!!NIFTY POSITIVE BUILT-UP!!

-The index managed to sustain the gap-up which we saw and the result was we have a break-out of the flag pattern which i have already explained in the previous educational chart

-Now looking at the indicators 1)RSI ITSELF HAS SHOWN BREAKOUT OUT OF THE FLAG PATTERN
2)MACD HAS SHOWN POSITIVE CROSS-OVER
3)ADX HAS SHOWN POSITIVE CROSSOVER
-There can now be two outcomes that:-
1)The index will close the gap-up distance and trade on the negative side and will confirmation whether its a flag or a descending channel.(highly unlikely)
2)The index will manage to show another strong gap-up which will shown further strength the index will lead to higher levels and will give confirmation of flag pattern.
(most expected due to gujarat election result)

NOTE:-
DUE TO HOLIDAY SEASON THE INDEX MIGHT SEE SUBDUED MOVEMENT DURING THE LAST TWO WEEKS ANYWAY IF THE ABOVE THING TAKE PLACE WE WILL SEE HIGHER LEVELS IN THE COMING MONTH.

Comment:

NIFTY TOMORROW WILL TEST THE LEVELS OF 10400-10390
HOLD YOUR SHORT POSITIONS.....