Logic
1) Price is at long term trend line, (Be caucious if week closes below trend lie)
2) We can see that the price is in a sideway zone from last 9 week. So a fresh trend may start.
3) We can see a channel formation (which is a bullish sign) ,If breakout happens than we would be at next high and the next high looks very high from here.
I personally biased with a bullish view only after channel breakout.
1) Price is at long term trend line, (Be caucious if week closes below trend lie)
2) We can see that the price is in a sideway zone from last 9 week. So a fresh trend may start.
3) We can see a channel formation (which is a bullish sign) ,If breakout happens than we would be at next high and the next high looks very high from here.
I personally biased with a bullish view only after channel breakout.
Note
Closing above 15000 will lead nifty to next all time highNote
hammer formation is a bullish signal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.