NIFTY has been moving a really strong up trend since November .
After a strong correction to the moving average on daily , it has bounced sharply .
Today not only it gapped up but closed above the resistance of all time highs with a strong close on daily.
Market gapping up above a resistance and closing shows strong signs of a breakaway gap leading to further short squeeze.
Size of the swings have been small since November . And based upon previous leg , market might lead to levels of 14,400 - 14,500 with the start of the new year .
If you find this post of value , follow me for more updates!
Cheers
Piyush
After a strong correction to the moving average on daily , it has bounced sharply .
Today not only it gapped up but closed above the resistance of all time highs with a strong close on daily.
Market gapping up above a resistance and closing shows strong signs of a breakaway gap leading to further short squeeze.
Size of the swings have been small since November . And based upon previous leg , market might lead to levels of 14,400 - 14,500 with the start of the new year .
If you find this post of value , follow me for more updates!
Cheers
Piyush