Last week nifty strength is very good & move is range bound & give a break out at 4610 , market facing resistance at 4600-4700 zone.crossing above this zone & sustain this level nifty can touch 5200- 6000.
DAILY CHART
In daily chart nifty break out above 4610 & close above this level & enter into a new resistance of 4600-4700 zone above this level 4900-5000 is possible in short term. In down side nifty not breach the 4450-4380 level below this level nifty became weak.RSI trying to entered into OB zone.
MACD is still +ve ,so buying on dips or fresh buying .
WEEKLY CHART
In weekly chart nifty making huge reverse head & shoulder pattern & nifty closing near at neckline of the h&s ,if nifty close above 4700 & sustain this level ,it means this a breakout of h& s the nifty target is unbelievable 6200-6875-7150 i don't it achievable or not in medium term.I think if these target are not meet at present move but all of these target are achieved in long term because i faith in Indian economy.
RSI goes upward MACD is also bullish.
So buying on dips for till the market trend up.
MONTHLY CHART
In monthly chart day by day gained strength & give signal for going upward RSI, MACD both are bullies .
So buying on dips.
HAVE A GOOD WEEK.
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