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Bearish Patterns

NIFTY Ready for a Down Swing move ??!!!Chart pattern insist me the above titled opinion REASONS 1. NIFTY has been trading inside a Descending channel pattern creating lower highs and lower lows 2. Right now, it is at the resistance level(top of descending channel) 3. Day close above 18260 will pave way for the bulls 4. Safe SL can be Day candle closing out of the Descending channel 5. Target levels mentioned @ chart 6. In hourly time frame , Head & Shoulders pattern is evolving(right shoulder in formation) 7. Better to enter after the H&S BREAKDOWN!!!( BELOW THE BLUE TREND LINE)(ATTACHED BELOW) 8. In addition to the above stated , BEARISH HARAMI(JAN 18 AND 19 DAY CANDLES COMBINED ) adds more to the PROBABLITY OF DOWBN MOVE!!!!! Bank Nifty too travelling in a similar descending pattern (shown below) Let's wait & watch how it moves!!!!
NSE:NIFTYShort
by mmjimm
2
Double top in PEL ???!!!Chart clearly depicts the pattern. PEL - Primary trend is Bearish. Double top - with 2nd top having high lower than the 1st top . Previously there was a double bottom like formation, but the 2nd bottom low was lower than the 1st bottom's low. Let's see whether this double top works or not !!!! Entry only after the breakdown of the white dashed trendline.. Target about 80 points according to double top pattern.(760 level) SL above the high of the breakdown candle...(only closing price) Note - Just sharing my view....not a tip nor advice!!!!
PShort
by mmjimm
LT inside a Inverted Cup & Handle Pattern ???!!!!Chart Patterns suggesting me to go with the above titled opinion !!! Reasons 1. Dec 21,22,23 daily candles with volumes suggesting the bears entry .(Dec 23rd candle being breakdown candle of trendline from june 2022). 2. Follow up candles on DEC 26,27 show bulls regaining back but LACK OF VOLUMES SHOWS THEIR WEAKNESS!!! 3. Coming to 2hr timeframe, it is looking like the formation of Inverted Cup & Handle (Handle in progress). 4. We can make our entry , after a 2hr bearish candle breaking down of the white trendline. 5. SL(2hr closing ) and Target levels mentioned @ chart !! Remember, ENTRY ONLY AFTER BREAKDOWN. Let's wait and watch how it moves!!! Note - Just sharing my view....not a tip nor advice!!!
NSE:LTShort
by mmjimm
3
H&S pattern in HINDUNILVR ???!!!!Chart depicts the situation... Strong DOJI candle on 9th december(day candle) with volume at perfect resistance level shows some sort of lag in bulls approach, which may leave space for bears to get back to go through a down swing move inside the triangular primary channel.(clearly seen in weekly time frame) Now, coming to 2hr time frame, 1. Head and Shoulders pattern (right shoulder in progress..) 2. Entry can be after breakdown after the right shoulder. 3. Risky entry can be now....with a SL ON 2HR CANDLE CLOSING ABOVE 2721. 4. Target levels as mentioned in chart. Let's wait and watch ...how it moves...!!! Note- just sharing my view....not a tip nor advice!!!
NSE:HINDUNILVRShort
by mmjimm