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Triangle

Triangle on NiftyTriangle with flat top at 6340-6360 was observed on Nifty during 2008-2013. That almost coincides with UPA II. A break out happened in March 2014 to achieve exact 61.8% level at 9120. I'm excited because this is the first triangle I am trying to interpret, and it gave very encouraging results. What makes this interesting are the break-out attempts as soon as Narendra Modi was announced as BJP prime ministerial candidate, and real break out during the election season - opinion polls and campaigning. We all know that the results were not a big surprise, just the non-dependence on allies of NDA II was the surprise. Who would have thought, behind such a political upheaval, there would be a simple chartist explanation !! This idea is the first in series of three historical patterns observed on Nifty. Please feel free to share our comments / opinions.
NSE:NIFTYEducation
by DushyantAM
Nifty Symmetric Triangle PatternNifty has been trading in an range since December with top 11000 and bottom 10330. It has formed a symmetric triangle in daily charts and head and shoulders on weekly charts. Breakout or breakdown in such scenario has to be big. Further movement will be confirmed basis the closure above 10940 or below 10584. Trading below the bullish trendline (green) may make nifty see lower levels. Apart from this weekly charts also sees a head and shoulder pattern which was published earlier. Stay cautious with your positions. Hedge it properly if you are long or short.
NSE:NIFTYEducation
by TradersVenue
NIFTY INDEX VIEW FOR THE MONTHNOTE:- Traders,viewers and other analyst are free to express their opinion and suggestions regarding this article. View on the Index NIfty has formed an sysmmetrical triangle on a daily chart and it is confirmed!!. So a break above 10930 on closing basis shall confirm the uptrend towards 11080. If i am wrong then we shall use the upward sloping trendline as to exit the trade. Reasons for a upside breakout Note that i had given a long trade on banknifty on thursday on the basis of crucial support nearing and the "GOLDEN CROSS". 10700 nifty put option has seen great amount of put writing and call unwinding. Although 10800 call option has seen some writing but the initial opening of the index above 10830 shall spook them. That will be confirmed once market sustains above 10774-10830 for inital hour that will lead to some serious short covering. If you notice the small picture you can see a clear trend emerging for e.g the 20-dma is about to cross the 200-dma but the bigger picture is where the 50-dma is evenutally rising and will finally cross the 200-dma in fews days time(15-20 days period) giving as a "Golden Cross". Shorts might get trap,Symmetrical triangle breakout can be expected on the upside and moving averages showing us a picture. PLEASE NOTE "I MIGHT BE WRONG TRADE WITH YOUR OWN DISCRETION WITH STRICT STOPLOSSES"
NSE:NIFTYEducation
by manavtechresearch
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