5000 point rally in Nifty ?
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5000 point rally in Nifty ?
Remember the 5th march post with titled Mkt at near Bottom !
Again posted on 13th march with titled Two reversal pattern with one RARE pattern- close above 22720 will have 23300 now heading towards it
looks at the chart today is the third consequtive day clsoe above lower trendline and close above 23100 will trigger close above upper trendline,gone below lower trendline but smartly bounced-> when mkt is oversold and attractive majority of the time false breakdown happens
on 5th march posted chart with custom breadth indicator that bottom is not far away along with this written that we are at covid lows in terms of Breadth-Indicator and valuation wise
now pattern will unfold on close above 23100 with 22000 as strong support levels for 28000
keep accumlating ALPHA & MOMENTUM50 BEES
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As usual Renko is a lot more cleaner, here is a 3% brick size, weekly.
Unless we are in the middle of a major crash, highly likely another down brick, and then a climb back.
We could still have a rough few weeks. Hard to say, but likely
If the bearish trend on 0.5% renko, daily goes on we might be up for 2 - 3 more hard months.
