BholeBawa

BholeBawa

We can see a clear pattern formation. Its a Descending Broadening Wedge. Normally Its a Continuation pattern that means earlier market made a top on 18600 and now if price will break this wedge again it will continue the bull rally. Still there are chances of failure of this pattern.

BholeBawa Updated 

Though right now market is breaking imp price level very easily, I cant see that kind of strength in market its looking like pre planned manipulation. At this point market can be reverse. Imp support levels are given in the chart. It should follow this divergence.

BholeBawa

As we noticed a bearish divergence on my previous publication, Price broke 16500 and a daily candle closed below this level. A Head & Shoulder pattern has formed, we can expect a good direction towards downward. Probabilities:- If gap up happens (above 16500) probability of this pattern will less effective but can not be ignored. If opens flat market will respect...

BholeBawa

Chart is showing clearly a bearish divergence in 15 minutes. If it will sustain above 16500 for longer period ( sideways) then market will go upside or else we can see a reverse scenario.