Nifty Given a Strong Breakout on Weekly Charts
On weekly charts, Nifty was not able to give a proper candle close above 17900 levels on last three rejections but able sustained above it this week with a strong candle close. It has also given a breakout on trendline or channel type of pattern which is respected for long time.
Can initiate a Trade for upside when 18150 levels is taken out in 15min charts with SL of 50 points and first target of 18300.
It is Preferred to check banknifty before taking a trade as it is also at All time high resistance Zone.
For Downside, 18000 levels need to be broken up.
It is preferred to to trade half quantity for downside.
Can initiate a Trade for upside when 18150 levels is taken out in 15min charts with SL of 50 points and first target of 18300.
It is Preferred to check banknifty before taking a trade as it is also at All time high resistance Zone.
For Downside, 18000 levels need to be broken up.
It is preferred to to trade half quantity for downside.
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