TradingView
peace_lover
Jul 25, 2023 7:14 PM

NIFTY WILL SOON GO UPWARDS DUE TO THREE DRIVES PATTERN Long

NSE:NIFTY15
Nifty 50 IndexNSE

Description

⋅
TECHNICAL ANALYSIS :

  1. THREE DRIVES HARMONIC PATTERN -

    Nifty has formed a strong descending harmonic pattern (Three Drives) which clearly indicates reversal happening very soon

  2. DOJI PATTERN -

    Nifty has also formed a nice doji pattern which indicates a reversal of the ongoing trend

  3. HAMMER PATTERN -

    Also a hammer pattern is formed which again indicates an upcoming reversal of the trend

  4. OSCILLATOR INDICATOR -

    It is also indicating overbought zone as average smoothing line has touched the 80 level, hence more momentum in the upwards direction

Trade closed manually

⋅
As ATR has turned bearish from bullish hence profits should be booked made after the reversal of the trend
Trend AnalysisCandlestick AnalysisThree Drivesreversal
More