Note: This is for educational purpose only.
There seems to be a bullish engulfing pattern at 21 EMA. 21 EMA above 55 EMA and both sloping upwards signifies uptrend. Bullish engulfing is supported by good rising volume. RSI above 60 indicates bullish momentum too.
Nifty - Technical Analysis:
Nifty formed a double top pattern in hourly charts and 10880 will now act as a strong support which, if breached, can lead to a further correction in the index.
On 15 minute charts, Nifty gave a failed breakout out of the 11100-11300 range and also the upward channel.
Market - Driving Factors:
All sectoral indices ended in...
A classic correction pattern on a bullish run. The price has moved above the narrow range, and will test the highs again, before moving further up.
Buy @ 212.95
SL @ 203
Target @ 245.
Personally holding this position.
WE CAN CLEARLY SEE THAT IT IS RESPECTING CHANNEL AND IT HAS MADE DOJI CANDLE AND TRYING TO CLOSE BELOW UPPER CHANNEL LINE ONCE BLUE LINE IS TAKEN OUT N CLOSING BASIS IT MUST FALL TO LOWER CHANNEL LINE GOOD LUCK
TRADE AT YOUR OWN RISK