Sometimes simplicity is just the key to success.
Previous Channel and Current pattern in downtrend confirmed a bearish continuation again. This post is just to encourage you that you can earn with just simple analysis.
A 'Symmetric Triangle' breaking downside in a downtrend confirms that bulls have been tired and couldn't take the price up again. This is a...
Unless the monthly candle manages a close above 15200 this bearish H&S breakdown is suggesting 11500-12000 (Ichimoku support + 62%) and if that gives way then all the way down to 5000. Please don't forget this is a monthly time frame outlook. It can take all the sweet time in the world to get there.
A bearish flag formation is seen, will the upcoming elections and budget uncertainity lead to a downside breakout.
If it does it will lead to a downfall of around 700 points from the breakout.
This can be a good short for risky traders.
PS: Constructive criticism and opinions are appreciated.
Reversal or Continuation Pattern
Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
by just analysing the structure of market on hourly frame it seems that the downtrend may not resume unless and untill nifty holds 11014 on closing basis !
we can then see further gaps getting filled due to it ! lets just keep a track at levels closely!
1st day of week on Monday 2nd April Nifty -0.04% 50 index managed to open positive and witnessed sustain buying interest throughout the day. It managed to hold and surpass the Hurdle 10158 and headed towards 10220 levels. Bulls recovers with sustaining pulls up to the bears, It managed to hold above previous weeks’ close and formed a Bullish candle on the daily...
'Nifty index opened Gap down breaching previous Lows of 10077 and made new low 10049 in near psychological 10000 support area , sustained buying pressure from lows near about 100 point rally up to 10155 recovers Bulls in Action and tried to stand still against bears positively. Bears Tried to drag down Bulls in last Session but Bulls managed to Hold the Fight...