Hi everyone,
This is my first post in Trading view.
As per my analysis, Nifty made Rising Wedge Pattern in past weeks where breakout should be at downward side. So it's looks like falls breakout to upward. One more point It just completed almost 50% retracement till 9889 from bottom.
So in upcoming weeks, 9300 will going to be a major support for uptrend, it should hold this, otherwise downward trend will start to 9000, 8100.
Kindly shares your ideas and views on this study.
Thanks
This is my first post in Trading view.
As per my analysis, Nifty made Rising Wedge Pattern in past weeks where breakout should be at downward side. So it's looks like falls breakout to upward. One more point It just completed almost 50% retracement till 9889 from bottom.
So in upcoming weeks, 9300 will going to be a major support for uptrend, it should hold this, otherwise downward trend will start to 9000, 8100.
Kindly shares your ideas and views on this study.
Thanks
Comment:
As mentioned in research above Nifty took support of 9300 closing basis on 04.05.2020 so now 9550 will be major resistance for it.