in downtrend volume decreasing continuously. when narrow wedge pattern will come after taking support on upper support area of narrow wedge breakout. stock will perform well. target is equal to pole of the flag.also its taking support at 61.8 Fibonacci level.
STOCK COMPLETED ITS COMPLTE CYCLE OF 5 IMPULSE WAVE AND THEN 3 CORRECTION WAVE. NOW STOCK COMPLETED ITS 1ST IMPULSE WAVE AND THEN 2ND CORRECTION WAVE..AFTER COMPLETION OF 1ST WAVE STOCK RETRACED UPTO THE 61.8 % OF FIBONACCI RETRACEMENT LEVEL. AS ALL OF US KNOW THAT WHENEVER STOCK RETRACES FROM ITS GOLDEN RATIO i.e from 61.8 THEIR IS A PROBABILITY TO GIVE BIG MOVE.
from yesterday i.e from 24th december nifty showing berish pattern but i feel and as per chart, nifty should recover faster to complete its 5 th wave . so, for next 10 to 15 days nifty can touch 12550 to 12570 level..this is my personal view.
