This index is bullish on a daily time frame and a resistance and support level are drawn (purple rectangle). The bullish trend is also denoted by a purple trend line. There was a divergence on 1D time frame which resulted in a downward trend for few days but after that it again got back in bullish trend. On hourly chart there was a bullish diversion which reversed the trend back to bullish which can been seen from daily time frame. A trend line is also drawn on an hourly chart along with an ABCD bearish reversal harmonic. Currently there is no divergence on a hourly chart but there is one on 15m that would result in a form of correction in the trend on hourly chart. I have placed my order of Buy Stop on 15m time frame because the probability is high for an upward trend till it test the 1D resistance level.
The Signal is:
EP: 7966.60
SL: 7916.80
TP: 8016.40
RR: 0.25%
The Signal is:
EP: 7966.60
SL: 7916.80
TP: 8016.40
RR: 0.25%
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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.