Monday, 28 July 2014

Mega phone chart pattern detected in Nifty


Nifty has run beautifully from low of 5933 formed on 4 Feb 2014 to high of 7840.95 on 25 July 2014. And in this entire run up except the period of March series and start of the May series up-to election result day, Nifty failed to convince the run. And bears hardly made money in these 5 months from March to July 2014.

Now there is something for bears to rejoice.

A chart pattern is forming which has very strong history of  giving big down moves. 

See the figure below : 

Now guess what can happen next ? 

Now see the figure below in continuation to first one : 

Nifty after some false movement towards 6100 tanked badly.

Now a beautiful mega-phone pattern is forming again. 

Will Nifty give a false a breakout towards 8000 and then fall, or it will first fall, then rise sharply ? 

We have spotted it beforehand, so will try to make use of this information in our trading.

Anjum S Khan

1 comment:

  1. Sir,

    False breakout towards "8000" ? Typo ?