Bearish BAT Pattern in Bank Nifty Futures
[12/22/2009 06:58:00 PM | 6 comments ]

15 min charts of Bank Nifty futures shows a bearish Bat Pattern(Harmonic Pattern)
Which indicates a near term weakness. I'd like to once again keep an observation
on this chart. Now the Ideal trade should be wait for the overhead resistance 8760 to hold
and short it with stop loss just above that

6 comments

minesh said... @ December 22, 2009 at 8:53 PM

These patterns are changing continuously..so it is difficult to trade them..
Is there any remedy ??

Navnnit said... @ December 22, 2009 at 10:17 PM

Hi Rajandran,

Its also known as Gartley bearish pattern (W-whipsaw) shape and reverse is known as Gartley bullish pattern (M-Money)

Rgds,
Navnit

Rajandran said... @ December 22, 2009 at 11:31 PM

Yeah Thanks! Navannit for the info

Unknown said... @ December 22, 2009 at 11:53 PM

have short IDFC futures as per the GANN chart at 150. Any updates on that or should I hold with a stop of 160.

thanks

Rajandran said... @ December 22, 2009 at 11:59 PM

@Sanket.

Yeah 160 is the point where GANN Resistance comes.

Pradeep said... @ December 23, 2009 at 5:12 PM
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