Stocks For Intraday

NIFTY LEVELS

Monday 24 October 2016

Nifty- Possible Running Triangle in B-Wave (Premature).

Nifty- Possible Running Triangle in B-Wave (Premature).


From the Bottoms@8505 lows- Possibly we could be travelling into B-wave Running Triangle, which is premature to consider & an upside thrust above 8727 highs will be expected -if this turns out to be a triangle.

I will confirm a running triangle if Nifty -0.07% spends some more time tomorrow between highs@8727 & lows@8650 without breaking either side- that is what a triangle always does to consume time & trap traders on both fronts.

Running Triangle is the scenario is a wild guess which will be confirmed in coming sessions -if above criteria are satisfied.



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Running Triangle
Triangle always have 5 internal legs, but the difference between running triangle & normal triangle is b-wave. b- wave of the running triangle will always go beyond the origin of a-wave start -in our case a-wave of triangle started at 8699 highs & b-wave travelled till 8727.

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