The candle on D and W closed right on the line, so one can expect reversal.
There is also an Ascending Triangle forming.
Logically one may want to short for the next support.
But I would like to go Long with SL below yesterdays low 775.5
T1 - 50% of channel retracement
T2 - Once it breaks out of the triangle - take next resistance 862
T3 - 880
THIS IS NOT A TRADING IDEA, use only for education
There is a rising wedge forming and the stock may correct by about 300 points out of which 100 points are already done, another 200 points possible.
All targets mentioned on chart
NIFTY at the top of the channel
This seems like -
1. Either Nifty should go up another 100 points to 14277 and then come back in the channel.
2. If it goes out of the channel, then I can only day one thing buy as many lots of NIFTY as you can and book at every 150 point moves or trail SL.
It is insane to see such up moves, logically the price should get down but...