a10XTrader

Rising Wedge in a Rising Nifty

NSE:NIFTY   Nifty 50 Index
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A clear Rising Wedge Patterns takes shape as the NIFTY             drag its way further up towards 9500. Negative Divergences with multiple momentum indicators have shaped up, of which the one with MACD is prolonged and ripe for an outcome. A break below this rising wedge opens up quick downsides for the index ... as per patterns one can expect 8800. Breakout above the pattern obviously negates the possibility. Time to be a little cautious.
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