mklives

NIFTY..triangle.

Short
NSE:NIFTY   Nifty 50 Index
NIFTY still is in a triangle on daily charts .
but todays move is highly bearish . started with a gap down and never filled the gap.
had a trending bearish move today..
wait for traingle to break for fresh shorts, for target of 11600
Comment: gapped down below triangle..not good..
nifty at 200 dma.. considering the weakness i am expecting lower levels, whether after a bounce or not, time will tell
Trade closed: target reached: 11600 reached
Comment: what a fall breaking the triangle and now gapped down below 200 dma, with heavy selling

Comments

Cheers
+1 Reply
true! you are only one who has mentioned it.. Cheers
+1 Reply
why dont you see the triangle beigning from 12428.. thats ok.. bottom connectng points 11614 and todays low..? on hourly chart
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mklives Parasuram
@Parasuram, i use daily daily charts always.. since am a positional trader in futures.. alternate view given below..at support now..reason y i used the other onw, the one below coindies with 200 dma. so thatsasupport anyways at 200 dma
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mklives mklives
@mklives, sorry as below
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