July 28, 2010

Nifty daily chart analysis

  • Nifty's raising wedge is shown with upper break out points.
  • According to this today the price should either break out on upside or break the raising wedge's lower boundary to give a short trade.
  • Price again closed between 5 day high and low ema.


  1. Hi san,

    Hope you are doing good..

    In hourly charts – are we making “cup and handle” pattern?

    Also check in day charts too..but I can see more clarity in hourly charts..you can figure it well combined with volumes..

  2. Thanx assortZ for informing. I have updated the cup and handle pattern.
    Hope it works according to the rules of the pattern.