joel-vg
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RBI ACTION DAY - A RISING WEDGE PATTERN ?

NSE:NIFTY   Nifty 50 Index
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4
The rising wedge has a strong bearish character.

Let us see what is in the store !!!

Comments

isnt it a bullish sign if it breaks out of the rising wedge?
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joel-vg Lucifer759
@Lucifer759,

yes sir , Like @Parasuram pointed out , 15 minute chart has low reliability
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Lucifer759 joel-vg
@joel-vg, ok
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Parasuram Lucifer759
@Lucifer759, your came true! but it might not go below 10580.. let us see.. but one should buy
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15 minutes is small time frame chart
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joel-vg Parasuram
@Parasuram,

On longer time-frame both bullish & bearish possibilities come !

i don't have any position

Whats your view sir ?
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Parasuram joel-vg
@joel-vg, am also little confused. If e wave had ended at 10440 then it is only rally all the way upto 11400..with heavy resistance at the gap areas. I have my doubt since it ended in just one day against 10 days of d. It should have consumed atleast 1/3 of d time.. if it is getting subdivided then your dip might come.. But instead of shorting one should buy the dips...even when the Nifty enter the gap area.. there will be heavy selling.. it has to absorb all the selling and move forward.. I was long on Nifty and just closed it ..
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joel-vg Parasuram
@Parasuram,

thanks sir for your views !!
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