Do you see what I see?
- Thread starter babukraman
- Start date
20110426 NIFTY
Image courtesy: Yahoo! Finance
It's obvious that there is a CnH pattern; very lovely sight indeed. However, we can look beyond the obvious.
In the inital hour trading, there's a downtrend; once this downtrend line is broken on the upside, then there's a tight range bound trading which again tested the day's low; the bounce off from here has taken out the Resistance of the range and this R turned S is retested for the ensuing rally. Prases such as "Ride the wave" and "Trend is your friend" are all apt for the action.