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NIFTY-Two Reversal pattern with one RARE pattern

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  • N Offline
    N Offline
    Nishshkumar Jaani,CFTe

    Pro User

    wrote on last edited by
    #1

    NIFTY-Two Reversal pattern with one RARE pattern

    1->Probable Cup and Handle pattern breakout above 22720 will confirm the pattern can rally to 23300-23500

    2->ISLAND reversal -There is gap down open un filled gap between 22720-22668 if mkt open above both gap and remain unfilled then island reversal and this pattern has high accuracy of forming top and bottom because this is rare reversal pattern

    looking at three thing mkt is ready for forming bottom and reversal

    Breadth wise at covid levels
    Indicator wise near covid levels
    Valuation wise near covid levels

    Tarrif news is now old that will be sector specific event -if something new panic situation along with weak quarterly results then mkt will further go down

    inflation wise only concern is from the deperciation for USDINR that impact on imported food items

    my view point for bullishness and mkt bottoming out is 75 % and 25 % for further weakness

    accumalting ALPHA & MOMENTUM50 ETF6c0f652e-9e47-437d-856a-925a7afc8454-ISLAND REVERSAL IN NIFTY .jpg

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  • N Offline
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    Nishshkumar Jaani,CFTe

    Pro User

    wrote on last edited by
    #2

    first tgt done

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