Hello Traders,
NIFTY50 has worked off my targets to the upside as well as the downside @ 21530!
On Wednesday a bullish-engulfing was formed by traders, a buy signal who pushed N50 the very next two days to a week's closing price @ 22040! A positive sign with a close above 22K!
Note the two gap-ups at the chart; a fact that traders had some new information that haven't been priced in yet!
The path for N50 should be up in the coming week, with targets as announced at my latter analysis!
A break of the blue rising trend line of the channel should open the door to the upper boundary of the box @ 22500 levels!
A sell signal just will be valid by lowering the price at 21530, the low of the bullish-engulfing!
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
NIFTY50 has worked off my targets to the upside as well as the downside @ 21530!
On Wednesday a bullish-engulfing was formed by traders, a buy signal who pushed N50 the very next two days to a week's closing price @ 22040! A positive sign with a close above 22K!
Note the two gap-ups at the chart; a fact that traders had some new information that haven't been priced in yet!
The path for N50 should be up in the coming week, with targets as announced at my latter analysis!
A break of the blue rising trend line of the channel should open the door to the upper boundary of the box @ 22500 levels!
A sell signal just will be valid by lowering the price at 21530, the low of the bullish-engulfing!
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.