Nifty Auto showed immense strength bouncing off 200 EMA line and now opening with a gap up and holding above the B level of XABCD bearish butterfly pattern drawn on the chart.
The price is near the supply zone but after taking so much beating, it may not reverse again but takes a pullback and continues the rally in my opinion. Or might even fail from the supply zone, so keep a watch.
The price is near the supply zone but after taking so much beating, it may not reverse again but takes a pullback and continues the rally in my opinion. Or might even fail from the supply zone, so keep a watch.
Trade closed: target reached
beyond expectations!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.