Nifty Accumulation Phase Identified on June 21 0008hrs After accumulation in nifty price broke out and sustained above the accumulation range. and gave a retest twice ..
Second confirmation : A Symetrical triangle breakout and sustained above it all day on friday
Now we have a confirmation that price is about to go bullish for the time being .. So whats the target area (Or) a confirmation area where we can say that we hit the bottom and we are about to see bull run?
16000 - 16200 is the area where you can take confirmation as you can see there is a trend line that might act as resistance. If only this area is breached and sustained .. we can say yes we have hit our bottom.
16000 is a psycological level keep an eye on this area. Direction possibilities are givenon the chart
Trade active
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Yesterdays gap filled
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Trading range Given on monday still working as support and resistance Power of Analysis