Please don't curse me if this does not turn out to be true, considering the eco-geo-political developments happening all around the world. But, I'm sharing what I'm visualizing. Right now we are taking support at the bottom of the channel or handle of the cup. From hereon, if we are breaking the handle/channel and cup-line upwards, I see NASDAQ testing 21450...
I drew simple trendlines on 10 yr chart, 2 year chart and 6 months chart..
appears to me that Bank Nifty is preparing for a breakout as it’s been running that small short term trend channel since past 4-5 months..
If I expand the chart to look at 2 year data.. it looks Bank Nifty has just started firing up and more fire is left in it… may be 50k would be the next...
Three Pattern Movement seen on a 3 year chart of Reliance. Am I reading this correctly?? Is Reliance ready for its next big upmove of around 500-600/-???
Disclaimer: This is not a buying or selling recommendation. Just sharing it for self education purpose and taking opinions from experienced analysts.
