The Chart Reader: Symmetric triangle in Nifty

Friday, August 28, 2009

Symmetric triangle in Nifty - 28th Aug

Author: Doji
Labels: Nifty, Symmetric Triangle
3 comments

Update at 1:30P.M:

out all at 4664

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Update at 1:05 P.M:

Target reached for the triangle.
PS: booked 25 % more in short trade.

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Update at 12:45 P.M:
Booked 50% profits at 4660, still only 8 more points to go.

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Nifty Intraday chart - 5 mins:

Nifty formed a symmetric triangle with declining volumes. Break out or break down with confirming volumes may give the target of height of the triangle(35 points).