Nifty trend

[Capricorn]

S @ 5760 , 5800-5850

R @ 5910-30 , 5980.

If the 5930-80 trade happens don't miss it.

Trade well.

 

[Capricorn]

Bias is up above 5750. Positional traders not to get shaken out.

 

[Capricorn]

S @ 5800 , 5830 , 5850

R @ 5890-5910-5930, ---6020.

Trade well.

 

[Capricorn]

That's the weekly. The upper T/L is not yet complete, but if it does we'll be in a huge triangle. I would be taking some money off the table. (Remember my long call @ 5200)

Have a nice weekend.

 

[timepass]

That's the weekly. The upper T/L is not yet complete, but if it does we'll be in a huge triangle.

Can you elaborate a bit for the noobs ? I guess you mean that the triangle will be complete when the upper meets the lower.. what then ? A downturn ?

 

[saivenkat]

With all settings perfect for downtrend of nifty ( looking at the weekly charts).
do you think.. soaring price of crude and Metals will add quick fuel in bringing nifty down?

 

[timepass]

I am not much of a chartist, but haven't we seen similar formation earlier ?

I mean when we look at the formation as it is taking place, we may see some similarities.

....................

 

[Capricorn]

Can you elaborate a bit for the noobs ? I guess you mean that the triangle will be complete when the upper meets the lower.. what then ? A downturn ?

The upper t.l will be complete when the 3 swing high's form. Yes expect a trip back to the lower T/L if that happens

 

[Capricorn]

With all settings perfect for downtrend of nifty ( looking at the weekly charts).
do you think.. soaring price of crude and Metals will add quick fuel in bringing nifty down?

We don't have a T/L yet . Whats the hurry....:lol:

 

[Capricorn]

I am not much of a chartist, but haven't we seen similar formation earlier ?

I mean when we look at the formation as it is taking place, we may see some similarities.

....................

The tl is not complete in that one either, so we wait...