Nifty is forming descending triangle pattern, so we will wait till nifty gives breakout from this pattern for going long
and will wait for breakdown below 16850 to go short as there is four bottoms .More probability is of breakout.
Nifty Making Descending Triangle Pattern
WHAT IS A DESCENDING TRIANGLE?
The descending triangle is a bearish pattern that is characterized by a descending upper trendline and a flat lower trendline that acts as support. This pattern indicates that sellers are more aggressive than buyers as the price continues to make lower highs. The pattern completes itself...