vidursaini
Long

NIFTY - CUP AND HANDLE BREAKOUT

NSE:NIFTY   Nifty 50 Index
Two Cup and Handle breakouts simulataneously.
This could be the final win Bulls were looking for. We could be heading towards a bull run now.
Although I do expect a minor pullback (profit booking) tomorrow.
Jun 11
Comment: What a turnaround in the last 45 minutes. The game got turned on its head. The resistance at 10845 was respected.
Tomorrow will be a critical day.
I'm neutral.

Comments

Not here to criticize, but it is not cup and handle.
+1 Reply
With almost 100% certainty I can say this is not a cup and handle.
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what looks like a hurdle is the negetive divergence on the RSI indicator.
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vidursaini shiv0110
@shiv0110, I don't see a negative divergence. The RSI is complementing the scrip move.
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shiv0110 vidursaini
@vidursaini, surely sir your view can be right but there is still a range shift in RSI for sure look at what levels RSI is on 15-5-2018, and today's price is higher than that day but still the RSI is lower.
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