May 12, 2010

NIFTY hourly chart continuation pattern


  • Hourly chart shows the formation of a continuation pattern targeting 5300+
  • But we have big resistances on the way
  • if it does not fall below 5140 it will be bullish.
thank you


  1. slight bullish undercurrent seen
    but global cues could make it negligible

  2. hey San,

    this seems to be Bullish Flag... am i right??

  3. is it advisable to re trade a trade, if SL hits, like in our case nifty surges ahead oafter taking our SL, please suggest
    i am not talking todays nifty s trade specifically, but what i am asking u is IN GENERAL
    , shall we re generate a trade after it hits our SL

    more over
    ashok leyland is most likely to close over 66 as mentioned by u, what shud be our targets and since 66 is crossed convincingly, can a trade be taken into it

  4. @everyone
    I was busy with personal work so could not reply to any one.

    If your stop loss is hit you have to close your position and wait for the next opportunity or pattern to give you trade. Market will always give you great opportunities. But you should have the patience to wait for them.

    this is a bullish flag but the trade did not work. Stop loss hit.

    you can enter at 66-67 take a trade with 64 as stop loss.