Bullishness not gone away
Though in lower timeframe some weakness appearing
in weekly chart its bullishness is obvious.
In the lefthand side there is inverted head and shoulder breakout
which has taken place in june23.This h&s break out is important as the rise along the arrow
shown in the chart was a five wave move.And there was subsequent pull baack from that which should be
2 nd wave.Gap appearing on the right hand side which is unfullfilled till now seems to be
accelerating gap which normally appears in 3 rd wave.
Again nifty has broken out of the base channel one week before last week.
last week it retested the channel but has pulled back.
so last week's high and low are important.
overall sentiment is positive.
So be optimistic .
If this logical analysis helps you do like this post.
follow me to get updates.
in weekly chart its bullishness is obvious.
In the lefthand side there is inverted head and shoulder breakout
which has taken place in june23.This h&s break out is important as the rise along the arrow
shown in the chart was a five wave move.And there was subsequent pull baack from that which should be
2 nd wave.Gap appearing on the right hand side which is unfullfilled till now seems to be
accelerating gap which normally appears in 3 rd wave.
Again nifty has broken out of the base channel one week before last week.
last week it retested the channel but has pulled back.
so last week's high and low are important.
overall sentiment is positive.
So be optimistic .
If this logical analysis helps you do like this post.
follow me to get updates.
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