March 23, 2011

Triangle and Channel of Nifty Futures

  • First chart shows the triangle pattern in four hour time frame which is yet to give direction.
  • Next chart shows nifty in a small channel within a larger pattern.
  • Today's move is likely to get exhausted at the resistance line of the small channel. 
  • If price break out of the small channel Nifty may target the resistance line of the larger pattern which is above 5600 level.

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