Looks like Triangle has broken with shift in price volatility

NSE:NIFTY   Nifty 50 Index
Nifty confirmed triangle break with first 15 minute of opening. I think short can be initiated for minimum downside of 8385. Prices are currently retracing to broken line take entry at the end of retrace.
Comment: Downward momentum started
Comment: Intra day traders can exit positions if they want to, positional traders can hold their positions with trailing SL
Comment: I think prices should halt at 8353 for some time now, waiting for price to complete its first cycle so that we can add Fibonacci Arcs to them
Gud observation
Major trend is positive, so I suppose one should wait to reach 8385 and then go long in next series and weekly risk open
Nrupen rohitladdha
@rohitladdha, From 12th Of Jan Nifty is range bound between 8385 and 8445. Its not yet positive or negative. I am on bearish position since risk on this trade is less and I only prefer taking low risk trades.
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