NIFTY BROKE OUT OF RECTANGLE PATTERN & REACHED TARGET
- RECTANGLE PATTERN BREAKOUT WITH GAP-UP :
Market broke out of previous rectangle pattern with a solid gap-up which indicated strong bullish momentum
- REVERSAL FROM 100D SMA :
Market also reversed from 100D SMA on 1-hour chart which also made it a strong signal
- VOLUME SURGE :
Alongwith gap-up opening volume also surged on 1-hour timeframe which also indicated very strong momentum behind it
- MACD BULLISH CROSSOVER :
MACD also made bullish crossover at sufficient angle (neither too steep nor too low) which gave even more positive confirmation