nifty after a big and fast 1000 point up move starting of september month
and after that there is some side ways time consolidation or retracement happen in last 10 trading session
now what we can see that price breakout of Two different triangle upper trendlines
so my view is here to go Long in to Nifty
------------------------------------------------------------------
buy if hourly closing happen above 19750
stop loss 19450
target 20500 for this trade
-----------------------------------------------------------------
and after that there is some side ways time consolidation or retracement happen in last 10 trading session
now what we can see that price breakout of Two different triangle upper trendlines
so my view is here to go Long in to Nifty
------------------------------------------------------------------
buy if hourly closing happen above 19750
stop loss 19450
target 20500 for this trade
-----------------------------------------------------------------
Uwaga
i am not a Certified registered analysistthis is just my observation for practice and learning purpose of chart reading,
Must take advice from your financial advisor before trade
Uwaga
thank you for reading my ideaif found any related query allow me to answer
Uwaga
if you think this idea is use fullplease like and share
also follow and comment your thought about this analysis
Uwaga
hourly Rsi 14 setupUwaga
hourly Macd SetupUwaga
Hourly Bollinger Band SetupUwaga
hourly Simple moving average setupsma 200 - black
sma 100 - red
sma 50 - green
sma 20- blue
Uwaga
into the last one hour of session mkt slip 100 point from top but don;t worry about that all sector indices are in green so next day 100 gap-up possiblityUwaga
and if gap up happens than Hourly closing above 19750-19775 is our buying entry executed
Uwaga
On monthly candle setupits a clear breakout seen
Uwaga
world mkt specially US mkt is in very much sell mode so that was the only concernUwaga
Still trade not executed Buying only if Hourly closing above 19750-19775
Uwaga
still waiting Buying only if Hourly closing above 19750-19775
Uwaga
daily channelUwaga
today hourly chart its a clear and confirmed breakout happensso for now any dips near 19500-19550 is a buy positional
Uwaga
finally its a brekoutUwaga
any short term dips near 19660 is a also a fresh entryUwaga
as i told previous day Oct 12 update that any where near 19660 is also a fresh entryfor buy
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