Nifty 4hr has formed trend continues pattern that is raising wedge pattern as per technical it may take retest and give fall further , at the same time in rare case it may form ascending or falling wedge and give up side break because it has give trend line break.
Lauras Lab - Short-term Bullish
1. It's in a short position and has a good chance to move upwards direction with the small target of 475.
2. If the target of 475 is achieved and opens and closes above that means, then it may have a good recovery rally to 500.
3. Now form a raising wedge pattern after the retracement.
Note:
1. I’m not a SEBI Registered advisor,...
Will the price fall further down tomorrow? Raising wedge pattern denotes that the price should fall straight second day, lets wait for tomorrow's open !!
Price made raising wedge pattern which ends at the previous high to make a double top. Expecting the price to fall as per the pattern, if breaks the previous high then it is good for long.
Price formed raising wedge pattern inside a channel and today opened gap down.
Master the technicals and one can survive any kind of market with perfection.
Price moving in parallel inside a range for a long time. Just before the Pandemic it breaks the range trapped all the long positions and fell badly and took the same support.
One can clearly identify the raising wedge pattern in the above analysis. This pattern exactly ends at the resistance levels !!!
Scenario 1:- If Opens with Gapup, this will test 3 days High.. and will go down...
Scenario 2:- This seams raising Wedge Pattern.. So expect to get down. will test S1 or 3 days Low
