NIFTY Bank....Bulls on the run!? Ichimokou Kumo break out...
Hello Traders,
at todays Tradingsession my observed Indexes reached to new ATH`s, except NIFTY IT!
At the hourly chart you can observe that NB had a strong day by exceeding to 25594.85 on a closing basis. NB gaped out of the Trendchannel (Bullflag?) and is on it`s way to the decling trenline (grey) just tics above.
Because of the rising prices at broader market we have two options for next weeks Trading.
The first is that NB will gap away this resistance as of today and make it`s way to the valid ATH @ 25953.50....
Or second, after a time of „fighting“ with this resistence it will be outpaced after a new run to it!
From an EW view it is possible to count the last hours since election as an a-b-c pattern or of course a fresh new Impulse and so a 1-2 and a starting wave 3 of 3!
If this is the case we will see a very strong Mondaysession and probably new ATH`s!
At the hourly chart I have left some marks to show resistance/support from my view and the time NB concerned with it! So this make the resistance very important!
There is no need to be invested all day at markets and if not necesary step byside and wait for clearer pattern!
Have a great weekend.....
ruebennase
Feel free to comment or ask questions!
at todays Tradingsession my observed Indexes reached to new ATH`s, except NIFTY IT!
At the hourly chart you can observe that NB had a strong day by exceeding to 25594.85 on a closing basis. NB gaped out of the Trendchannel (Bullflag?) and is on it`s way to the decling trenline (grey) just tics above.
Because of the rising prices at broader market we have two options for next weeks Trading.
The first is that NB will gap away this resistance as of today and make it`s way to the valid ATH @ 25953.50....
Or second, after a time of „fighting“ with this resistence it will be outpaced after a new run to it!
From an EW view it is possible to count the last hours since election as an a-b-c pattern or of course a fresh new Impulse and so a 1-2 and a starting wave 3 of 3!
If this is the case we will see a very strong Mondaysession and probably new ATH`s!
At the hourly chart I have left some marks to show resistance/support from my view and the time NB concerned with it! So this make the resistance very important!
There is no need to be invested all day at markets and if not necesary step byside and wait for clearer pattern!
Have a great weekend.....
ruebennase
Feel free to comment or ask questions!