AbhishekHiremath
Short

Nifty penant pattern completed?

NSE:NIFTY   Nifty 50 Index
Nifty             broke the rising trendline today thus completing a penant pattern..confused if i'm being slightly pre-emptive or should wait for further confirmation and short at 9820.. calls building up at higher strikes in the options data today..waiting to see the action tomorrow..
pattern targets at 9710 followed by 9530
Comment: Also 9940 coincides with the 50% fibonacci retracement,along with indicators giving a fresh signal
I'm not strongly sure but the way I see nifty moving and with the way global indices are moving,I think Nifty will be able to come at 9950 levels
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