60 min chart Nifty
The price rally went thro the orange median line today indicating the breakout from Downsloping Median line.The down trend seems to have made the low with the confirmation when the price closes above 5600 + levels.
The daily bar is what Tim Morge a leading proponent of Median line trading calls as a ZOOM Bar.This indicates the positive momentum built up and the trend change calls for reversal of trades to LONG.
Targets up area at 5670-5700 band at the Upper Median Line Parallel( UMLH)
Trade Plan for next day:
Enter Longs on any minor pullback to the Orange median line at around 5460-5480 during the trading day.