Triangle breakout/breakdown for august 12 expiry in Nifty
Nifty formed a lower low in daily time frame today and also gave a good recovery from lower low of 16162.
Resistance zone 16360 is hit 3 times till now and it is weak, so does the gap support zone from 16140-16162. Support was also hit 3 times.
As it closed at the center of 16160-16360, it has formed a triangle pattern to help us the direction it will take tomorrow, can guide us for expiry trade and future as well.
Happy trading.
I am short only because it formed lower low! let us see tomorrow where it finishes!
Thanks all
Resistance zone 16360 is hit 3 times till now and it is weak, so does the gap support zone from 16140-16162. Support was also hit 3 times.
As it closed at the center of 16160-16360, it has formed a triangle pattern to help us the direction it will take tomorrow, can guide us for expiry trade and future as well.
Happy trading.
I am short only because it formed lower low! let us see tomorrow where it finishes!
Thanks all
Comment:
clear breakout on the upside!