As seen in my analysis, Nifty is forming a Bow-Tie Diametric pattern. This is the last leg of the long term Ascending Triangle with 10100 levels as base.
All chart markings are self explanatory.
HDFC Bank has reached its swing resistance level on Sep 12. It was followed up by a trending candle on Sep 13.
The recent wave formation on the B.c was an internal triangle before it hit the resistance. It the Ascending Triangle continues, which is a likely possibility, the stock would come down to 2165 to form B.d as explained in chart. The next wave would be...
