Nifty has shown a steep upmove in the last one month breaking all the strong resistance without any major retracement.
Today, nifty crossed 18000 with a strong volume candle and has closed near a strong supply zone of 18100-18120 levels. Even Bank nifty has given a strong closing above 43000.
This breakout can be a signal for strong bullish uptrend to a new high...
NSE:TATAELXSI Strong uptrend in this stock today it retested and bounced back from the previous breakout lvls which was also the golden fib zone TP1 - 9266 , TP2 - 964 , TP3 - 10967
Breakout post shakeout is very powerful, this one had two (highlighted in the image). Shakeout is when price falls, comes back up and closes almost equal or minutely in red in a week or one day. The Stock Broke out post that within 4 to 8 weeks ( which is important otherwise the stock is not in a strong uptrend) breaking all resistance on heavy volume.
Weak buyers...
