Hello Traders,
NIFTY 50 made a new ATH at 13280.05 today. It is extending higher to my mentioned target at 13399.50.
Any extension of this advance will bring N50 closer to the cited area. More bullish potential exists.
Two levels of lower areas are of interest for traders (hourly chart).
The first is 13145.80, which should act as support if a short term pullback occurs (brown trend line).
Visualized at chart is another trend line (blue).
Any break on a daily close of this line would open the door to l12983.55 possibly.
An extension of such a phase of weakness (?) could bring N50 closer to 12790.40. But there is no sign now for such a scenario!
As before. The next target for N50 is at 13399.50.
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY 50 made a new ATH at 13280.05 today. It is extending higher to my mentioned target at 13399.50.
Any extension of this advance will bring N50 closer to the cited area. More bullish potential exists.
Two levels of lower areas are of interest for traders (hourly chart).
The first is 13145.80, which should act as support if a short term pullback occurs (brown trend line).
Visualized at chart is another trend line (blue).
Any break on a daily close of this line would open the door to l12983.55 possibly.
An extension of such a phase of weakness (?) could bring N50 closer to 12790.40. But there is no sign now for such a scenario!
As before. The next target for N50 is at 13399.50.
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!