NIFTY Ready for a Down Swing move ??!!!
Chart pattern insist me the above titled opinion
REASONS
1. NIFTY has been trading inside a Descending channel pattern creating lower highs and lower lows
2. Right now, it is at the resistance level(top of descending channel)
3. Day close above 18260 will pave way for the bulls
4. Safe SL can be Day candle closing out of the Descending channel
5. Target levels mentioned @ chart
6. In hourly time frame, Head & Shoulders pattern is evolving(right shoulder in formation)
7. Better to enter after the H&S BREAKDOWN!!!(BELOW THE BLUE TREND LINE)(ATTACHED BELOW)
8. In addition to the above stated , BEARISH HARAMI(JAN 18 AND 19 DAY CANDLES COMBINED) adds more to the PROBABLITY OF DOWBN MOVE!!!!!
Bank Nifty too travelling in a similar descending pattern (shown below)
Let's wait & watch how it moves!!!!
REASONS
1. NIFTY has been trading inside a Descending channel pattern creating lower highs and lower lows
2. Right now, it is at the resistance level(top of descending channel)
3. Day close above 18260 will pave way for the bulls
4. Safe SL can be Day candle closing out of the Descending channel
5. Target levels mentioned @ chart
6. In hourly time frame, Head & Shoulders pattern is evolving(right shoulder in formation)
7. Better to enter after the H&S BREAKDOWN!!!(BELOW THE BLUE TREND LINE)(ATTACHED BELOW)
8. In addition to the above stated , BEARISH HARAMI(JAN 18 AND 19 DAY CANDLES COMBINED) adds more to the PROBABLITY OF DOWBN MOVE!!!!!
Bank Nifty too travelling in a similar descending pattern (shown below)
Let's wait & watch how it moves!!!!
Nota
Tmrw candle can be the decider!!!Trade attivo
What a move!!! H&S target achieved !!!Respecting the Channel in Daily timeframe!!!
Trade attivo
Target 1 done!!!!Trade chiuso: obiettivo raggiunto
target 2 done!!!17400 key support!!1
Nota
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.