Nifty 50 weekly view 15-11-21 to 19-11-21

A week a candle:

Nifty 50 has made a bullish dragon-fly candle stick pattern after taking the support of 17800 levels and also, crossed and closed the last trading day's green candle, which indicate the sign of bullishness in coming days. If you see the Third-last big red candle and Second-last small green candle, they show the pattern of "Inside bar" or "Bullish harami" candle pattern and last green dragon-fly candle confirmed the bullish sentiment. The traders can make new position with the target of 18500 to achieve till expiry.

 

A day a candle:

Nifty 50 followed everything: the support of 17800, above blue trend line, crossed and closed the last swing high as per the Elliot wave theory, etc. which indicated the sign of bullish sentiment in coming days or so. New positions can be made because the Futures data shows the bullish nature of Nifty 50, voluminous Futures has been bought on Friday i.e. 12-11-21. You can see the target of 18500-18600 levels, if there is nothing bad happens.