DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
Monday, October 24, 2011
FOLLOW UP NIFTY ASCENDING TRIANGLE
The making of ascending triangle posted here http://kolhapuritrader.blogspot.com/2011/10/nifty-ascending-triangle-5-minute-chart.html failed since instead of breaking out it broken down as shown in following chart.
Also note the NEGATIVE DIVERGENCE of rsi indicator ( i.e. indicator is making lower low, while price is making higher high) which is bearish one, so looks like it will target near todays low i.e. 5113-5115.STOP LOSS SHOULD BE CLOSE ABOVE 5145.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
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