iCharts Discussions

[saikat]

We might have completed making the right shoulders today (4th Sept)
This pattern will fail if we close above 4540. And breaking below 4200 ........ free fall to 3750

Let's be with the trend

Regards,

Saikat

[daytrader007]

Saikat,

I do not think NIFTY (spot) is making H&S. If we take, NF future chart, then it confirms that we might have made right shoulder at 4544. Break down level comes around 4250 NF. IF breaks, then 3850 NF as per the pattern. Negation will be above 4654 NF.

Dow has cracked 11350 yesterday, now I think 11000 will under threat.

Also RIL will be threat for our market.


Best wishes,
swdas

[saikat]

Hi Swdas,

Bit confused seeing your reply. You said Spot not making H&S but Future making - is that you meant?

I clearly see spot also making same pattern, and as you know I always see the Underlying's chart.

Anyway I think we both are having similar view.

thanks

Saikat

[saikat]

Wow!!! Target achieved in 4 straight days

We may now bounce back quickly to the neckline or thereafter to 4290 may be even.

Lets be with the Trend

Regards,

Saikat