Read these 2 Pages from the Book 📘 "Relative Strength With Technical Analysis by @YTA_School
2⃣ NIFTY 50
An inverted head and shoulder pattern was seen on chart few days back. If the index comes to retest and gives a strong bullish setup, we are looking for a strong upside move in nifty in coming months.
After a awesome breakout on weekly time frame, sector is going through a narrow consolidation phase. A breakout above 13275 can result in a strong 20-25% rally in entire auto sector.
Couple of weeks ago we had seen strong breakout of falling trendline. But now we have head and shoulder pattern formation which is little worrisome. If neck line breaks, we may see weakness in sector.
Read these 2 Pages from the Book 📘 "Relative Strength With Technical Analysis by @YTA_School
2⃣ NIFTY MIDCAP 50
Good resistance is seen ~ 8930 - 40 level. A good Cup shape breakout expected soon. Once breakout is done we can expect the midcap index and many midcap stocks joining the rally in couple of weeks