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Nifty Weekly View- Three PatternsNifty Weekly View 📊 In this insightful analysis of the Nifty, we'll explore three crucial patterns that are currently dominating the charts. These patterns provide valuable insights into the future direction of this key market index. 📈🧐 1. Ascending Triangle Pattern (Yellow Highlighted) 📈 Ascending triangles are bullish chart patterns characterized by higher lows and higher highs within a narrowing range. This pattern signifies increasing buying pressure, with buyers showing a willingness to enter the market at lower prices while sellers are content to sell at higher prices. It's a strong indication of positive sentiment. 📈📈🚀 ++ Nifty has formed an Ascending Triangle breakout and its in Bull control 2. Channel Formation (Blue Highlighted) 📊 An upward channel, another bullish chart pattern, takes shape when prices move within a confined range defined by parallel trendlines. The upper trendline represents resistance, while the lower trendline signifies support. This pattern reflects a balanced power dynamic between buyers and sellers, with buyers stepping in at lower prices and sellers offloading at higher prices. A clear sign of market stability. 📊💹🛡️ ++ Nifty is travelling in an upward channel and approaching the upper trendline of channel plus its above the centre line of the channel. Again bull is taking control. 3. Rising Wedge (Pink Highlighted) 📉 On the flip side, a rising wedge is a bearish chart pattern where prices create higher highs and higher lows, but the upper trendline steepens more rapidly than the lower trendline. This indicates mounting selling pressure, as sellers become increasingly willing to sell at higher prices. A potential bearish signal to watch out for. 📉📉📉💔 -- Nifty has some underlying issues of forming an internal rising wedge, though it gets activated below 19200 only, so its far away from present levesls. Now, let's discuss the potential price movement of Nifty for the remainder of 2023 based on these patterns. If Nifty manages to hold above the crucial 19,200 levels on a daily closing basis, we could witness an upward rally. 📈💼💼 Expected Targets with Dates 📆 First Target - 20,453 by 9th Oct'23 🚀🎯 A promising start to the upward momentum. Second Target - 21,224 by 6th Nov'23 🌟💫 Steady progress towards higher levels. Final Target - 22,420 by 26th Dec'23 🎯🎉 A potential year-end surge. As we closely monitor these patterns and targets, remember that the world of technical analysis is dynamic and ever-evolving. Keep learning and stay tuned for further updates. Your comments and insights are always appreciated. 📚📈💬👀
NSE:NIFTYLong
by yogesharora2409
10
Mighty Nifty - Jan 4Price has formed a falling wedge pattern and right now it is at the strong support 21480 - 21520. Pattern : Wedge. Range : Medium. Trend strength : Normal. Buy Above : 21520. Stop Loss : 21480. Targets : 21560, 21590, 21620 and 21660. These levels are derived based on the assumption that price will take support from 21500 zone. Sell below : 21440. Stop Loss : 21480. Targets : 21400, 21360, 21320 and 21280. Expected expiry day range is 21300 to 21650. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NSE:NIFTY
by vanathi
INDOAMIN - Bottom Wedge PatternThe bottom Wedge pattern is a type of continuation pattern that typically occurs within a downtrend and indicates a potential reversal in market direction.he bottom triangle pattern is a type of continuation pattern that typically occurs within a downtrend and indicates a potential reversal in market direction. It's important to note that while technical patterns like the bottom triangle can offer insights into potential market movements, they are not foolproof and should be used in conjunction with other forms of analysis. Traders and investors often use a combination of technical and fundamental analysis to make informed decisions. Remember that the effectiveness of these patterns can vary, and markets are influenced by a wide range of factors. Always exercise caution and consider risk management strategies when making trading decisions based on technical patterns. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:INDOAMIN
by hardeepssethi
RAIN Industries - Bottom Forming pattern - Multibagger📈 Exciting Bullish Pattern Alert! 🐂 📊 Pattern: Falling Wedge 📌 Symbol/Asset: RAIN 🔍 Description: Stock is forming falling wedge pattern around the Long Term Support. We can clearly see bottom is in making. There is a strong support of around 130-135 and we can see huge bounce from hereon. Rain Industries is a Buy On Dips. Not to Miss this opportunity. 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
NSE:RAINLong
by FiveCircles
2
DISNEY WDP on a Long term Support !Exciting Bullish Pattern Alert! 🐂 📊 Pattern: Falling Wedge 📌 Symbol/Asset: WDP DISNEY 🔍 Description: Stock is around long term support. Stock might not come around the same level again . Stock is also making falling wedge in a downside rally, so we can see huge momentum after falling wedge breakout !! We can expect minimum 200-400% returns in coming years !! 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
XETR:WDPLong
by FiveCircles