Monday, July 13, 2009

Flag and Pole in Nifty Futures - 13th Jul 09


Nifty Futures forming a good Flag and Pole pattern near crucial support levels. Flag is formed in a very good symmetric triangle. Above is the 5 min chart. Watch out for good volumes at breakout or breakdown.

Will update target values once we have a breakout or breakdown.

Update 12:00 PM:
Triangle gave a Breakdown with volumes. First target is 3905 and the second target is 3760 levels.

Update 12:08 PM :
First target reached :)

Update 1:45 PM:
Stop loss hit for the second target badly

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