Tuesday, 18 May 2021

NIFTY 18 MAY 2021 - A breakout above 14850 can give 15100-15200-15350

 


What a great and least expected breakout yesterday. I would like to discuss about two possibilities here.
More likely outcome is 15100-15200, as said yesterday but looks like it will come as gap up. If one has long from levels above 14850, congratulation. Book profit on rise. RSI is supportive for rise. 

Less likely outcome - 15044 is a top to invade and may give challenge. If failing then market can reverse from 15044 or near by point. 

Let us see, what's next.  

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