May 17, 2011

NIFTY Range getting narrow

  • Weekly chart shows price at an important trend line. May give whipsaw before nifty takes the bigger direction.
  • Daily line chart shows price range getting narrow. Price should try to escape from the apex of this pattern.
  • DOW JONES EOD ANALYSIS
By at

2 comments:

  1. TKDKMay 17, 2011 at 10:01 AM

    Ascending Triangle. Breakout on upside?? Larger trend is downward, did you mean whipsaw on upside due to triangle breakout in a downtrend??....

    ReplyDelete
  2. SanMay 17, 2011 at 12:00 PM

    @TKDK
    I was talking about the Bear flag that was shown in the weekend update. Bear flag has to break down. But a whipsaw on the upside is possible.

    ReplyDelete

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