Nifty View 23500 Breakout & Retest Play

Hi friends sharing a view for Nifty on weekly chart and i hope it will be a good learning idea more than a trading idea and I am tagging this idea in long category for publishing because by the my analysis i am getting a long view for Nifty and can touch 23500 levels in nearby sessions but my idea having a good learning content too we can apply it in our next trades but unable to tag both long and educational flags at the same time so i am going to tag it long view as i seems higher levels, and learning we all can get eventually by this publication mates.

So now conclude that how i am getting 23500 levels now let me tell you i mentioned two breakouts and two retests as you can see on chart so what my logic is this that after breakout one it retest breakout identically and it moved 24 percent upward after and now after the breakout two price retested too and moving upward and can do 24 percent for this time too although this retest completed many weeks ago but i am sharing this idea might help to any mate in anyway for taking view about longs or short if they are having same view and agree with my publication.

Rest i will update idea if i find something important to share with all of you.

This publication is meant for only learning purpose, it is not any kind of trading advice.

Best Regards- Amit (Do boost my publication if you really like it mates)

“The goal of a successful trader is to make the best trades money is secondary.” – Alexander Elder

Comment:

So traders sharing an update regarding closings as how much important are closings in any asset, So at that time when i published this idea it was highest weekly closing ever and it's importance increases more when specially price close above recent swing top on weekly charts sharing image below and i assume that this closing based resistance can act as a possible support for price now

Sharing Daily chart too-:
Sharing daily chart too as it is much important at this time because we are 3 sessions away from next weekly close, On daily time frame we are getting two higher consecutive closes above earlier swing top after publish this idea can give more strength to this idea. I think i don't have much to update this idea in coming sessions because it's a view not a trading idea still then if i will find something important surely will share with all of you mates. Thanks mates for reading and supporting my publication.

Comment:

Bullish momentum is in continuation as we got a highest weekly close yesterday after a highest monthly close day before yesterday, Now this weekly and monthly closes will help to price for heading towards mentioned levels after retesting in idea description and simultaneously supports are sliding to upside levels with the help of price increase.

Highest monthly close-:

Highest weekly Close-:

Comment:

So guys finally Benchmark index again reached to the previous swing high and break that marginally and punched a new all time high after some hiccups faced some days back due to some global indices and sentiments so if price will close above this resistance then soon we can see mentioned 23000 levels in this publication

Comment:

Hello mates updating this idea after many day so now we are getting a new all time high of 22800 when i published it was 22000 apart of this i placed a resistance line as price unable to close that resistance line on weekly time frame and but as we know that only one day remaining for this week close and global indices and setiments are supportive for this close so probably we can get a close tomorrow this time if happen we can see the 23500 levels as per mentioned in idea

Comment:

Hello mates and trading community sharing an update regading a highest weekly close as price gives highest weekly close ever which is a close above a strong resistance and swing high too as price was facing very strong resistance there and dragged three times more than 3% but finally last week gives a breakout and close above that resistance area and did an all time high of 23000, this close will give more strength to price and now that resistance can act as support in coming sessions. Price gradually heading towards marked final target of 23500 please consider this is a second last update for this idea next i will update only when it will do mentioned target.