NIFTY will breakout on the upside or downside soon

26 Nov

Rectangle Pattern Breakout - NIFTY is trading inside a rectangle pattern and will break out of the pattern anytime either upwards or downwards

Rectangle on 5-min Timeframe - Above is the nifty chart on 5-min timeframe which more clearly shows that nifty is trading inside a perfect formed rectangle pattern


Strong Resistance Level - Above is another image of nifty on 5-min timeframe indicating how the lower line of the rectangle had been tested 3 times already (including once yesterday) indicating the strength of the pattern


Target - target will be 95 points away from the place where the market breaks out on the rectangle. Upside or downside breakout both seem equally probable at this point.

27 Nov

Catatan

Trade Active - Bullish as breakout has occurred on upside

27 Nov

Trading ditutup: target tercapai

market has hit the target within a short period of time and gave good returns