NIFTY BULLISH FLAG PATTERN (PART-3)/(FINAL INDEX UPDATE)

23 мая 2021 г.

SUMMARY
-after almost three weeks later since our last post
-nifty has finally broken out of its flag pattern
-it was initially shared as whether the pattern as failed or still in formation
-and as per our expectation nifty after closing above 15045 has started a fresh leg of rally

OBSERVATION

Why this time the breakout successful?
-dashing rally from banknifty index was laying support for breakout
-bulltrap laid on expiry to capture weak-hand
-followed by forcing the shorts to cover through short-covering rally
-followed by aggressive buying and closing the week at the highest point

Nifty daily chart and weekly chart analysis
-daily and week have both given confirmation of bullish flag pattern breakout
-infact on weekly chart its clearly visible that index retraced only til 23.6% and revert back
-when retracement ends before 38.2% and starts to trend again it is considered as a strong bull scenario



hints and tricks
-technical analysis as a core fundamental believe that history repeats itself
-so with prove and support check out how the market rallied after it closed at the lowest point on expiry
-check nifty 24th sept 2020
-check nifty 15th oct 2020
-both the breakout ended crating 1000 rally on the upside


TRADE SETUP FOR NIFTY INDEX IN JUNE FUT

NIFTY FUTURES TRADE
BUY@15100-15150
STOP@14920
TARGET-1@15342
TARGET-2@15430
TARGET-3@15478

-TARGETS WILL BE REVISED UPWARDS AS PRICE MOVES UPWARDS
-ONCES PREVIOUS ALL TIME IS TAKEN WE ARE LOOKING AT LEVELS ONLY ONE CAN IMAGINE

NIFTY FUTURE FORCAST
-based on the assumption that the analysis we have worked on till now
-one can expect nifty to cross levels of 16500-17500-18000 in coming future
-some will laugh some will agree
-but the fact is the flag pattern on week chart indicates even a higher target
-this will be the final leg of our education series
-we have tracked the formation
-we have tracked the breakout
-sorry for posting late could have not done this earlier due to busy schedule
-my view is an independent view and not copied or applied from elsewhere
-hope you do the same and form your own independent view
-hope you learned from the educational series

"FOR FURTHER VIEWS AND LEARN CHECK THE LINK IN THE SIGNATURE BOX"

27 мая 2021 г.

Сделка закрыта: достигнута тейк-профит цена

TODAY WE HAVE REACHED OUR FIRST TARGET

28 мая 2021 г.

Сделка закрыта: достигнута тейк-профит цена

EXPECT TO BOOK PROFITS IN OPEN
ALL TARGET TO BE ACHIVED TODAY
FURTHER EXTENSTION ALSO EXPECTED