Nifty looks like forming a bearish flag pattern also forming a trend line on downside. Having a resistance at 19670 might it can make a down move but need to wait n watch till comes near to its resistance.
As we can clearly see a bear flag pattern in 2 hr time frame .Here we will get the good trade in the terms of risk and reward in both the directions just after the breakout or Breakdown of the consolidation phase in either direction. I am more confident towards the shorting side as compared to the long side just because of the short term negative sentiments of the...
Where will Bajaj Auto head to ?
• Bullish Bat Harmonic Pattern formation is seen (Uptrend)
• Bear flag pattern is seen (Downtrend)
• Todays close is exactly at 200 EMA and taking 3rd time support on the Bear flag pattern channel (Support)
• Last 3 candle sticks form three black crows candle stick pattern (Downtrend)
• Recent swing retracement...
NSE:BANKNIFTY A bear flag breakout is evident in the 2H chart.
The pole was a decent bear trend down after rejection at the top of the trading range post a failed breakout.
The fib level coincides with the demand zone which also happens to be the bottom of the trading range.
The higher probability trade however is to go long at the demand zone.