Nifty - Cup & Handle Breakout
It's a weekend and party on D-street as Nifty hits ATH of 16,712.60.
But the party needs to be harder as it breaks out of Cup & Handle Pattern.
Cup & Handle pattern is bullish pattern. The cup is formed in rounding structure while the handle is in the form of falling channel.
The breaks out of the pattern at 16,680 confirms the bullish momentum for next week.
#KeepItSimple #HappyTrading
It's a weekend and party on D-street as Nifty hits ATH of 16,712.60.
But the party needs to be harder as it breaks out of Cup & Handle Pattern.
Cup & Handle pattern is bullish pattern. The cup is formed in rounding structure while the handle is in the form of falling channel.
The breaks out of the pattern at 16,680 confirms the bullish momentum for next week.
#KeepItSimple #HappyTrading
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Daily Market Analysis
SGX Nifty indicates the negative opening of ~100points.
Chart Pattern on Nifty:
1. Bearish Reciprocal AB=CD
2. Bearish AB=CD
3. Island reversal below 16,150
4. Gap area support
5. Bullish Cup & Handle breakout retest
6. Day traders - keep watch on 16,000-16,065 zone.
#HappyTrading
#KeepItSimple
SGX Nifty indicates the negative opening of ~100points.
Chart Pattern on Nifty:
1. Bearish Reciprocal AB=CD
2. Bearish AB=CD
3. Island reversal below 16,150
4. Gap area support
5. Bullish Cup & Handle breakout retest
6. Day traders - keep watch on 16,000-16,065 zone.
#HappyTrading
#KeepItSimple
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