Hi All,
After a stupendous run, Nifty showed reluctance to move forward the 9300 mark... after trading sideways for a while in 9000-9200 range.
However, as a sad news for bulls, on weekly charts Nifty has formed a Shooting Star Pattern, a bearish reversal pattern which will get confirmed below 9180.
So, breaking 9175-9150 can mean a short term bear trend for Nifty with possible targets on the lower side near 9000-8970-8890
Request traders to go short only and only if Nifty breaks the mentioned support zones....
After a stupendous run, Nifty showed reluctance to move forward the 9300 mark... after trading sideways for a while in 9000-9200 range.
However, as a sad news for bulls, on weekly charts Nifty has formed a Shooting Star Pattern, a bearish reversal pattern which will get confirmed below 9180.
So, breaking 9175-9150 can mean a short term bear trend for Nifty with possible targets on the lower side near 9000-8970-8890
Request traders to go short only and only if Nifty breaks the mentioned support zones....
