This looks like a channel, so I say it is a channel. The interesting thing about channels is that you will almost never get all price points on the lines. Price can break up and out then return in, or break down and out and come back in, or break totally out and stay out.
But it's an opportunity for those who plan carefully.
Stay safe. Don't get the Indian...
Live Challenging Signal Buy Central Bank of India @ 16.90
Pair: Central Bank of India
Entry Type: Buy
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If you thought the DJI was overvalued, have a look at the India50. This thing has outperformed loads of other stock indices, even rivalling the Brazilian Bovespa. They've certainly passed the moon. Could the next stop be Mars?
Well I think a significant correction is well overdue. Of course, I don't know when that might happen. The show could start with a 5 to 15...
The Indians are in a similar position to many other stock indices. Three things can happen here:
1. Price goes below the amber ATR line, and then rocks north like a bat outta hell - or
2. Price collapses below ATR line and continues south for a while.
3- Price continues to range within a horizontal band.
Whatever happens there is money to be made here - if you...
In the chart we can see nifty on near support level
Bulls can make position at 11620 with SL of 11560
Bear can make position after breakdown by 11525-11580
But personally i suggest bull trade
Note :- Do not go with my advice , study a trade !
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