Nifty forming Flag and pole, H&S brkdown on Daily charts
Dear all,
As per chart Nifty has given Flag & pole and H&S breakdown on daily charts.RSI also depicting the same as it has shown in Feb-march 2020. Cautious road ahead, if history were to repeat itself.
If the tgts of Flag & pole breakdown is the size of pole, then Pole size (11700-7500)=4200 pts down from brkdown level 11200 comes to (11200-4200)=7000 approx levels. DMI- is up & ADX started moving up. Seems bears again in control of the momentum. Weekly charts of Nifty giving breakdown signals. Only ADX on weekly is missing which i think will matchup in coming weeks.
Views expressed are only for academic purpose, not for trading.
Mayank Mundra
mayankmundra78
As per chart Nifty has given Flag & pole and H&S breakdown on daily charts.RSI also depicting the same as it has shown in Feb-march 2020. Cautious road ahead, if history were to repeat itself.
If the tgts of Flag & pole breakdown is the size of pole, then Pole size (11700-7500)=4200 pts down from brkdown level 11200 comes to (11200-4200)=7000 approx levels. DMI- is up & ADX started moving up. Seems bears again in control of the momentum. Weekly charts of Nifty giving breakdown signals. Only ADX on weekly is missing which i think will matchup in coming weeks.
Views expressed are only for academic purpose, not for trading.
Mayank Mundra
mayankmundra78
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.