indiacharts

Nifty starts a Rally

Long
NSE:NIFTY   Nifty 50 Index
Nifty witnessed its daily momentum going back to buy mode. The hourly chart above shows an attempt to break out on the upside of this triangle that would be successful once we close above 14770. an impulsive move upwards has been presumed from the low of wave E and apart from any small dip should continue to drive us higher. The only thing still missing are volumes, which is definitely needed for a successful breakout.
Comment: Nifty Broke out of the triangle is likely to complete today. Great show against market sentiment
Comment: Closing above the breakout point would confirm the breakout. then we are off to all-time highs again.

Comments

hats off to you ! . you commented well in advance of bottoming at 14151,
Reply
indiacharts pankaj564
@pankaj564, Thanks
Reply