DESCENDING TRIANGLE UPDATED
- Intraday Descending triangle gave a short trade.
- Decent gains for bulls might come only if they manage to stay above 4893 levels.
- 5 Minutes chart with a descending triangle, If goes by the rules it should give a breakdown.
- Nifty was unable to fade the gap in the first attempt and went back to day low as discussed below.
- Break of day low may take nifty towards 4800 or below it
- If day low holds we may see another intraday up move.
- CLICK THE CHART to enlarge
- Short term reversal possible only on a close above 4932.
- Failing to fill today's GAP means today's lows getting tested again.
- CRUDE OIL NEGATIVE DIVERGENCE TRADE