Nifty will break rising channel or support from the channel ?
Hope all are doing great.
Here’s my 1D timeframe analysis. As we can see in the chart from 18-Nov-2022 to 5-Apr-2023 around 138 days there was a good falling channel pattern. It broke and achieved 3 times the target.
The next 138 days from the previous breakout is forming beautiful rising channel pattern. As per the pattern nature it might break below to the given support level 19118. Expecting to touch that support level on or before 22-Aug-2023.
I also shared similar analysis for banknifty giving reference below.
Always trade carefully with proper SL because it’s your hard earned money.
Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
Here’s my 1D timeframe analysis. As we can see in the chart from 18-Nov-2022 to 5-Apr-2023 around 138 days there was a good falling channel pattern. It broke and achieved 3 times the target.
The next 138 days from the previous breakout is forming beautiful rising channel pattern. As per the pattern nature it might break below to the given support level 19118. Expecting to touch that support level on or before 22-Aug-2023.
I also shared similar analysis for banknifty giving reference below.
Always trade carefully with proper SL because it’s your hard earned money.
Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
