Nifty is hanging on the cliff - views please

Prabhjeet

Prabhjeet

Well-Known Member
#1
#1
Nifty is showing really ominous signs on weekly charts, looks like it has formed a descending triangle and within a week or 2 we are either goin to break out or break down from it with the bias towards breaking down.

I am not master at reading charts, others can freely post their views
 

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mahesh2007

mahesh2007

Active Member
#2
#2
prabhjeetrana said:
Nifty is showing really ominous signs on weekly charts, looks like it has formed a descending triangle and within a week or 2 we are either goin to break out or break down from it with the bias towards breaking down.

I am not master at reading charts, others can freely post their views
Click to expand...
Your charts are missing volumes. Ebbing volume towards apex indicates fizzling out of the trend intensity.;)

Any way hope for breakout if u are long or vice versa.:D:D
 
sudoku1

sudoku1

Well-Known Member
#3
#3
prabhjeetrana said:
Nifty is showing really ominous signs on weekly charts, looks like it has formed a descending triangle and within a week or 2 we are either goin to break out or break down from it with the bias towards breaking down.

I am not master at reading charts, others can freely post their views
Click to expand...
nifty was on CLIFF in JAN 2008......now the water is just below its nose:D
 
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