vanathi
Education

Pattern Series 3 - Falling Wedge!

NSE:CANBK   CANARA BANK
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Rising wedge is a bearish pattern . Price range is wide in the bottom and narrows when price moves higher. Volume will decline as prices rise and the price action forms a wedge . Price will fall when the support is broken. Falling wedge is a bullish pattern . Price will move up when the resistance is broken.
This will be bullish in short term till 375. Already tested 320 twice.
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nice looking chart
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vanathi rupambose32
@rupambose32, Real time charts wont look nice :)
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@vanathi, i want to say colourful chart
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vanathi rupambose32
@rupambose32, hahaha. ok. Thank you :)
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Can you please analyse and inform if COAL INDIA is in falling wedge pattern or not..
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vanathi asfewgold
@asfewgold, Candlesticks are not fitting in to the pattern correctly. So it is not falling wedge.
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@vanathi strong resistance at 345/350 zone
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vanathi dasAbhishek
@dasAbhishek, I agree, price will be in sideways for some time.
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