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- Triangle formation in nifty futures hourly chart.
- I feel if the positional bull in nifty is to survive this pattern breakout should be a failed one.
- As long as the price does not close above the bottom line of the triangle the bears will stay alive for the next down move.
- when the entire world is in pain it is odd for the nifty to be resilient like this.
- I think this is a bull trap.
hi san!!
ReplyDeletehow r u?
can u just look at idfc and describe the chart now..
seems to give breakout..
thanks n regards
imran
Hai Imran
ReplyDeleteI just saw the intraday chart. It has given a nice move today. Watch out for the closing price. closing at the high of the day should indicate strength.
hi san, i got some profits through hpcl. thanks for that. now i watched the traingle of nifty and ur views. how we calculate our trades with this triangle pattern. triangle touches at 5312 levels and bottom line at 5253. what does it means, can we keep shorts with sl at above 5320level
ReplyDelete@ravi
ReplyDeleteIf the price re enters the triangle than it will become a failed break out. Look for a close inside the triangle to exit the shorts.