NIFTY - Next possible moves

Updated

NIFTY consolidating on the weekly chart forming a pitch fork. Likely to move towards 11500 this year. If loses support of the median line (magenta colour) it may 8995-9000 levels to cover the gap it formed (in the yellow highlighted box in the middle), before regaining momentum.
MACD and RSI suggest a positive outlook in the near term though 10650-10700 can be a strong resistance.

Trade active

Nifty touches 10638.

Note

Nifty Breaches 10600, touches 10700

Note

Nifty breached 11000, touches high of 11157. Above 11170 there can be another breakout.

Trade closed: target reached

Nifty touches all time high of 11495.20

geettanna

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