While the BN is sliding inside a falling channel it started a pullback from 34150 and traded higher in another rising channel sine two days. But on 24/12/2021 after opening broke this rising channel decisively and could not sustain an attempt to recap inside the channel. Now it has formed an extending triangle and may trade till breaks on either side. Strong...
Nifty has reversed after taking support at Fibonacci retraction level @ 61%. the current up move started at 15755 on 29th july 2021. since then it made a high of 18604 on 19 October and started reversal. it came down to make a low of 16782 on 29 November 2021, which triggered FIB 61.6% level of 16889 and reverted. nifty again touched this level of FIB 61.6% on 6...
may give a break out. on either side. if upside- 20 is possible if downside- 9.50 will be retested, in very extreme situation 8.50 may be touched. but most likely it will break out on upside and will scale 20/22. this chart and analysis is for education only. consult your financial advisor in such high risk high reward bets.
Sakuma has completed the consolidation. it has come out of the range. may give trendline BO in next session if manages to close above 11.40
chart attached: most depends on news flow of covid.
the stock replicates the same pattern which it has formed in previous up move. expected move up to 125.