March 14, 2011

BANK NIFTY Diamond pattern

  • First chart shown is the range of bank nifty in weekly Time frame. This range should be resolved for a convincing move to happen.
  •  2nd chart shows a possible Diamond pattern in daily chart. This pattern is know to be bearish. But Remember A Diamond can make a bottom formation as well. So go short only if the support line of the Diamond breaks.
By at

2 comments:

  1. MeharMarch 14, 2011 at 2:45 PM

    Hi,
    Can you pls look into 60 min charts on Nifty Spot and post your view on that.. looks like there will be resistance here @ 5520 levels....
    Thnq

    ReplyDelete
  2. SanMarch 14, 2011 at 6:59 PM

    @Mehar

    Sorry Mehar could not update the chart because of my Schedule.

    ReplyDelete

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