🚨 Heads up, traders! Nifty has formed a double top pattern right at the peak. While we hesitate to scream "downtrend," signs point to a potential correction.
📊 Technical Breakdown:
1. Initial confirmation with a neckline break.
2. Crucial retest completed for added confirmation.
🎯 Targets & Stoploss?
Refer to the chart for specified levels. Brace yourselves for potential market moves!
Disclaimer: Market predictions involve risk. Trade wisely.
#NiftyAnalysis #DoubleTopPattern #MarketAlert 📈🔍
📊 Technical Breakdown:
1. Initial confirmation with a neckline break.
2. Crucial retest completed for added confirmation.
🎯 Targets & Stoploss?
Refer to the chart for specified levels. Brace yourselves for potential market moves!
Disclaimer: Market predictions involve risk. Trade wisely.
#NiftyAnalysis #DoubleTopPattern #MarketAlert 📈🔍
Trade active
Nifty seems to have found a cozy spot at the 21555 level, with no 15-minute candle daring to close below it. We'll only entertain the idea of a fall if, and only if, the price decides to break up with 21555 and sustains below.
Trading Strategy:
- No new short positions until closure below 21555.
- A touch near 21670 before closing may signal a retest, allowing us to consider adding shorts with a tighter stop-loss.
📊 Keep a watchful eye, traders!