iCharts Discussions

manu_5123454 · White Belt Joined: 22 Oct 2009 Posts: 91

we got a very good Bullish Hammer candle with Piercing candle in Nifty fut. chart which indicates short term bullish till 5550 levels . Today bounce back gave a some confidence to add buying position at lower levels which could be near 5320 levels in Nifty spot. so here i hope nifty spot may make a Bearish Butterfly pattern then fall.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

soabove which level this gets defeated?

manu_5123454 · White Belt Joined: 22 Oct 2009 Posts: 91

manu_5123454 · White Belt Joined: 22 Oct 2009 Posts: 91

This is my expectation NIFTY could move according to my view , if it is that so then will be very bearish after getting a bearish candle near D levels of bearish butterfly pattern on the daily closing basis .

But buying from 5300-20 levels it depends totally on EW theory basis where A and B wave has been completed and C wave should be near 5500 levels .So near 5300 SL will be min. ( low risk to add buying position)

saumya12 · Brown Belt Joined: 21 Dec 2011 Posts: 1509

Nifty has formed a Bullish Butterfly Pattern.

apka · Black Belt Joined: 13 Dec 2011 Posts: 6137

nice one Saumya.

Now so many patterns, all the more confusing what will happen.