NIFTY50 DESCENDING TRIANGLE

NIFTY

Nifty have formed a descending triangle pattern.

and today it opened above the upper resistance trendline and 18000 mark but it gets rejected and reversed sharply, a strong indication of a bearish move
if it breaks the 17800 support zone then a more bearish move is expected. as it has hunted short-term traders stop loss and moving into a narrow range.
as its a descending triangle the breakout should be on the downside.
INDIAVIX has also spiked up today indicating a fear in market.


Below 17750 is a good shorting opportunity.

I Hope you found this helpful.
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Keep Learning,
Happy Trading!

Commento:

Not triggered, the view got wrong market went up above 18k mark instead of breakdown lets see if the level sustained in the upcoming sessions.