NIFTY-last leg of Sell of-Bottom Soon-Accumulation zone Start
i have updated weekly chart of the nifty
i have labeled two formation
Head and shoulder (Green colored)
Triangle (Blue Colored)
There are two possible triangles
BARRIER TRIANGLE formation= D leg maximum can retrace up to B leg which is 5566 and E in upside to start
CONTRACTING TRIANGLE formation = D leg should complete before reaching towards B leg means bottom before 5566 and E in upside to start
in above both cases i am seeing accumulation zone up to 5566 and then rally in form of TRIANGLE leg E towards 6094 maximum and then pattern will breakdown into down side along with clear head and shoulder pattern.
will update when what will be the action after the pattern when it will require ,currently i am focusing on accumulation and end of D and start of E leg
We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.
I don't know whether you and I should expect such low levels but the Charting Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.
This is only for education and Information only,please consult your financial adviseror Before Trading and investments in market.
Thanks And Regards
Nishesh jani
Professional Trader & Investor
www.zerodelta.in
i have updated weekly chart of the nifty
i have labeled two formation
Head and shoulder (Green colored)
Triangle (Blue Colored)
There are two possible triangles
BARRIER TRIANGLE formation= D leg maximum can retrace up to B leg which is 5566 and E in upside to start
CONTRACTING TRIANGLE formation = D leg should complete before reaching towards B leg means bottom before 5566 and E in upside to start
in above both cases i am seeing accumulation zone up to 5566 and then rally in form of TRIANGLE leg E towards 6094 maximum and then pattern will breakdown into down side along with clear head and shoulder pattern.
will update when what will be the action after the pattern when it will require ,currently i am focusing on accumulation and end of D and start of E leg
We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.
I don't know whether you and I should expect such low levels but the Charting Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.
This is only for education and Information only,please consult your financial adviseror Before Trading and investments in market.
Thanks And Regards
Nishesh jani
Professional Trader & Investor
www.zerodelta.in
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