It is been observed that the price action broke out of the Descending Triangle on daily chart after a short consolidation highlighted in blue. That breakout made a Lower Lows at 453 levels from previous Lows made at 477, therefore it indicated bearishness. Now, the price action has made a New Lower Low at 448 levels, signaling higher weakness and prices fall...
It is been observed that the price action is trending down on daily chart. Now, the price action is breaking out from a Descending Triangle, indicating bearishness and selling pressure.
Target: 79
Target 2: 78.50
SL: 80.50
Howdy Everyone, I'm biased today !!!
From the title itself you will be knowing that Nifty is on Bullish mode, yes true. Yesterday we had Descending triangle pattern & I mentioned that upmove is not gonna happen yesterday. But its time Now, as we have clear Airspace & Runway, Let's signal the Nifty to take off. I'm expecting around 70-100points gap up, big one but...
Industrial Finance Corp. of India (IFCI) on monthly chart forming a descending triangle. Once it breaks out above 30, it shall be considered as great long-term investment opportunity. Publishing it now to provide you an opportunity in advance, hope you gain something out of it. Regards.
Its a Game between triple restest of support zone & Descending triangle. Whether this support holds & send price back up or descnding triangle breaksdown, let's wait n enter the trade in Reliance.
Happy Trading !
