Thread by @niki_poojary

#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: