Nifty Hourly : Will descending Triangle complete ?

NSE:NIFTY   Nifty 50 Index
We have news today which market has never expected : R3 won't be RBI governor for 2nd term.

That's Bad News, Atleast for Indian Economy & our banks which are high on NPA's. If I start on explaining this scenario & complex situation of our economy combined with Global scenes , it will go on, so let me cut here & jump back to what we do always - Analysis.

After the channel breakout , Nifty             go into ranging mode and if you guys remember our Bearish Crab targets are still to be reached around 8000's. But here is another chance for who missed it.

We have potential triangle formation but the inner moves offers us a chance to short. Check chart for targets,stops. Determine Entry after checking your risk-reward.

Happy Trading !
Comment: Gap Down as expected
Trade closed: stop reached: Stops hit, I am out of this trade
Bad day,
Cool..Everyone has losing its Mine, Its part of Game.
That's fine with me.
+1 Reply
You shud see my PM's, people are like - how you have gone wrong..Come on friends, I am trader & I will have losing trades :)
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8236- Is Fibonacci reenactment from previous high. It can act has resistance. You went out where nifty reversed last time .
if it broken decisively Next Fibonacci retrenchment is post 8400
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InsiderB ssujay11
There is Bearish Gartley pattern too, around 8250's to 70's, so I am waiting for 2mrw.
waiting for nifty to recover 8156.
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Yep, its happening :)
Nifty will open gap down, wait and watch,
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Yes, Same expectations Ambrish
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