Nifty Intraday Chart - 5 mins:Nifty opened gap down of 20 points, reaching the first target of
Bearish Gartley. It took support from exactly 4527 levels which I have mentioned in
morning post, and started moving up with low volumes forming a Head and Shoulders pattern. It gave a break down from the neckline with good volumes, and reached the target immediately. Also it reached the second target of Gartley in the same down move.
It took support by closing the Gap formed on 23rd July and formed an Ascending Triangle with trailing Narrow Range, target of which is reached in intraday itself. Over all a good day, got good reversal entry at the top most point of the down move yesterday :)
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