A very large movement in both side is expected. There is kind of H&S pattern is under formation. So if Nifty 0.30% crosses above 10180 then a blast move will be seen.
Or if it goes down to 9900 and comes back and crosses 10145 then it will going to break all previous highs to 11150.
If Nifty closes below 9935 then a confirmed breakdown and bull trap strategy is happening. It may drop to 9700 - 9400. A Double Top formation may occur.
If Nifty closes above 10150 then 10400-1070 will be seen.
nifty is going without conviction RSI and MACD is giving WEAKNESS signal and a DOUBLE TOP or Elliot Wave 5-A-B formation until it crosses 10138 with huge volume.
Sell Below 9950. If it happens means a BULL TRAP is progressing. Watch Level 9950.
Short Below 9940 tgt 1 9856 tgt 2 9925 tgt3 9894 sl will be 9968 and change accordingly trend following in profit protection. If in any case 9840 hits then keep short position with higher stoploss to gain more profit .
downtrend starts at 9855 ---- stop loss will be 9905 ---- tgt 9717-9680
The diamond top and bottom are reversal patterns. It represents a rally to a new high with a drop to a support level followed by a rally to make a new high and a quick decline, breaking the support level to make a higher low. The bounce from the higher low is then followed ...