NIFTY SHOW - BEARISH PATTERN FORMATION

As expected nifty closed in red with the loss of  35 odd points.The nifty opened with a gap down  and traded lower whole day ,the overall market breadth was also negative with  734 advances to 751 declines.The immunity of the market seems vulnerable ,still the markets are afloat the 20 and 40 DMA . Also the nifty is moving in a pattern hence the intensity ,the volumes,the participation will presumably be low.
                                   On the daily charts nifty has created somewhat  an evening star. Here i would like to make it clear that the pattern is more of an approximation to the evening star, which is a bearish reversal pattern.Adding more to it ,the size of the candle clearly reflects low participation and amplitude of the pattern,hence there is not much to count on it.Also we know that,it is moving in the wedge we are directionless until a valid breakout.
                                                                                              In the next week if same situation of global weakness or dampen sentiments persist then we see nifty approaching the support of the lower boundary of the wedge attempting to close the gaps.On account of this i had maintained my view of intraday position, i.e.. load your wallets with money don't take nifty home,since it is not the right time to.
               Lets see what the next week comes with ,so we judge the situation and try to act accordingly.