NSE:NIFTY   Nifty 50 Index
Today, nifty gave a gap up opening. The first candle on the nifty chart (15 min time frame) is a bullish candle. The first candle has a long body and a small wick, this indicated that nifty will go up. Nifty went upto 15130 levels and came down to near day lows, forming a double bottom pattern here(which is a reversal pattern). Here nifty formed a strong bullish candle/ bullish engulfing pattern which confirmed that nifty might reverse from here, and that's what exactly happened. After that nifty made new high around 15159, and gave a small pullback. There is a hidden bullish divergence on the RSI which indicates that nifty might go up tomorrow as well. The resistance zone which I have marked is very important. If nifty opens above this zone tomorrow, then nifty will go upto 15200 levels. If there is a flat opening tomorrow, then nifty will again touch the resistance zone and come down to the support levels marked around 15059-15000 levels(major support levels).

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