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
Note
clear breakout on the upside!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.