Nifty 50 IndexShort
Nifty: Trendline Breakout, Backtesting Pending
Updated
Nifty has given a huge breakout today on the hourly candles, from the (Down) trendline (marked in black)
We can expect a good backtesting before we move up further.
Back testing can either be on
1. 50% retracement of the range (Refer Fibonacci drawn on left) 17507.3
2. Backtesting on the trend line
Or
3. It can just move up with the momentum
Let's wait and watch
We can expect a good backtesting before we move up further.
Back testing can either be on
1. 50% retracement of the range (Refer Fibonacci drawn on left) 17507.3
2. Backtesting on the trend line
Or
3. It can just move up with the momentum
Let's wait and watch
Note
just had a short entrancement and then had a pull back, indication of a strong bull market
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