if get it at my wanted price I will take otherwise I will let it go because there mine risk to reward ratio will favor me if it is a breakout..
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk
𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
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GAP UP TODAY?
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GAP UP FOLLOWING GLOBAL SENTIMENTS
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THIS BREAKOUT WILL LEAD NIFTY, IF HAPPEN
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WAITING FOR GLOBAL CUES
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WEAK GLOBAL CUES CAN CHECK SUPPORT ZONE
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POSSIBLY A MILDLY BEARISH SESSION TODAY, CAN CHECK SUPPORT
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IF FED WILL HIKE RATES MY PLAN COULD WORK
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PRICE TRY TO GO UP, AFTER YESTERDAY FALL
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WHAT A BULLISH MOVE
Trade closed: target reached
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DID MENTIONED TARGET 1 (R1) TODAY
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FRESH VIEW NOW 18191 AND 18071 WILL ACT AS A GOOD SUPPORTS