Nifty confirms double bottom - but is it enough ?
confirmed Double bottom formation as it broke above 8274 levels on Intraday basis. . It is currently facing resistance at 8290 levels which is the downward trendline resistance. A close above 8300 would be a positive sign for the Index
Also note , MACD histogram and RSI indicators are showing postive divergence which is a Bullish sign.
Any break above 8300 would attract high volume buying in the future index . Analysis is done on NSE spot index. Target price would be 8500 in the futures market
Also note , MACD histogram and RSI indicators are showing postive divergence which is a Bullish sign.
Any break above 8300 would attract high volume buying in the future index . Analysis is done on NSE spot index. Target price would be 8500 in the futures market
Trade active
Closed above 8300 and 8400 hurdle achieved.Trade closed: target reached
Target achieved closed at 8602 *Sweet*
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.