Stock Market Humour

Target Achieved-Cover the Nifty Short Position

I had suggested to short Nifty Aug Fut on 4622 in my 5th May blog,target to cover the short position was given on 4286 level.I am quite happy that this target got hit today .

Per lot has given the profit of Rs.16,800.

Popular Chart Pattern

Double Top (Reversal)

Double Bottom (Reversal)

Head and Shoulders Top (Reversal)

Head and Shoulders Bottom (Reversal)

Falling Wedge (Reversal)

Rising Wedge (Reversal)

Rounding Bottom (Reversal)

Triple Top (Reversal)

Triple Bottom (Reversal)

Bump and Run Reversal (Reversal)

Flag, Pennant (Continuation)

Symmetrical Triangle (Continuation)

Ascending Triangle (Continuation)

Descending Triangle (Continuation)

Rectangle (Continuation)

Price Channel (Continuation)

Measured Move - Bullish (Continuation)

Measured Move - Bearish (Continuation)

Cup with Handle (Continuation)

Short Nifty..

I suggest my readers to short Nifty fut(Aug), Currently,Nifty fut (Aug) is trading on 4622.
As you can see on the daily chart above,the falling trendline is a very important resistance for the moving index.The double bottom(reversal)pattern can also be seen as well.First target to cover is 4286 with a strict stop loss of 4671.