NSE:TATAMOTORS is forming Double Top or you can say M pattern on 15 min chart .. which is considered as extremely bearish. Levels are mentioned in the chart To be safe Short below : 289 Target : 282 or below P.s : I am still in learning phase ... all the critics are appreciated .. please let me know if i am wrong. Note : This is for educational purpose...
As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly. The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting...
There were 2 strong indications to go short on Nifty: 1. M pattern (Double top) forming around 15,230. 2. TrendLine break and last kiss was also seen. The target logically was the last region of consolidation where I expected Nifty to find support, which was around 15,100. The market has been range bound since the post budget rally and is finding it difficult...
Nifty formed double top or M pattern on Daily Chart Will there be a Correction continuation or a Big Crash coming like last year??? Rsi Divergence too strengthening the idea of huge correction atleast 10% or 14000 points
M pattern has formed Sell @ 144.60 SL above 146 Targets would be 142 and 139.50 DISCLAIMER : This is just for educational purpose...
BANKNIFTY | Looks like losing momentum Aggressive players - Can try shorting near 29550 zone, with small SL. Conservative player can short below the channel. Double Top, RSI Negative divergence - HDFCBANK looks weakening.