NIFTYNifty 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.
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Happy Trading!
Note
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.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.