ascending wedge pattern formation on nifty, crucial resistance of 17920 has to be broken for upside move. pattern failure if downside it breaks 17770
Nifty wedge formation - breakout can happen both ways, huge up/down move possible after breakout
W pattern formation on banknifty as well as nifty, first resistance at 42000 has to be broken, for the pattern to be in play, immediate target would be 43000
itc possible pullbacl from the resistance level at 340 to 336-335 level, retesting the trendline. if treendline support not broken can see itc breaking 340 level to 345 in the coming week
night possible gap fillup, then might see a rally upto the previous pivot area 18250,
banknifty in a long consolidation, could see a rally upto 43150 - 43450 after a clear breakout of 42720
CGCL - legged pattern with good volume
long term trend support and divergence
Target 1 - 370 (2.8%) Target 2 - 375 (4.16%)
good entry level. good risk to reward. risk to reward = 1:6.
very good risk to reward, 1:3 would you buy???
buy above - 68, stop loss - 65, target - 85 riske:reward = 1:6