Unveiling the Intriguing Intraday Patterns of NIFTY on 28 Feb 24

28 Şub

1.Opening Range:The market opened flat with first few candles indicating that today might have two sided trading and then after forming a DOUBLE TOP BEAR FLAG as indicated in the below posts of 5 min NIFTY FUTURES chart it broke the opening range and this started a meltdown

2.Mid Day and Closing:The market gave a strong breakout around opening hours and the breakout was very strong to continue it to the close

Patterns which were tradable:
1.

A double confirmation after DOUBLE TOP bear flag and a failed attempt by the bulls to defend the sell off....

2.

In this chart the bears formed a higher high double top with the resistance level of the previous strong sell off...When the trend is clearly down just look for signals to sell not to BUY as the bears will try to shport every rise and the bulls will give up easily...

ANY DOUBTS RELATED TO PATTERN COMMENT BELOW I WILL BE READY TO HELP YOU GUYS!!!

Whether you're a seasoned trader or a curious observer, dissecting these intraday patterns offers valuable insights into market dynamics and potential trading strategies.Would you like to see more posts like this, or do you have any suggestions for changes or improvements? Your feedback is invaluable in shaping our future content! Let us know in the comments below

Happy Trading!!