NIfty Next Levels 20200 or 18800? Let's Read to know my view.
Updated
Good Morning Mates.
Nifty exhibited volatility but achieved a significant milestone by closing above 19600 for the first time in a while. The bullish crossover of the MACD signaling an ongoing bullish trend. Additionally, a bullish crossover in the RSI highlights the index's strength.
In the short term, Nifty may target levels of 19800/19991 or even 20200+. On the downside, key support rests at 19308, and the market is expected to maintain a buy-on-dips strategy as long as this support level holds.
Additionally we have Seen Triangle Continuation Pattern Breakout on Daily Chart, this is also a positive sign for nifty, i will explain a bit about this triangle pattern here.
Q:- What Is the Triangle Continuation Pattern?
Rahul:- The Triangle is a continuation pattern using the concepts of support and resistance and price breakouts. Generally, when prices make significant moves, they go through a period of resting. Usually with a Triangle pattern, the price consolidation period consists of higher lows and lower lows, forming the shape of a “triangle”.
Q:- What Does the Triangle Continuation Pattern Look Like?
Rahul:- Guy's check above the Nifty chart, i have rectified Triangle pattern.
Q:-How to Interpret the Triangle Continuation Pattern?
Rahul:- When the support and resistance lines begin converging, price can burst out of the consolidation area and it is expected that the price action will continue trending in the direction that prices have been moving previously.
Q:- Is Triangle Continuation Breakout Pattern is a Buy Signal?
Rahul:- Yes it gives signal to buy when the resistance line is penetrated to the upside. The signal is generally expected to be stronger if prices have been in an uptrend prior to the upside breakout.
I hope guy's you have learned now about this Bullish Triangle pattern.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Nifty exhibited volatility but achieved a significant milestone by closing above 19600 for the first time in a while. The bullish crossover of the MACD signaling an ongoing bullish trend. Additionally, a bullish crossover in the RSI highlights the index's strength.
In the short term, Nifty may target levels of 19800/19991 or even 20200+. On the downside, key support rests at 19308, and the market is expected to maintain a buy-on-dips strategy as long as this support level holds.
Additionally we have Seen Triangle Continuation Pattern Breakout on Daily Chart, this is also a positive sign for nifty, i will explain a bit about this triangle pattern here.
Q:- What Is the Triangle Continuation Pattern?
Rahul:- The Triangle is a continuation pattern using the concepts of support and resistance and price breakouts. Generally, when prices make significant moves, they go through a period of resting. Usually with a Triangle pattern, the price consolidation period consists of higher lows and lower lows, forming the shape of a “triangle”.
Q:- What Does the Triangle Continuation Pattern Look Like?
Rahul:- Guy's check above the Nifty chart, i have rectified Triangle pattern.
Q:-How to Interpret the Triangle Continuation Pattern?
Rahul:- When the support and resistance lines begin converging, price can burst out of the consolidation area and it is expected that the price action will continue trending in the direction that prices have been moving previously.
Q:- Is Triangle Continuation Breakout Pattern is a Buy Signal?
Rahul:- Yes it gives signal to buy when the resistance line is penetrated to the upside. The signal is generally expected to be stronger if prices have been in an uptrend prior to the upside breakout.
I hope guy's you have learned now about this Bullish Triangle pattern.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Note
Nifty 19700+What a moment today,, Nifty reclaim 19700 levels. Technically nifty successfully cleared 19650 resistance zone and post breakout in intensified the positive momentum. Higher bottom formation on intraday charts and bullish candle on daily chart supports further uptrend from the current levels. We are of the view that 19650 would be the key level to watch our for, and the above the same nifty could move 19800-19900. On the flip side, below 19650, the uptrend would be vulnerable.
Note
Another milestone got achieved by nifty Nifty reclaimed 19800+ level.
Note
Guy's we are near to All time highNote
kya bolti apni public...we have told you that this levels is coming when everyone was telling it is going down sideNIfty touch 20000+
Awesome, what a proud moment for india.
Rahul Pal (Indian Moderator)
(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
For Live Streaming join youtube.com/@realbullstrading26
Learning Stock Market and Trading Programmes.
Whatsapp:- 9560604457
(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
For Live Streaming join youtube.com/@realbullstrading26
Learning Stock Market and Trading Programmes.
Whatsapp:- 9560604457
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