Nifty daily chart analysis
- Nifty's rising wedge in daily chart is being tested. Yesterday's nifty spot high was exactly on the support line of the rising wedge. We will know today if the wedge is valid or not.
- Nifty has closed above 5 day high ema which shows strength. But did not close above the recent high point.
- The third chart shows how the 20 SMA has given support to the index. But as you can see there was a close below the 20 SMA on all instances that i have shown here, followed by good upward momentum.
- Also shown in the 3rd chart is how one can enter a safe trade when a consolidation range breaks out.
- NIFTY'S CONSOLIDATION BREAKOUT TRADE
GM san
ReplyDeletethanks for the chart...
can u give approx target for the BO...
@Wormwood
ReplyDeleteIf nifty closes above 5480 I am expecting at least 60 points from 5468. So that will be around 5528. A move below 5453 will make the break out an invalid one.