A decisive breach above 10,560 would attract momentum on Nifty: Tradebulls

Few trading ideas by Sacchitanand Uttekar, AVP- Technicals (Equity) at Tradebulls Securities (P):

NIFTY OUTLOOK:

Ongoing consolidation within the range of 10,400-10,550 now looks mature for a breakout. Occurrence of a Bullish Hammer on the 180 min scale augurs well for the support & could see an immediate movement towards the upper end of the range. Also on the daily scale the index maintained its low above its previous days low price & thus the price action on Monday & Tuesday could be termed as a reversal sign (Bullish Harami Candlestick pattern). A decisive breach above 10,560 would attract momentum and hence