October 21, 2010

Pin Bar and Falling Wedge of nifty futures

CHART-II
 CHART-I
  • PIN BAR and FALLING WEDGE has given a breakout above the resistance line of the wedge.
  • But NF was sold off from intraday high suggesting profit booking.
  • Breakouts of patterns is usually followed by a retest of the breakout area. So we may see a retrace of this move. Or a gap up tomorrow. many possibilities exist But bulls have the momentum.

1 comment: