Nifty Oil and Gas sector indicates start of an uptrend.

Sep 15, 2023

The Nifty Oil and Gas sector looks bullish on daily charts.

Daily Chart
This week we see the weakness in the momentum when we have a negative HA candle with a strong body on the 13th of September. Now the momentum tried to recover from the weakness with 2 green HA candles. But both of these candles have a weak body.

Weekly Chart
The price looks bullish on the weekly Chart.
https://www.tradingview.com/x/RjoRhrUq/

Conclusion: The price will continue to move in the uptrend.

Thanks
Simranjit Singh Virdi

Oct 3, 2023

Note

Nifty Oil & Gas Sector (Daily Chart): With a bearish cross the price has closed below the resistance level. The sector is in the downtrend. The next important convergence level is 7713.85 which will act as a strong support.