Nifty Uptrend intact
Nifty uptrend is intact.
The pullback from ATH levels saw nifty taking support near 20DEMA and the previous breakout zone which now is acting as support.
The last three candles having long wicks near the support zone show demand in Nifty.
May form a double bottom pattern or rounding bottom pattern to continue its uptrend from hereon.
The view is invalid if Nifty goes below 17950 on a closing basis.
Please note: This is only for educational purposes and not a buy/sell recommendation.
Pls do your own research and consult your financial advisor before taking any investment/trading decisions.
The pullback from ATH levels saw nifty taking support near 20DEMA and the previous breakout zone which now is acting as support.
The last three candles having long wicks near the support zone show demand in Nifty.
May form a double bottom pattern or rounding bottom pattern to continue its uptrend from hereon.
The view is invalid if Nifty goes below 17950 on a closing basis.
Please note: This is only for educational purposes and not a buy/sell recommendation.
Pls do your own research and consult your financial advisor before taking any investment/trading decisions.
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