Nifty 11900? Are your serious !!!
After a long gap of 1.5 months i am again back to track ( was busy in Technical class).
After so many breakouts near 10950–80 levels market making new high day by day. There were near about 2–3 breakouts and some target achieved and some are near by.
These small target done, now move towards big target which is near about 11900, formation of cup and handle.
Cup and handle is a continuous pattern, which means the previous up-trend will continue to hit new high in market after some consolidation phase.
There will be many small small fall in between this journey, but overall 11900 mark it will try to hit for sure, Above one is the 1 week chart that means a big time frame we are taking, if we go with 1 day chart then there we can see resistance point.
Like i said earlier “There will be many small small fall in between this journey” that means overall trend is bullish, but in between small fall is normal. Below is the 1 day chart.
Because it is only going up in one direction , i am expecting some breakdown from the channel pattern, but overall its in up-trend. If one day candlestick close below 11500 then be ready for 150–180 points fall. If there is no breakdown, then it will move in between the bullish channel.
Support at 11260–280, Resistance at 11600–650.
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