NIFTY BREAKING OUT OF BEARISH TRENDLINE (INDEX UPDATE)

١٥ مارس ٢٠٢٢

SUMMARY:-
*index has broken above its bearish trendline
*last time it did that we saw 1000 point rally in index
*we have re-entered the trading range of 16800-18350
*at the same time we have captured 200-dma
*oil near 100 or almost below that
*only thing is that it can find support near fibonacci levels
*FOMC meet tomorrow night
*market will go bullish into the event
*according to me :-rate hike is factored and known news will be positive
*re-iterate index target on the upside

NIFTY FUT
BUY@16850-16900
STOP@16600
TARGET@17050-17190-17420

'longs were active since yesterday'
'we had a inverted head and shoulder pattern break'
'trade according to your risk appetite'
'this is my personal view only'

١٥ مارس ٢٠٢٢

ملاحظة

١٥ مارس ٢٠٢٢

ملاحظة

UPDATE:
after the break we got 150 points on top
so with trailing stop will hold towards target of 17170-17220
we will have extension above 18350-18600 sooner or later
once the lower-low and lower-high formation breaks
we have achieved a trendline break and and inverted head and shoulders pattern
in hour chart

١٥ مارس ٢٠٢٢

ملاحظة

ADJUSTING STOP TO 16480 DUE TO MARKET SENTIMENT
SAFE TRADERS CAN LOOK TO EXIT IF NIFTY BREAKS BELOW 16580
ADDED BUFFER OF 20 POINTS

١٧ مارس ٢٠٢٢

أغلقت الصفقة: تم الوصول للهدف

ALL TARGETS ACHIEVED IN NIFTY
AS MENTIONED EARLIER
ONE DAY EVENT GOT BROUGHT INTO
MORE UPSIDE POSSIBLE IF MARKET CLOSES ABOVE 17430