It is a very unique analysis of the DXY. Dollar index has shown a bearish divergence on chart within 7 candles of weekly time frame . It means ongoing bullish trend has weakened.DXY and World markets ,nifty have inverse relationship in trend momentum. If DXY shows negative price action,start making long positions in equity.
After the breakout of bearish pole and flag pattern in nifty with a gap, nifty is making a descending triangle pattern on 1H time frame.
There is bullish divergence in RSI which is making our trade more confident. Market can fill the gap that was created. You should keep an eye on the bullish side breakout. Your first
Target can be 200 EMA on 15 M time frame.
McDowell 's price action is too much bearish.Size of bearish candles is much. It has also formed double top pattern in its resistance zone. Keep an eye on it. If it breaks it's neckline go bearish with proper risk management.
Reasons to go for long trade:
01.Breakout of a powerful trendline with powerful candle.
02 .Very bullish volumes in the bottom structure of price ( entry of smart money).
03. In retracement very less powerful bearish candles( absence of bears).
04. Go long after formation of very bullish candle after retracement.
In Adani ports after a good bullish move, their has been formed pole and flag type structure. After break out of this pole and flag pattern on upside we can get a good bullish move till 895 leval. Keep an eye 👀 on it . Thank you.
