Nifty confirmed the Trend line breakout all are happy and all are very bullish.. But I am just saying about the rules of Technical Analysis. Which are as follow.
Trendline Breakout should base of Stock or Index ( Depend on its Volatility or Density of Volume)
But any trendline breakout 100% sure after closing above or below 1% or hold for atleast 3 Days.
Nifty surpassed the trend line that was connecting previous three highs since June 2019, this is a good sign of strength.
Keep holding longs, or utilise the dips to create fresh longs. also remember to use trailing stop loss or follow some indicators you are comfortable with. I recommend EMA on RSI as shown in the chart. (21 RSI, 9 EMA, 2 hours chart is a time...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.109.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.108.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
While the price is above the support 7446.80, resumption of uptrend is expected.
We make sure when the resistance at 9243.50 breaks.
If the support at 7446.80 is broken, the short-term forecast -resumption of uptrend- will be invalid.
The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another...
Currently at key support zone which is between 105-113.
Support zone could probably act as a short term consolidation zone, after which a downside breakout possible. This anticipation is justified on account of the heavy volume based fall.