FinNifty for next week 18th July's expiry
Finifty I expect to go long next week's expiry. Please see the description in the charts.
The right side is 5 mins chart depicting
1. double bottom
2. break of lower high
3. Process of creating a 2 legged correction, once the second leg is created,
it will be a good time to go long
The right side is higher time frame 1 hr depicts
1. Flag and Pole pattern
2. Price pullback was 50% so there is good chance to go up from here as it's close to EMA
3. Daily time frame today creating an inside candle most likely by end of day
Note: Please note this analysis is just for educational purpose only and it's just based on technical analysis and chart patterns.
The right side is 5 mins chart depicting
1. double bottom
2. break of lower high
3. Process of creating a 2 legged correction, once the second leg is created,
it will be a good time to go long
The right side is higher time frame 1 hr depicts
1. Flag and Pole pattern
2. Price pullback was 50% so there is good chance to go up from here as it's close to EMA
3. Daily time frame today creating an inside candle most likely by end of day
Note: Please note this analysis is just for educational purpose only and it's just based on technical analysis and chart patterns.
Comment:
Price still holding the lower low this is could be the end of second leg down on a daily time frame