It is been observed that the price action is forming a bullish Gartley pattern on daily chart that suggest a short pull back from the current levels. I believe it shall go up to 8680 levels before it continues its down fall.
Key Points:
Strong Support levels at 8568-8521
Bullish Gartley Pattern formed
MACD AND RSI Oversold
Therefore, one can take a long position, while keeping a strong stoploss as marked below
Target: 8680
Stoploss: 8525
Key Points:
Strong Support levels at 8568-8521
Bullish Gartley Pattern formed
MACD AND RSI Oversold
Therefore, one can take a long position, while keeping a strong stoploss as marked below
Target: 8680
Stoploss: 8525
Trade closed: target reached
Nifty Targets achieved, book profits.
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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.
Related publications
Disclaimer
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.