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Nifty is hanging on the cliff - views please

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  #1  
Old 19th June 2008, 01:41 PM
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Default Nifty is hanging on the cliff - views please

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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Old 19th June 2008, 03:57 PM
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Talking Re: Nifty is hanging on the cliff - views please

Quote:
Originally Posted by prabhjeetrana View Post
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
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.
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Old 19th June 2008, 03:59 PM
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Default Re: Nifty is hanging on the cliff - views please

Quote:
Originally Posted by prabhjeetrana View Post
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
nifty was on CLIFF in JAN 2008......now the water is just below its nose
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