#NIFTY
BO on weekly TF for huge targets in upcoming months.
Outlook for the week Nov 7 - Nov 11, 2022.
THREAD: Deconstructing NIFTY on 5 different TF's.
#NIFTY
1. Monthly TF:
• Current at ATH on monthly closing basis
• Expecting NF to make a fresh ATH in the upcoming months.
• 17800-850 looks like a strong support.
#NIFTY
2. Weekly TF:
• BO of falling channel, for huge targets upto 20800 levels int he upcoming months.
• BO of pole and a flag formation, targets mentioned on the chart.
#NIFTY
3. Daily TF:
• Post a W formation, NF moved swiftly up
• A BO is soon on the cards
• Sustaining > 18100 levels
• Immediate resistance: 18350
#NIFTY
4. Hourly TF:
• S/R mentioned on the chart.
#NIFTY
5. 15min TF:
• BO of symmetrical triangle, targets mentioned
Conclusion:
• Monthly, weekly & daily TF NIFTY is bullish.
• Clearly a Buy on dips market, immediate resitance: 18350.
• Bo of falling channel in weekly and pole & flag already done.
• NF is ready for 20800 level in the coming months.
I regularly share weekly outlook on indices (NIFTY & BANKNIFTY) and many more threads on trading & finance.
If you enjoyed this, then do check out the outlook for #BANKNIFTY by clicking here:
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