If you cannot recognize this pattern, will really recommend Minervini's books.
Textbook SL and entry, good governance, turnaround in FMCG happening.
Have fun!
It will give slight breakout of trendline and fall from the previous supply zone
Goes ex dividend at same time
Follows Trendline
Overbought on RSI
Slowing volumes on uptick
Matches Global Weak outlook
SL 3449 (-19)
Tgt 3200 (+230)
Caution : FNO can cause heavy losses on bad position sizing. Do your own research before taking trades. Not a registered analyst.
I show them this chart.
Only once ever has SENSEX posted 7 consecutive green years. And we just made another seven green candles.
NIFTY is the highest PE index in the world.
What do think will happen in 2023?
When NIFTY breakouts in a overall bear market setup, it seems to sustain for another 2.8% before falling back.
Nifty needs to allowed to move to 17800 (acc to OI Data as well confirmed, before allowing to fall back to 17400)
This doesnt look like a permanent breakout as we can see overall at yearly level it is falling back to lower lows and lower highs.
Why...
