Tradermonk
Long

Nifty confirms double bottom - but is it enough ?

NSE:NIFTY   Nifty 50 Index
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
Trade active: Closed above 8300 and 8400 hurdle achieved.
Trade closed: target reached: Target achieved closed at 8602 *Sweet*

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