CHART-III
- A triangle that worked perfectly after a long time. Look how it also looks like a sloping head and shoulders pattern which increased its bearishness
CHART-II
CHART-I
- Nifty 15 Minutes is trying to put up a triangle pattern.
- Breakout from this pattern may give good direction.
- One should also expect whipsaw's.
if Nifty spot closes below 5610 then this bearish pattern will get confirmed but as San said there may be whipsaws so if nifty comes to 5610-5615 nearby on Monday-Tuesday & takes support then only this rally will survive otherwise more downtrend.Our market always surprises everyone. When analysts were telling 4800 will come when nifty was at 5300 we are seeing 5750 levels in just 10-15 days. So our mkt always surprises & we should be prepared for that.
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