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Nifty 50 Index
Long

Nifty Bullish Pin Bar, big breakout after long consolidation?

By PromodSshrivastava
Nifty made a bullish hammer pattern and closed above 50/100/200EMA. Even though the close is in the 17200 area which is the place of consolidation for past 6-7 sessions, the setup is now quite bullish. There was net buying by FII/DII of 360cr. PCR is 0.8 indicates lesser fear of more downside. VIX has settled lower at 22.61. So will we finally witness a breakout tomorrow and move towards 17670? what do you think?
Chart PatternsTechnical IndicatorsNIFTYTrend Analysis
PromodSshrivastava

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