Nifty 50 futures<\/h2>\n\n\n\nThe Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Nifty-50-Bull-Follow-Through-Bar-2-680x383.png\" "\\"\\"")
<\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- With a strong bull close this week, the market has continued its strong bull leg, and there are good chances that it will eventually reach the outside bar measured move target.<\/li><\/ul>
- Therefore, bears should refrain from shorting the market.<\/li><\/ul>\n
\n- Because the market is currently trading inside of a broad bull channel, there is a chance that the price will increase and bulls can look to buy and aim for the channel’s high.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- Clearly, the market also overshot the tight bull channel, which may point to a different target for a measured move.<\/li><\/ul>
- After the overshoot, the market formed its third straight bull bar this week, which may encourage more bulls to start long positions.<\/li><\/ul>\n
\n- Bulls who are already long should keep holding their positions until the market forms a strong reversal bar or reaches the high of the broad bull channel.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Because the market made yet another higher high, the broad bull channel is now confirmed to be valid, allowing traders to plan their trades accordingly.<\/li><\/ul>\n
\n- Following a series of small bull bars, the outside bar was a relatively large bull breakout bar, which prompted the measured move above based on the bull bar’s body (illustrated using pink colour).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/Nifty-50-Bull-Follow-Through-Bar-680x383.png\" "\\"\\"")
<\/figure>\n\n\n\n\n- General Discussion<\/strong>
- Because the market is currently trading close to the bull channel’s high, a slight pullback may be seen.<\/li><\/ul>
- The market may present a good opportunity for the bulls to enter this trade if there isn’t a pullback accompanied by strong bear bars.<\/li><\/ul>
- Some bears decided to sell on a bear bar and aim for a small profit as the market reached the peak of the bull channel.<\/li><\/ul>\n
\n- It is very difficult to sell in a strong bull channel like the one shown above because the trader must manage the trade properly to maintain a positive traders equation over the long term in these types of entries.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The bears attempted to form a small double top after the market overshot the measured move target, but they were unsuccessful in doing so.<\/li><\/ul>\n
\n- The market formed numerous bull gaps, and these bull gaps can result in a measuring gap measured move, so the most recent bull leg in this bull channel is very strong.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- traders should only concentrate on buying and not selling because the market is currently trading inside of a strong bull channel.<\/li><\/ul>\n
<\/figure>\n\n\n\n\n
- \n
- General Discussion<\/strong>
- With a strong bull close this week, the market has continued its strong bull leg, and there are good chances that it will eventually reach the outside bar measured move target.<\/li><\/ul>
- Therefore, bears should refrain from shorting the market.<\/li><\/ul>\n
- \n
- Because the market is currently trading inside of a broad bull channel, there is a chance that the price will increase and bulls can look to buy and aim for the channel’s high.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- Clearly, the market also overshot the tight bull channel, which may point to a different target for a measured move.<\/li><\/ul>
- After the overshoot, the market formed its third straight bull bar this week, which may encourage more bulls to start long positions.<\/li><\/ul>\n
- \n
- Bulls who are already long should keep holding their positions until the market forms a strong reversal bar or reaches the high of the broad bull channel.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Because the market made yet another higher high, the broad bull channel is now confirmed to be valid, allowing traders to plan their trades accordingly.<\/li><\/ul>\n
- \n
- Following a series of small bull bars, the outside bar was a relatively large bull breakout bar, which prompted the measured move above based on the bull bar’s body (illustrated using pink colour).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n
<\/figure>\n\n\n\n- \n
- General Discussion<\/strong>
- Because the market is currently trading close to the bull channel’s high, a slight pullback may be seen.<\/li><\/ul>
- The market may present a good opportunity for the bulls to enter this trade if there isn’t a pullback accompanied by strong bear bars.<\/li><\/ul>
- Some bears decided to sell on a bear bar and aim for a small profit as the market reached the peak of the bull channel.<\/li><\/ul>\n
- \n
- It is very difficult to sell in a strong bull channel like the one shown above because the trader must manage the trade properly to maintain a positive traders equation over the long term in these types of entries.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The bears attempted to form a small double top after the market overshot the measured move target, but they were unsuccessful in doing so.<\/li><\/ul>\n
- \n
- The market formed numerous bull gaps, and these bull gaps can result in a measuring gap measured move, so the most recent bull leg in this bull channel is very strong.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- traders should only concentrate on buying and not selling because the market is currently trading inside of a strong bull channel.<\/li><\/ul>\n
- The bears attempted to form a small double top after the market overshot the measured move target, but they were unsuccessful in doing so.<\/li><\/ul>\n
- Some bears decided to sell on a bear bar and aim for a small profit as the market reached the peak of the bull channel.<\/li><\/ul>\n
- The market may present a good opportunity for the bulls to enter this trade if there isn’t a pullback accompanied by strong bear bars.<\/li><\/ul>
- Because the market is currently trading close to the bull channel’s high, a slight pullback may be seen.<\/li><\/ul>
- General Discussion<\/strong>
- Following a series of small bull bars, the outside bar was a relatively large bull breakout bar, which prompted the measured move above based on the bull bar’s body (illustrated using pink colour).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- Because the market made yet another higher high, the broad bull channel is now confirmed to be valid, allowing traders to plan their trades accordingly.<\/li><\/ul>\n
- After the overshoot, the market formed its third straight bull bar this week, which may encourage more bulls to start long positions.<\/li><\/ul>\n
- Clearly, the market also overshot the tight bull channel, which may point to a different target for a measured move.<\/li><\/ul>
- Therefore, bears should refrain from shorting the market.<\/li><\/ul>\n
- With a strong bull close this week, the market has continued its strong bull leg, and there are good chances that it will eventually reach the outside bar measured move target.<\/li><\/ul>