July 10, 2012

NIFTY Rising wedge update


  • Price continue to stay within the contracting pattern. Rising wedges mostly breakdown in  favor of bears. But there are cases of rising wedges breakout on the up side. For now if the trend line gets broken we may also see a MACD Sell signal. Staying within the pattern will keep bulls interested.
  • Price finding support near 5 Week High EMA. Price falling this level will favor bears.



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