Nifty 50 , Crosses Breakout

Nifty 50 IndexNSE

Description

⋅ May 2, 2020 7:29 AM

Hello everyone.

My first post here.

I am learning technical analysis and this is somewhat my first chart analysis on Nifty 50, daily chart.
I see Nifty breaking the breakout level and 5 day moving average is crossing over 20 day moving average. Seems like the bear run is over and bulls are taking control now.

Please provide your feedbacks.

Trend Analysis

Comments

saras_ankit

⋅ May 2, 2020 10:20 AM

Hi, this is a false breakout on the upside

saras_ankit

⋅ May 2, 2020 10:22 AM

@saras_ankit check the volumes in daily chart and compare with previous days volumes

sangamnaik12

⋅ May 2, 2020 2:46 PM

@saras_ankit, okay . i would do the same . thank you. any other advice ? i am new , any help is invited.

manish786

⋅ May 3, 2020 5:11 AM

i think this is a false breakout...market wont survive there and rebound from 10000 levels or gap down is expected on monday

saratdas90

⋅ May 2, 2020 11:33 PM

Mostly NSE/BSE follow US mkt. In that case it will be a false break out.sc das