May 3, 2010

NIFTY triangles will give direction soon

NIFTY DAY CANDLESTICK CHART
NIFTY DAY LINE CHART
  • NIFTY daily chart is in a triangle 
  • one can follow the line chart, line chart may save one from a false break out. following line chart on a closing basis can give a good entry.
  • One can also see an inverted head and shoulder pattern. IHNS being a bullish pattern may give a clue to which side this triangle is going to break out. But 5300 will be hard to cross.

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