Nifty - Forming Bullish Gartley Pattern
Updated
It is been observed that the price action is forming a bullish Gartley pattern on daily chart that suggest a short pull back from the current levels. I believe it shall go up to 8680 levels before it continues its down fall.
Key Points:
Strong Support levels at 8568-8521
Bullish Gartley Pattern formed
MACD AND RSI Oversold
Therefore, one can take a long position, while keeping a strong stoploss as marked below
Target: 8680
Stoploss: 8525
Key Points:
Strong Support levels at 8568-8521
Bullish Gartley Pattern formed
MACD AND RSI Oversold
Therefore, one can take a long position, while keeping a strong stoploss as marked below
Target: 8680
Stoploss: 8525
Trade closed: target reached
Nifty Targets achieved, book profits.
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