Jan 10 ::----Bears still have hopes . Nifty futures resisted at the trend line . Also thats exactly 50% retracement. Bollinger bands are also touched. Pattern of a falling wedge . But 1 more wave down looks more possible to complete a 5 wave down move.
And the carry AUD/USD pair chart . That risen very high and so we are seeing this rally. But the hourly RSI is overbought . Also touched important resistance line.
I am at a loss position in my SHORTS. But i will be holding till this FRIDAY. Atleast 4690 should be touched again if not lower.
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My best guess . Nifty is doing the TRIANGLE as shown below . So i will target 4640 first.
To support my bearishness , AUD /USD pair has broken important trend line support and should be going down for a couple of sessions more. Also moving in a down ward channel.
And the carry AUD/USD pair chart . That risen very high and so we are seeing this rally. But the hourly RSI is overbought . Also touched important resistance line.
I am at a loss position in my SHORTS. But i will be holding till this FRIDAY. Atleast 4690 should be touched again if not lower.
======================================================================================================
My best guess . Nifty is doing the TRIANGLE as shown below . So i will target 4640 first.
To support my bearishness , AUD /USD pair has broken important trend line support and should be going down for a couple of sessions more. Also moving in a down ward channel.
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