October 20, 2010

FALLING WEDGE of nifty futures

CHART-II
  • Support at 6003 has broken 
  • Next support at 5960. 

CHART-I

  • Nifty Futures hour chart is showing a possible falling wedge which can reverse this corrective move.
  • But for this to be an effective pattern NF should break the red line at 6002 and take support at the bottom line.

4 comments:

  1. Corrective move means,up or down?
    where it go?I mean ur view is bullish or bearish?

    ReplyDelete
  2. @dhiksuchi
    If the resistance line of the wedge breaks then it will go up.

    ReplyDelete