Nifty on the 1W time-frame is a straightforward buy. It is not just the attractive (now neutral) technical indicators (RSI = 48.265, MACD = -7.860, ADX = 27.064) but also the fact that the 1W candlesticks along with the 1W RSI being on a HL trendline, repeat a pattern which since 2011 starts an incredible rally.
The HL suggest that the index won't fall more from the current levels and should rise a minimum of +35% from November's High. We are heavily bullish on Nifty (long term TP = 26,000).
## If you like our free content follow our profile to get more daily ideas. ##
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.