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