Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter http://twitter.com/#!/lucksr

Tuesday, October 8, 2013

Whither Nifty ?


Nifty Daily Chart




 I  found a potential Inverted head and shoulder pattern which could have bullish implications. But the right shoulder has formed into a Diamond pattern which if broken down could be a bearish reversal pattern ! Watch the patterns to position yourself !


For Subscriptions to the Daily Nifty and Bank Nifty Analysis write to vipreetsafetrading@gmail.com



follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

5 comments:

sachinadvai said...

Hi Mam

Is Diamond a Bearish Pattern or a continuation Pattern ??
I see Nifty going to a New High pretty soon, 6500+ to be precise.

Regards
Sachin

sachinadvai said...

Hi Mam

Is diamond Pattern a Bearish Pattern or a Continuation Pattern ?
I see Nifty going to a New High pretty soon, 6500+ to be precise.

Regards
Sachin

dinesh said...

Nifty broke 5900 today but closed much higher. breaking out. your comments on whether the diamond pattern is still valid.

dinesh said...

After the breakout today, id the diamond pattern still valid. Please ignore if the previous comment was received

dinesh

Lakshmi Ramachandran said...

Diamonds are also continuation patterns.But when near strong resistance and tops like it is now it normally should be a reversal.However, with Nifty breaking out upwards the Diamond pattern is almost invalidated.Need to see today's action