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Rising Wedge

HAL [Weekly] - Looking to breakout or fall?A rising wedge basically signifies a probable end to an uptrend. However, we have been wrong a number of times. But in such irrational and nuclear times a break in trend can signify a massive fall in the price of a stock. Even though this stock looks strong, the monthly timeframe looks extremely weak. Should this weekly support break, we can clearly expect HAL to correct to 1100 to 1150 (currently its strongest line of support). ====== Remember, if the overall market dips, most stocks will also go skinny dipping. Happy Trading!
NSE:HAL
by sandeepbalachandran
Nifty-What A Crack 17600 to 17260-What Next ?-Ending Diagonal In old school method or traditional technical analysis pattern which rises & are messy in nature are called “wedge”. In Elliott Wave analysis we call it “Ending diagonal or Type-2 diagonal” which ends the current trend. Both terms imply the same thing – reversal ahead or next. Index has been in uptrend since key support 17260 which was suggested as Part -B plan in the last idea - "Leading Diagonal or Type-1 diagonal" The Sharp Fall from 17600 to 17260 & later bounce upside from 17260 was amazing moves for Index Nifty on Budget Day - 1st Feb 2022 & discussed over the last idea. __________________________ Trading Strategy __________________________ Plan A - Sell Below 17730 / Should fall below 17700 as well for confirmation. Target 1- 17525 Target 2 - 17245 Target 3 - 17075 if fall continues below 17245 ____________________________________________________ Last Idea - Leading Diagonal or Type-1 Diagonal ____________________________________________________
NSE:NIFTYShort
by WaveTalks
35