NIFTY retouching the breakout + RSI divergence (120 pts ahead)
During expiry Thursday the market was highly volatile and closed at 10289 level.
Still the breakout dint failed, with a small risk can go long upto 10410
CMP : 10289
SL : 10239
Target : 10410
1:2 risk reward, almost 121 pts ahead with 50 pts risk.
Analyze :
1) NIFTY if you compare with my yesterday analyze, it has formed Engulfing at resistance, and today almost kind of a doji and closed near yesterday low
2) If tomorrow morning turns up and reached our target (10410) it will become a Morning star pattern and sign and breakout can give more heights
3) RSI bullish divergence i'm 15 min's time frame, that is really powerful.
P.S : Morning star at ressistance level is not that much powerful, so try to close the position as soon as target reached.
Still the breakout dint failed, with a small risk can go long upto 10410
CMP : 10289
SL : 10239
Target : 10410
1:2 risk reward, almost 121 pts ahead with 50 pts risk.
Analyze :
1) NIFTY if you compare with my yesterday analyze, it has formed Engulfing at resistance, and today almost kind of a doji and closed near yesterday low
2) If tomorrow morning turns up and reached our target (10410) it will become a Morning star pattern and sign and breakout can give more heights
3) RSI bullish divergence i'm 15 min's time frame, that is really powerful.
P.S : Morning star at ressistance level is not that much powerful, so try to close the position as soon as target reached.
Trade closed: target reached
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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.