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Rising Wedge

MARKET WILL FALL!!!!!! BULL MARKET OVER OR CORRECTION?All the things I want to say is mentioned in the chart, please read it carefully. Besides that, Reason to this fall : 1.MARKET HAVE A STRONG SUPPORT IN THE MID RANGE OF 26500-26600. So we can expect fall up to that. And as per logical TARGET FOR A #RISINGWEDGE PATTERN is 2L , which is exactly DOUBLE of length L mentioned on chart. 2. RSI is showing above 70, which is signal for reversal. 3. MARKET and RSI are both moving towards different direction of each other and RSI DIVERGENCE created. DISCLAIMER: This is my personal view and I have booked my profit in finance sector TODAY. DONT TAKE DISCISION BASED ON MY IDEA, KINDLYTAKE A ADVICE FROM YOUR FINANCIAL ADVISOR. I have also publish BULLISH idea on NIFTY as well as NIFTY BANK month ago in OCTOBER. According to that , Hope You might have enjoy NOVEMBER MONTH well.😊 You can visit my IDEAS Section for more analysis. This is only TEMPORARY CORRECTION in the market , which will run for DECEMBER AND JANUARY. You can see MARKET TURN-AROUND AT 26500-26600 ,(act as AS A SUPPORT) , which we will see around JANUARY END.
NSE:BANKNIFTYShort
by BeuniQEBusinessHub
6
NIFTY 1HThe range in which NIFTY is trading is shrinking. It has started forming a pattern which is The Rising Wedge Pattern. It is mostly observed that this pattern generally has a breakdown instead of a breakout but that depends on the market is never 100% guaranteed. But as it is said in stock market "History repeats itself" so we can believe to notice a break down in NIFTY. The RSI is also nearing 70 in 1HR timeframe. You can backtest the reaction of NIFTY when it reaches RSI of 70+. So we can expect a correction in NIFTY in the coming few trading sessions. No one can say how much NIFTY will correct, but it will definitely show a reversal pattern once it's done being bearish. So hold your cash and wait for NIFTY to correct. You can catch stocks at better prices & incur good profits. Happy Trading & Investing!
NSE:NIFTYShort
by ritik_patel
Havells India Ltd Technical Analysis .Hello friends , Today i have the technical chart Of Havells India Ltd . Friends as you can see here that it was in a up trend but now it can go down because it is making a " Rising wedge " and Also Making Bullish Harami Candle Stick Pattern Which shows that i could be right at here . But remember that it can break upper trend line from where i have shown down because it will be a False Breakout and if you buy at there the trade can be in profit for 5 - 6 day After than it can be in loss because it can go down from there and also remember it will go first and then up from the Resistance it can go down as shown in the picture ,Thus it is also near the breakout point .Its Support price you can see that it is on its support and its target you can take for is at Rs 680 and if it goes down how i have shown so the stoploss you can take is at Rs 442.90 and remember to read out the notes and other things written on the chart and i have showed the nearby support you should also see the marked Supports and Resistances on the chart and Please give your Precious time and like all my ideas so that i can know that you like my ideas which i publish and my channel To like my all ideas just click on my channel name you can see it with picture and then like my ideas . Thank You . If you like this Idea and this Analysis just please like this idea and leave a comment i will surely try to improve it or if you have any doubt related to this you can write in the comment box also . Bye Bye .
NSE:HAVELLS
by MAYANKTECHRESEARCHING
Bank Nifty Broken Rising Wedge | Still Bearish On A Daily TIme frame , BankNifty has broken Rising Wedge pattern When Price Action is considered, Dynamic Resistance still needs to be broken at 21023 if we consider bull to come back but not before 21356. Multiple touch of upper trendline that makes dynamic resistance . Upper trend line was respected for almost 5 months. Looking further you will observe that lower trend line was broken with high volume as wedge becomes more and more contracted. what more to come ? No Bull Above 21356 If we consider current scenario 18644 is still expected , untill we see gap What happens below 18644 for BANKNIFTY ? Well more panic but that is still far away What do you think ? Also chart is also seeing some major elliot waves , keep an eye on those also
NSE:BANKNIFTYShort
by trader_indie