July 12, 2010

Nifty consolidation and break outs


  • See how nifty makes a consolidation pattern in hourly and gap's up in the morning.
  • The hour consolidations did not give an intraday entry.
  • The hour chart formed a base pattern when it was trading around 5235-5240. And from there it gaped up. then two consolidation patterns which gave break outs by gap ups.
  • So conclusion when in an up trend hold on to your long positions with trailing stop losses and booking partial profits. 
  • Nifty weekly chart analysis.
  • Bank nifty resistance zone

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