A falling wedge pattern is being formed with stochasticrsi divergence and macd crossover, volume is above average, a break above 83650 will be a good buy signal and if it breaks above 90300 it can be held for a further target of 96700.
The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam. Buy for 857 with stop loss close blow 600. A major...
One can consider to buy this for long term MAX. (1.5 yrs). It is not easy to take out long term targets but one can easily make all time high as their target.
For positional basis initate buy after breakout for a target of 149 - 162 with a SL of 103.
In the last 2-3 trading session NIFTY trading in a downtrend and its formed a falling wedge pattern. Still, it does not give this pattern breakout but if but nifty open with gap up this breakout will happen and possible we will get next target 15175 and 15230+ in the upcoming trading session. 15175-15195 will act as major resistance to reach the final target.