BREAKOUT OR FAKE OUT!!!!!!!

Volume traded was an All time High (N6bn) Signs of increase in market participants.

The 65 Day Moving Average is playing a Huge significant role with short-Term Pullbacks and participation of Huge Buying and selling pressure.

On Economic numbers, some school of thought feel the current AMCON BILL that has created this current Bullish rally has not yet taken off.

On the technical front, there is nothing much to doubt this breakout as it has good volume and form. However, don't be surprised to see a few sideways or slightly negative days before it continues upwards. Traders also need to be nimble to react to a possible intermediate term pullback like the one we saw back in January. with the market this extended without any significant pullbacks along the way, we can expect the next pullback to be a strong one.

Watching the chart below A Double Top Pattern formation is present in NSE ASI price for 17th of JUNE (25,934 points) and July (25,905 points)  while the RSI indicator of same period for July RSI(66.34) reading a Higher than June's RSI (47.75). This is a BULLISH DIVERGENCE.