Rising wedge during tops is a bearish pattern and
NIFTY
seem to be breaking down from the pattern as seen in the chart. Still there are a few hours to go for close but it closes below the wedge lower line then it would confirm breakdown. At the same time, NIFTY also might close below 20 DMA today which is a good confluence.
As per technicals, potential target for this fall would be around 21500. Let's wait and watch how this evolves.
NIFTY
seem to be breaking down from the pattern as seen in the chart. Still there are a few hours to go for close but it closes below the wedge lower line then it would confirm breakdown. At the same time, NIFTY also might close below 20 DMA today which is a good confluence. As per technicals, potential target for this fall would be around 21500. Let's wait and watch how this evolves.
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Disclaimer: Do your own due diligence for buy/sell decisions.
Disclaimer: Do your own due diligence for buy/sell decisions.
