Finally the long term trend has turned bullish…
In the daily and weekly chart, the pattern breakout is shown..
On the weekly chart, we can see that, it is a flag formation which has broken out. If you look back to the Flag pole and the flag together, it becomes a High and Tight Flag. This breakout, theoretically, will then become the starting point of the next Bull Run. The conservative target will be half of the flag pole height. If you take the height it will be 4110 points (6335-2225). Take half, and it is 4110. Add it to 5400, it will be 7500. Hence the long term target of NIFTY is now 7500, provided, NIFTY does not break below 4700 once again…
No comments:
Post a Comment