In this video, we are going to witness the cup and handle chart pattern formation in daily chart of Voltas. Two probable scenarios were given.
Most probable scenario: A possible bullish breakout above 1120
Alternate scenario: Consolidation for some period
Minimal chances of a bearish movement.
Probable Scenario - Correction - That might break the support level of the descending triangle.
Alternative Scenario - Another hit to previous high - After that consolidation over a long period
Here, I have tried to depict the probable upcoming price move of Nifty on the basis of a weekly chart.
1st scenario - After facing heavy resistance from the 16000 levels, the price has to break out the 16000 levels. If it fails,
Alternate scenario - The price might show some corrections by retracing to significant support levels as mentioned.
Probable scenario:- The rising wedge pattern is a probable sign of a strong bearish movement. In the case of TCS, if the price doesn't hold the support line it might go bearish . If the price doesn't find immediate support while retracing it might go for a strong bearish move.
Alternate Scenario:- If the price breakouts the resistance level and holds that...
