Hi, This is Rohit Tomar.
Nifty is showing very good strength since mid of Aug-21 and Bulls have taken-up Nifty from 16000 to 17900 a 1900 points rally. Nifty is moving in a channel pattern since the breakout after covid-19, please refer the chart.
Presently Nifty is at the lower trend line of the channel which is a good buying zone, if it sustains. If break-down happen then it may correct up to 17250 levels.
Please be watchful for next move to 18000 which may come in shorter period approx. 25 to 35 days from now.
Nifty is showing very good strength since mid of Aug-21 and Bulls have taken-up Nifty from 16000 to 17900 a 1900 points rally. Nifty is moving in a channel pattern since the breakout after covid-19, please refer the chart.
Presently Nifty is at the lower trend line of the channel which is a good buying zone, if it sustains. If break-down happen then it may correct up to 17250 levels.
Please be watchful for next move to 18000 which may come in shorter period approx. 25 to 35 days from now.
Comment:
It was corrected up to level of 17452 as indicated. Further it crossed 18000 levels within 15 days (from 28-Sep-21 to 11-Oct-21) instead of 25 days.