Hi,
Click on chart to See above chart. In my last post I hinted that a pattern is in progress. As pattern has given bearish breakout, it's a sell on rise and best range to SELL is 4770-90 spot with StopLoss, for this particular pattern is, 4905 spot. Yes Yes I can hear you are asking what's the possible TARGET ;). 1st tgt - 4300/4325 spot. Closing below this 4100.
Now, For the investor/trader who use TA. The bearish pattern was in progress was H&S,in nifty.What is more bearish is that it didn't get time to form right shoulder. Though sometime it is seen that it again go to the range n form right shoulder, but, seeing the overall situation as you can see after break out closing below horizantal line, next day nifty pulled back to the line and friday down closing confirm breakout. Now target for this pattern are two. 1st is the left shoulder, distance of that high from horizantal line and 2nd target is from so called head which I have market on graph. Hope this is enough. If you have any query you are welcome to comment.
Kailash Pareek (johnny)
http://www.moneybulls.blogspot.com/
Now, For the investor/trader who use TA. The bearish pattern was in progress was H&S,in nifty.What is more bearish is that it didn't get time to form right shoulder. Though sometime it is seen that it again go to the range n form right shoulder, but, seeing the overall situation as you can see after break out closing below horizantal line, next day nifty pulled back to the line and friday down closing confirm breakout. Now target for this pattern are two. 1st is the left shoulder, distance of that high from horizantal line and 2nd target is from so called head which I have market on graph. Hope this is enough. If you have any query you are welcome to comment.
Kailash Pareek (johnny)
http://www.moneybulls.blogspot.com/
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