Big Gap in Nifty Weekly Chart

19. Apr. 2022

This week Nifty weekly chart created a gap of around 170pts and is a rare event in Nifty weekly chart. Tuesday close is exactly at the middle point of parallel channel and also coincides with the first arm bottom of inverted H&S pattern in weekly chart. Multiple things are indicating that Tuesdays chart is forced to makeup for the pattern indicating the near term bottom. Wednesday trade will be interesting to see how the chart patterns are respected and also if chart attempt to fill the gap within the week, we may see significantly big rally from Wednesday itself