Bullish momentum favours the Aussie and we should see prices head higher from here on and further!
If we get a new higher low that would be a perfect entry for us to enter long all the way to the minor resistance levels at 0.72118
A new trend has emerged with a breakout and retest from the previous downtrend line signalling a new change in trend for the short term.
Expect the price to continue with its Higher High- Higher Low trend support!
today nifty closed red at 10,793.65 with a change 0.35% after touching the 11k mark. After seeing the current chart patterns we can nearest support at 10700 and also we can see the 10620 mark according to pivot points and s&r analysis
traders by looking at chart it clearly shows a nice down trend probably market will choose a bearish move just hope for this will keep you updated with trade levels just waiting for this weekly candle to close
nifty has consoildated between a 40 point range from last 2 sessions ... the ATR of two days as well as the next session will bring a one side move of average 150 + point ... crucial level already given in chart!
All idea is depended on Wave structure.
An expanding wedge is a part of a flat in this case and it is completed or about to be complete.
But this can be a or it is a start of the next impulse up which will be the C wave of the Flat.
The stock is likely to head towards 2920 / 3215 levels in medium term
The pattern gets invalidated if the stock closes below the red line on a weekly closing basis
Take care & safe trading...!!!
On charts the stock is at levels which has the potential to act as support.
The stock looks good to go long from risk:reward perspective.
At CMP and on further dips the stock can be looked for Target of 144/156
Stop loss if closing is below 128 /126
Take care and safe trading...!!!