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Bearish BAT Pattern in Bank Nifty Futures

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

Source:
http://www.marketcalls.in

This entry was posted on December 22, 2009 at 1:58 pm and is filed under Harmonic Pattern. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

5 Responses to “Bearish BAT Pattern in Bank Nifty Futures”

  1. mgv Says:
    December 22, 2009 at 3:53 pm | Reply

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

  2. Navnnit Says:
    December 22, 2009 at 5:17 pm | Reply

    Hi Rajandran,Its also known as Gartley bearish pattern (W-whipsaw) shape and reverse is known as Gartley bullish pattern (M-Money)Rgds,Navnit

  3. Rajandran Says:
    December 22, 2009 at 6:31 pm | Reply

    Yeah Thanks! Navannit for the info

  4. sanket Mody Says:
    December 22, 2009 at 6:53 pm | Reply

    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

  5. Rajandran Rajarathinam Says:
    December 22, 2009 at 6:59 pm | Reply

    @Sanket.Yeah 160 is the point where GANN Resistance comes.

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