Nifty future on charts from last couple of weeks making the strong candlestick formations & overall addition of volume on higher levels also indicating that this upside could continue for some time.
If we see charts for considerable longer duration then we could realise that it is making higher lows on charts & the overall slopy patterns on upside. The only concern is that it is not making much convincing tops on higher side its almost like flat tops, so it means that on higher sides we again might see some correction. But overall we would recommend that if this time nifty future close above 5250 mark one should focus on long position in nifty future.
If we see charts for considerable longer duration then we could realise that it is making higher lows on charts & the overall slopy patterns on upside. The only concern is that it is not making much convincing tops on higher side its almost like flat tops, so it means that on higher sides we again might see some correction. But overall we would recommend that if this time nifty future close above 5250 mark one should focus on long position in nifty future.
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