CautiousChartist

NIFTY50- Expecting some Correction Again?

NSE:NIFTY   Nifty 50 Index
Last week on Monday, the fall that we saw was on account of a stock exchange glitch. However, in the same week the whole loss was nullified leaving evryone at sea.

But now if I go by what the chart is telling me, it says the chart pattern formed is a Rising Wedge Pattern.
There is also a Bearish Divergence along with the ADX losing steam.

Now , either tomorrow the price breaksout and then starts taking support of the channel border or if it breaks down then I see a correction atleast till the red dashed lines. A fall below those levels could trigger a bigger fall.

Let's be a little cautious before blindly breaking the bank.