Rising Wedge Breakout or Trap?

May 2

📈 Nifty 50 – Rising Wedge Breakout or Trap? 🔍
🗓️ 2nd May 2025 | 15-Min Chart Analysis

The Nifty 50 has been respecting a rising wedge pattern over the past few sessions. Today, we witnessed a sharp bounce from the lower trendline with a strong bullish candle and volume spike — just enough to test the upper boundary of the wedge!

💡 Key Observations:
Price touched the upper trendline resistance – caution advised 🚨
Volume spike hints at possible breakout attempt or smart money exit
Watch closely: A breakout with volume = bullish continuation 📈
A rejection here = possible reversal 📉

🔔 My Take:
Momentum is strong, but the structure looks fragile. If it breaks out and sustains above the wedge, we could see a 100–150 point move. Else, a reversal towards 24,300 or below is also on the cards. Stay alert.

📊 Always trade with proper risk management.
📌 What’s your view? Breakout or fakeout? Drop your thoughts below!

May 7

Trade closed manually