Nifty Broadening Ascending wedge an update
- The ascending wedge was discussed long back. Since price has broken the support line i wanted to share the possible target on the downside. Bullowski in his pattern site has discussed in detail about this formation. The target shown above is based on his research.
- Death cross is there,
- Bulls are seeing some reversal possibilities or dead cat bounce possibilities i should say which are shown in chart 3 and 4 As long as price stays below 200 SMA its dead cat. Above analysis without today's price action.
-->
Dear San,
ReplyDeleteif we draw trend line connecting 5119 and 5933 on log scale , we have already broken it.i agree that we are over sold and we may see a bounce from here.
Pankaj Shah