Nifty 50 futures<\/h2>\n\n\n\nThe Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/Nifty-50-Failed-Breakout-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- Even after the strong bear breakout, bears should refrain from shorting the market because they were unable to get a follow-through.<\/li><\/ul>
- Because the bears who would have sold the market at the close of bar-1 are now trapped, there is a greater likelihood of a second leg up.<\/li><\/ul>\n
\n- Thus, bulls are able to purchase at the peak of the most recent bull bar. Note: Bulls should treat this trade as a scalp (book a quick profit or loss) and not as a swing, placing a stop at the closest swing low (in the chart above, that would be the low of bar 1).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- Bears did not provide a strong follow-through even after the powerful bear breakout of the top of the head and shoulders.<\/li><\/ul>\n
\n- Rather, bulls managed to create two bull bars that closed close to their peaks. A trading range is indicated by strong bars that are followed by weak bars, or bars that are pointing in the opposite direction.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The Nifty 50 is currently trading within a large wedge pattern. Since the wedge’s trend lines are now contracting, traders should anticipate trading range price action until the market breaks out of the pattern.<\/li><\/ul>\n
\n- The likelihood that the market will make a head-and-shoulders measured move is high if the bears are able to break the bar-1 low and form a strong bear close below the low.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/Nifty-50-Bear-Channel-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- The market is trading inside a broad bear channel, which suggests that by buying close to the bear channel’s low and selling close to its high, both bulls and bears can profit from this pattern.<\/li><\/ul>
- The market is currently trading close to the broad bear channel’s high, so bulls should avoid making purchases there, and bears should look to sell on strong bear closes.<\/li><\/ul>\n
\n- Bears should wait for a follow-through bar before selling; they shouldn’t start selling as soon as they spot a bear bar.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The bears made an initial attempt to reverse the bull leg but were unable to do so when they got close to the upper trendline of the bear channel.<\/li><\/ul>\n
\n- The likelihood of a bull breakout will rise in the coming week if bears are unable to reverse this bull leg on their second try.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The likelihood of a successful bull breakout from a bear channel is typically 75 percent, compared to a 25 percent chance of a successful bear breakout.<\/li><\/ul>\n
\n- The market is also trading inside an expanding triangle; traders should purchase near the triangle’s base and sell near its peak in order to profit from this trading pattern.<\/li>\n\n\n\n
- Take note: As the expanding triangle widens, the likelihood that the market will reach the other side falls.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n\n
- \n
- General Discussion<\/strong>
- Even after the strong bear breakout, bears should refrain from shorting the market because they were unable to get a follow-through.<\/li><\/ul>
- Because the bears who would have sold the market at the close of bar-1 are now trapped, there is a greater likelihood of a second leg up.<\/li><\/ul>\n
- \n
- Thus, bulls are able to purchase at the peak of the most recent bull bar. Note: Bulls should treat this trade as a scalp (book a quick profit or loss) and not as a swing, placing a stop at the closest swing low (in the chart above, that would be the low of bar 1).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- Bears did not provide a strong follow-through even after the powerful bear breakout of the top of the head and shoulders.<\/li><\/ul>\n
- \n
- Rather, bulls managed to create two bull bars that closed close to their peaks. A trading range is indicated by strong bars that are followed by weak bars, or bars that are pointing in the opposite direction.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The Nifty 50 is currently trading within a large wedge pattern. Since the wedge’s trend lines are now contracting, traders should anticipate trading range price action until the market breaks out of the pattern.<\/li><\/ul>\n
- \n
- The likelihood that the market will make a head-and-shoulders measured move is high if the bears are able to break the bar-1 low and form a strong bear close below the low.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- General Discussion<\/strong>
- The market is trading inside a broad bear channel, which suggests that by buying close to the bear channel’s low and selling close to its high, both bulls and bears can profit from this pattern.<\/li><\/ul>
- The market is currently trading close to the broad bear channel’s high, so bulls should avoid making purchases there, and bears should look to sell on strong bear closes.<\/li><\/ul>\n
- \n
- Bears should wait for a follow-through bar before selling; they shouldn’t start selling as soon as they spot a bear bar.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The bears made an initial attempt to reverse the bull leg but were unable to do so when they got close to the upper trendline of the bear channel.<\/li><\/ul>\n
- \n
- The likelihood of a bull breakout will rise in the coming week if bears are unable to reverse this bull leg on their second try.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The likelihood of a successful bull breakout from a bear channel is typically 75 percent, compared to a 25 percent chance of a successful bear breakout.<\/li><\/ul>\n
- \n
- The market is also trading inside an expanding triangle; traders should purchase near the triangle’s base and sell near its peak in order to profit from this trading pattern.<\/li>\n\n\n\n
- Take note: As the expanding triangle widens, the likelihood that the market will reach the other side falls.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- The likelihood of a successful bull breakout from a bear channel is typically 75 percent, compared to a 25 percent chance of a successful bear breakout.<\/li><\/ul>\n
- The bears made an initial attempt to reverse the bull leg but were unable to do so when they got close to the upper trendline of the bear channel.<\/li><\/ul>\n
- The market is currently trading close to the broad bear channel’s high, so bulls should avoid making purchases there, and bears should look to sell on strong bear closes.<\/li><\/ul>\n
- The market is trading inside a broad bear channel, which suggests that by buying close to the bear channel’s low and selling close to its high, both bulls and bears can profit from this pattern.<\/li><\/ul>
- General Discussion<\/strong>
- The likelihood that the market will make a head-and-shoulders measured move is high if the bears are able to break the bar-1 low and form a strong bear close below the low.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- The Nifty 50 is currently trading within a large wedge pattern. Since the wedge’s trend lines are now contracting, traders should anticipate trading range price action until the market breaks out of the pattern.<\/li><\/ul>\n
- Bears did not provide a strong follow-through even after the powerful bear breakout of the top of the head and shoulders.<\/li><\/ul>\n
- Because the bears who would have sold the market at the close of bar-1 are now trapped, there is a greater likelihood of a second leg up.<\/li><\/ul>\n
- Even after the strong bear breakout, bears should refrain from shorting the market because they were unable to get a follow-through.<\/li><\/ul>