In follow up to above post, we are approaching double (triple) bottom breakout target of 23800. I have drawn another equidistant trendline to provide a higher channel of similar magnitude to the existing trading channel. If we do have a blowout rally from current levels, we could be looking at levels of 24500 kind of levels wherein nifty will touch higher end of the newly depicted higher channel.
Posted just for academic purposes to see how simple models work. As of now it has provided noise free analysis, wherein the election fears, exit polls, and outcome all have played out. We will keep following this pattern going forward to see how it plays out.
| Subscribe To Our Free Newsletter |
