The Big fall of 2020 was predictable - Supporting Charts 1
In my previous chart, I have discussed how Nifty 50 had a strong bearish breakout. Now I will be making supporting charts which could have been used to confirm the trend.
RIL is a heavyweight stock of Nifty 50 & perhaps has a high correlation.
NSE: RIL is been making beautiful triangular pattern on the daily period chart.
There was a breakout of EMA ( 200 Days ): RIL took support on 200 days EMA 3 times where it was completing its triangular pattern.
Finally, on the third, it broke its support.
(Please read " The 3-Day rule by Martin Schwartz) - This will give you a better understanding of what I am talking about.
RIL is a heavyweight stock of Nifty 50 & perhaps has a high correlation.
NSE: RIL is been making beautiful triangular pattern on the daily period chart.
There was a breakout of EMA ( 200 Days ): RIL took support on 200 days EMA 3 times where it was completing its triangular pattern.
Finally, on the third, it broke its support.
(Please read " The 3-Day rule by Martin Schwartz) - This will give you a better understanding of what I am talking about.
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