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peace_lover

NIFTY BROKE OUT OF RECTANGLE PATTERN & REACHED TARGET

Long
Nifty 50 Index (NSE:NIFTY)  
peace_lover  
NSE:NIFTY   Nifty 50 Index
Rectangle Volume Moving Averages breakout
2
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rectangle volumestudies movingaverage breakout
  1. RECTANGLE PATTERN BREAKOUT WITH GAP-UP :

    Market broke out of previous rectangle pattern with a solid gap-up which indicated strong bullish momentum

  2. REVERSAL FROM 100D SMA :

    Market also reversed from 100D SMA on 1-hour chart which also made it a strong signal

  3. VOLUME SURGE :

    Alongwith gap-up opening volume also surged on 1-hour timeframe which also indicated very strong momentum behind it

  4. MACD BULLISH CROSSOVER :

    MACD also made bullish crossover at sufficient angle (neither too steep nor too low) which gave even more positive confirmation
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