Whether Nifty is making double top ? Last september 2016 also it did similar thing. FII started selling from that period till Jan 2017.
again FII selling for last two weeks now. it is DII who bought the market up till now.
Appears to be breaking out
I think if Nifty could not cross 10150 by end of this week, we can think of it as double top.
Chances of " double top" if nifty closes below 9912, to negate this Nifty has to close above 10145 level
It seems confirmed Double Top. North Korea fired one more missile over Japan on 15th September 2017.
That’s how big North Korea is in the whole world but they create a nuisance for everyone.
What I Think is that the current trend is losing momentum because of constant struggle between the bears and the bulls. It is ideally a trend reversal pattern Still the market is in indecisiveness among both bulls and bears.
Market will got down but will Recover soon.
China is using North Korea to counter US and Japan and also now using it to help Pakistan through it to counter India.
Unfortunately India is showing soft corner most of the times.
Now it is confirmed we are in double top and heading back to 9700.
Friday"s market action seems that , double top is not forming, its going to be long consolidation period, until unless Domestic investors doesn’t start Mutual fund redemption , worrying factor is that , in selling FIIs are dominating DII s
What number of days u have used for moving averages?
I use 5, 20, 50. For the last nine months Nifty is honouring 50DMA as channel support. If it breaches then it would be down Trend started.