GIFT NIFTY (SANTA RALLY)

Dec 23, 2024

Triangles are fascinating chart patterns in technical analysis. There are three main types: ascending, descending, and symmetrical. Each indicates different market conditions and potential price movements. Here's a quick overview:

Ascending Triangle: This bullish pattern features a horizontal resistance line and an ascending support line. It suggests that buyers are gaining strength and a breakout to the upside is likely.

Descending Triangle: This bearish pattern has a horizontal support line and a descending resistance line, indicating that sellers are gaining control and a breakdown to the downside is probable.

Symmetrical Triangle: This neutral pattern consists of converging trendlines, with neither buyers nor sellers having a clear advantage. The breakout can occur in either direction, and the subsequent move is often significant.