Tip : Wait for the confirmation
NMDC Ascending triangle breakout 1. Trend based Fibonacci retracement used for SL 2. Target : Height of the triangle and previous highs
2 Cases: 1. Surviving Support Line 1 and breaking resistance Line : Expect Nifty to rally towards 11000. 2. Breaking down the SL 1 : Expect nifty to break down till 9000
Study Purpose Using regression to identify the Support and resistance line. As long as SBI stays above the main center line, I assume it tends to touch the upper line and then make the correction wave.