NIFTY MEDIA- PIC PERFECT BAT PATTERN ON WEEKLY CHART
Nifty Media is an interesting index chart with following
1. RSI above 55 on all time frames i.e. DWM
2. Index consolidating between 1600-2500 zone since 2021
3. Narrowing Bollinger Bands on weekly chart
4. Price trading near upper Bollinger Bands
5. After completion of Cypher Pattern on weekly chart Index now forming BAT pattern on weekly chart with price above 20 Week SMA
Lets See how it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI above 55 on all time frames i.e. DWM
2. Index consolidating between 1600-2500 zone since 2021
3. Narrowing Bollinger Bands on weekly chart
4. Price trading near upper Bollinger Bands
5. After completion of Cypher Pattern on weekly chart Index now forming BAT pattern on weekly chart with price above 20 Week SMA
Lets See how it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
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