August 31, 2016

Nifty Trend, the Diamond and Month Chart Analysis

  • Nifty daily time frame shows price making another Higher Highs. Trend continues to remain strong. Unless bears get a Lower low chances of a sustained fall will not start.
  • The Diamond pattern. When price enters from below the pattern it mostly exits on the opposite side. Not a strict rule but most of the time it results in such moves. This pattern though managed to trap many traders on the down side before the larger trend resumed. 
  • Month chart shows the 6th Bullish candle being formed. The momentum in this time frame likely to take price towards the resistance zone shown 
  • NIFTY INTRADAY UPDATE
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2 comments:

  1. Really Nice analysis.. Thank You Sam

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  2. Comprehensive. Thank you for your daily charts

    ReplyDelete