Nifty-EOD Chart(16-Dec-2011):-
Technical Patterns and Formations in EOD charts
1- 13 Months correction
2- Trend reversal Broadening Pattern formation in 89 Sessions at the bottom of 13 months correction.
Conclusions
Closing at the lowest of 89 Sessions Trend reversal Broadening Pattern but Up moves hopes are alive because pattern is still intact. If Nifty sustaining below 4629 or forcefully breaking down in the coming couple of sessions then Indian markets will crash like World Trade Centre on 11-09-2001.
 |
| Just click on chart for its enlarged view |
1- 13 Months correction
2- Trend reversal Broadening Pattern formation in 89 Sessions at the bottom of 13 months correction.
Conclusions
Closing at the lowest of 89 Sessions Trend reversal Broadening Pattern but Up moves hopes are alive because pattern is still intact. If Nifty sustaining below 4629 or forcefully breaking down in the coming couple of sessions then Indian markets will crash like World Trade Centre on 11-09-2001.