Get started
Sachinn_Sangani

Nifty Pharma hourly Chart: Bullish Momentum to Continue

Long
Nifty Pharma Index (NSE:CNXPHARMA)  
Sachinn_Sangani  
NSE:CNXPHARMA   Nifty Pharma Index
Trend Analysis Technical Indicators
2
0
trendanalysis indicator
Nifty pharma current price near 12,321, Bullish ichimoku set up,ascending channel,should move towards 12563 and if this levels are taken off then we may see 12685 soon. RSI at 73 & ADX at 53.50, we need to be sure that both this parameter should not reverse else we may see retractment towards first conversion line ( ichimoku) at 12098 and then towards baseline at 11971.( 9 & 26 day EMA) and momentum will be bearish if both are taken off.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.