NSE
: NIFTY Weekly Analysis! Rising Wedge Pattern in Nifty 50 Weekly Chart!
Rising Wedge Pattern with Upside Breakout!
Nifty 50 is trading at its all-time high, don't be greedy in this situation. We can see the strong upside momentum but hold your horses. We can see, I have applied fib retracement on the current price action(prev high and prev low). Now we may face strong resistance at the 20306.05 level because as per price action, NIfty has to establish support at the previous resistance level. Then we should find the following buying opportunities at this level. I have also marked the possible Demand zone on the chart one should consider this level for conservative investing. So as per my suggestion let the Nifty retrace because we are already in the greedy zone. I don't want investors to get trapped in this zone and hunt their stop losses.
Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
评论:
Nifty is moving as per our Analysis!
Avinash K.
