GOLD forming Cup pattern, Triangle and Consolidation breakoutGold prices have retrace and consolidated around 50% of prior rally. Multiple breakouts and formation suggest that we may see Gold higher till 48k by the current calendar year.
Triangle
Care Rating Descending triangle breakout @in_tradingviewNSE:CARERATING
Descending triangle breakout
if enter in SnR zone of 515 - 560
we may see bounce till 540 550
if break 500 support
then 450 420 can be seen
BANK NIFTY
Bank Nifty still has room on upside.
Triangle formation on hourly chart, IF HDFC Bank starts moving tomorrow Bank Nifty is a buy.
KOTAK / ICICI Bank are in downtrend.
SBIN And Axis have just broken out of range.
Most importantly HDFC Bank has to come out of the range to perform and uplift Bank Nifty.
NIFTY
Triangle Formation on Nifty.
Any pullback to 11800 levels should be bought.
NIFTY IT is pulling up should support nifty with this push.
Bank nifty should support in this endeavor as well.
With whole market breadth so positive it is the best time to create a long.
Levels mentioned in the chart.
Indus Ind Bank Below all moving averages indus ind bank is coming to its support.
This is a failed triangle breakout where in a stock can form triple bottom at 1281 levels.
Symmetrical Triangle(Bear Direction) NIFTYSymmetrical Triangle (Bear Direction)
Now are in the responsive move, this responsive move has much strength for a pullback.
Trading 11045 above, is bullish for targets 11208 and 11273 nearby as 38.2% retracement of total fall.
If you think for positive: Buy 11060-11080 stop loss 11050 below for the targets intraday R 11155 nearby and next targets 11208 and 11270.
Note: I am already long today lower level.
I also updated to buy you Nifty with reference of :
What an Exact Target for TriangleMotherson Sumi. Break, Target for a distarted triangle pattern. Notice the target B-Line target calc method.
