August 5, 2010

NIFTY FLAG Pattern in 15 minutes chart

UPDATED CHART

  • Nifty seems to be trading in a flag pattern after the break out from 5453 area. 
  • Now it is consolidation between 5466 and 5486 making it a bullish flag pattern.
  • If the index moves below 5466 the pattern will be invalid.
  • A break out of the above trend line can give at least 40 points from the break out area
By at

3 comments:

  1. assortZAugust 5, 2010 at 3:09 PM

    Hi san

    are we making inverted hammer on daily chart?

    ReplyDelete
  2. assortZAugust 5, 2010 at 3:16 PM

    sorry..shooting star?

    ReplyDelete
  3. SanAugust 5, 2010 at 3:55 PM

    @assortZ
    I will update the charts tonight. If there is anything i will mention it.

    Thank you

    ReplyDelete

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