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NIFTY -- BULLISH CHART PATTERN NIFTY -- HOURLY CHART -- BULLISH CHART PATTERN 1. Recent fall of nifty from high level lower channel seen till 15800 level where nifty form double bottom at 15800 level 2. After double bottom formation nifty at trading at upper channel 3. consecutive support taken at lower level of upper channel has seen where trend follow as uptrend higher top and higher bottom seen 4. recent support taken at lower level of upper channel arround 16200 and last 2 trading session nifty seen bullish up by around 300 points at present 16478 close at last trading session 5. next few session upper channel trend followed and nifty can hit target 16600-16800 level . 6. 16200-16400 work as support and 16600-16800 resistance as target as per channel 7. histogram seen bullish in last 2 trading session confirm this trend. ** THIS IDEA IS FOR EDUCATIONAL PURPOSE HAPPY TRADING. !!
NSE:NIFTYLong
by champtrade111
2
USDCHF pullback is in the offing, focus on SNB’s JordanUSDCHF prints a five-day uptrend to refresh the yearly high at around 0.9460. The pair’s latest upswing took place from the 21-DMA and monthly support line. However, the overbought RSI and April 2021 peak near 0.9475 challenge the pair buyers ahead of a speech from the Swiss National Bank (SNB) Chairman Thomas Jordan. Even if the quote rises past 0.9475, an upward sloping trend line from late September, around 0.9485, will act like a tough nut to crack for the bulls. Also acting as an upward barrier is the 0.9500 psychological magnet. Alternatively, pullback moves may initially aim for the 0.9400 threshold before testing the short-term support line surrounding 0.9350. Even if the USDCHF bears manage to conquer the nearby trend line support, the 21-DMA level of 0.9326 and the 0.9300 round figure could entertain them. It’s worth noting, however, that the latest swing low, marked on March 31 around 0.9195, becomes important support to watch during the pair’s declines past-0.9300. Overall, the USDCHF upside is likely to fade soon and hence today’s speech from SNB Chief Jordan will be important to watch.
by MTradingGlobal