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Rising Wedge

NIFTY might fall in the coming days.Considering 3 patterns Rising Wedge, Bollinger Band and MACD it looks the NIFTY and the whole Indian Market might collapse. Rising Wedge - The chart clearly shows a rising wedge a break from that too. So knowing rising wedge, it looks like the market might fall in the coming days. MACD - The signal and the MACD line seem too stuck to each and considering the already falling pattern, the line might cross over for a fall. Bollinger Band - The mean line seems to have lost the grip of the candles. If it does happen get a grip it still seems like a falling pattern. It would interesting to see what happens on 18/05/2020.
NSE:NIFTY
by varun7691
GBPINR rising wedge breakdown confirmed, selling to followThe pair was moving in a steep rising wedge pattern from the past 1.5 months. GBPINR, in the previous session, gave a daily close below the lower trend line of the wedge pattern, confirming a breakdown. In doing so, the pair also breached crucial support of 21 days EMA (88.1609). Now, it is susceptible to heavy selling that can take the price to 86.5692. The stop loss for the trade will be slightly above yesterday’s high at 88.9253.
Short
by forexnoobmaster007
BATA INDIA - 60MIN - POTENTIAL DROP ?Bata has been in a sideways channel on the daily timeframe for quite a while. The stock is approaching the 3rd touch of this channel at the top. The interesting thing about this is, it is approaching the top in a rising wedge formation giving us an idea of a potential dip in the stock. If the stock breaks this small rising wedge formation it has the ability for a downside of over 10%, so the Risk to Reward for traders in good enough. Entry after the channel break - 1430 Stop - 1470 Target 1 - 1387 Target 2 - 1360 Target 3 - 1327 Disclaimer This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital which you are prepared to lose.
NSE:BATAINDIAShort
by PranamGhagare
BPCL | Rising WedgeRising Wedge pattern observed in BPCL. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 128 points. With confirmation of pattern occurring at 364, Target of the pattern comes in at 236. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:BPCL
by AkhilSuryaFS
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