Nifty View 2018 ~ Weekly & Monthly Timeframe

In our earlier post on Telegram we had already mentioned that on long term charts Nifty is forming Ascending Triangle and target for that comes around 10350 (leverage of 0.50% to be taken on both side) which is already achieved. Lets have look at that chart first. 

Along that if we see alternate way for Nifty then alternate view was also forming for another bullish pattern known as Flag & Pole and for that targets comes to about 10036 which is also achieved. 

Anyway lets move forward and look at current chart setup and for that lets have look at current chart structure on weekly chart. 

Looking at medium term Nifty chart current pattern can be said as Channel Pattern and for that if Bulls manages to close above 10500 (Daily basis ~ conservative approach) then expected upside target comes at 11354. 

Another view on monthly chart is again Bullish Pattern known as Flag & Pole. Lets have look at chart first. 

So looking as per above chart we can see that bulls may face resistance at 11072-11400-11930 levels with final target at 11930 levels. Please note these levels are resistance levels and may not come in near term as studied chart time-frame is monthly. 

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.