August 19, 2011

NIFTY 5 Minutes chart

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.
CHART-III
  • 5 Minutes chart with a descending triangle, If goes by the rules it should give a breakdown. 
CHART-II UPDATED
  • 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.
CHART-I
  • 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

1 comment: