Nifty 50: Consolidation and breakout

Apr 19, 2017

After a nice consolidation today near the lows of the day, the Nifty staged a breakout just before the close. If the Nifty sustains above the lower magenta line, I would not be surprised with a bounce back to the mean or 50% retracement mark. Let's take it forward from there.

Apr 21, 2017

Note

Wow, not bad. Price hit the 50% retracement or the mean and reversed. It also bounced off the lower Magenta line. This range will be in force until we get a breakout above or below the magenta lines....