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NSE IEX – Price Action Analysis

Free nse iex chart calls

Free nse iex chart calls

Timeframe: Daily

IEX has been forming in a downtrend channel for more than 55 weeks. After making a low of 133.85, this market has developed an inverted head and shoulders reversal pattern.

There are three “no trading zones” in the upper band, and two in the lower band. It’s been a long since the price traded at the upper band of the channel.

Currently, the price has broken out the value area at the lower band and reached the control line of the parallel channel. Traders can wait for the last retracement on the value area for better risk-reward for the following targets: 155 – 164 – 176+.

I will update further information soon.

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