There is head and shoulder pattern in nifty weekly chart, So nifty might retrace the height of shoulder, that is around 7726 . Also as per ABCD pattern nifty might retrace 7692. Also this would take the nifty to over sold zone (RSI). So this is the time to buy costly stock cheap rate. Also use money management. Buy at every support level.
WEEKLY CHART :- TAKING SUPPORT OF 50 DAYS M/A. AS PER DAILY CHART CNX IT IS TAKING SUPPORT OF 300 DAYS MOVING AVERAGE. ALSO AT THIS POINT SOME CONSOLIDATION IS TAKING PLACE AS PER DAILY CHART. PRZ - 10943 - 11051. U CAN SEE THAT BULL ARE LIKELY TO TAKE PRICES HIGH AT THE CLOSING OF THE DAY. WHICH MAKE THE FORMATION OF HAMMER TYPE. U CAN ALSO SEE LAST 4 CANDLE , 3...
NIFTY AS PER WEEKLY CHART ITS RESPECTING 50 DAYS EMA . ALSO DAILY CHART 200 DAYS EMA. AS OF KNOW IN WEEKLY CHART ITS IN THE COMPLETION OF AB=CD PATTERN, AFTER COMPLETION OF THIS PATTERN. IF POINT D TOUCH THE 786 RATIO OF XA LEG. THEN IT WOULD BE A CYPER PATTERN.
