Get Ready For A Big Move in NIFTY
According to this chart, NSE Nifty had started raising from mid-March. Still, it's in an uptrend, and that has confirmed through my drawn support trendline and dynamic resistance.
I have used here 50 MA and 200 MA to identify the next move. Those moving average crossover indicating direct a positive sign, and the price must be trading at or above the 50 MA, this shows a continuation of the trend.
Don't forget to keep attention on tail, excess, and fake outs.
Further, please have a look at the resistance line (dotted) into the chart.
Now let's come to the point, at present, nifty has created an ascending triangle. Its base range is 680 points. The nifty price will start marching for 11600 - 11860 - 12000 levels soon after a breakout of a hurdle line. Safe investors may start new positions after consecutive (two or three) positive candles.
Keep your eyes open when it moves to hit trend diversion (11096) level. The trend diversion breakdown may fall the nifty prices from 11096 to 10900 - 10660.
I have used here 50 MA and 200 MA to identify the next move. Those moving average crossover indicating direct a positive sign, and the price must be trading at or above the 50 MA, this shows a continuation of the trend.
Don't forget to keep attention on tail, excess, and fake outs.
Further, please have a look at the resistance line (dotted) into the chart.
Now let's come to the point, at present, nifty has created an ascending triangle. Its base range is 680 points. The nifty price will start marching for 11600 - 11860 - 12000 levels soon after a breakout of a hurdle line. Safe investors may start new positions after consecutive (two or three) positive candles.
Keep your eyes open when it moves to hit trend diversion (11096) level. The trend diversion breakdown may fall the nifty prices from 11096 to 10900 - 10660.
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