Nifty making M Pattern & broke channel Short

S&P CNX NIFTY INDEX FUTURESNSE

Description

⋅ May 16, 2021 10:26 AM

Nifty looking weak.
Reasons:

1) Broke the old Parallel channel as depicted in the charts.
2) Nifty completing 'M' Pattern
3) Nifty making Double Top patterns

Note: Only for educational purposes.