BankNifty completes rising wedge pattern next week ?
Hi All,
Hope all are doing great.
Here’s my 1D timeframe analysis. As we can see in the chart from 14-Dec-2022 to 6-Apr-2023 around 113 days there was a good falling channel pattern. It broke and achieved twice the target.
The next 113 days from the previous breakout is forming beautiful rising wedge pattern. As per the pattern nature it might break below to the given support level 43659.
Always trade carefully with proper SL because it’s your hard earned money.
Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
Hope all are doing great.
Here’s my 1D timeframe analysis. As we can see in the chart from 14-Dec-2022 to 6-Apr-2023 around 113 days there was a good falling channel pattern. It broke and achieved twice the target.
The next 113 days from the previous breakout is forming beautiful rising wedge pattern. As per the pattern nature it might break below to the given support level 43659.
Always trade carefully with proper SL because it’s your hard earned money.
Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
Trade active:
Rising wedge broke and gave good fall went till 44700. 300 pts recovered and closed at 45000. We still have 1200~ pts to reach the target. Let’s wait and watch.
Trade active:
Went till 44200 only 600~ points from there. But we had some recovery and closed at 44879 let’s wait and watch.
Trade active:
Good fall morning till 44500. At end of day recovered and closed at 44880. Lets see we have RBI meeting tomorrow.
Trade closed: target reached:
Gap down ans target reached
