The Nifty Seems To Be In The Mood of Hitting The LOWER END Of The BROADENING PATTERN Without Getting Much Fight From The Bulls
NIFTY Is at 100 DMA As On Yesterday And Last Time When NIFTY Touched 100 DMA It was A Buying Opportunity But The Structure Of Fall At That Time Was Not As Severe As it is Now
So Unless NIFTY Future Closes Above 8190 One Can Not Say That The Supports Have Worked
More Confirmation Will be On A Close Above 8290
As Nifty Was In A Broadening Pattern USDINR Was Developing A Completely Reverse --CONE SHAPE Price Pattern And It has Broken Out Of it As Well
A BIG WARNING For Nifty ?
Lets Observe Nifty Further
BROADENING Pattern Can Prove To be A REVERSAL Pattern Too
NIFTY Is at 100 DMA As On Yesterday And Last Time When NIFTY Touched 100 DMA It was A Buying Opportunity But The Structure Of Fall At That Time Was Not As Severe As it is Now
So Unless NIFTY Future Closes Above 8190 One Can Not Say That The Supports Have Worked
More Confirmation Will be On A Close Above 8290
As Nifty Was In A Broadening Pattern USDINR Was Developing A Completely Reverse --CONE SHAPE Price Pattern And It has Broken Out Of it As Well
A BIG WARNING For Nifty ?
Lets Observe Nifty Further
BROADENING Pattern Can Prove To be A REVERSAL Pattern Too
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