Wednesday, December 7, 2011

Nifty :Rising wedge

Nifty is forming rising wedge pattern on hourly chart.....with target of 4980-4920, if nifty starts trading above the upper trend line or after breaking the lower trend line (which as of now stands at 5040) it starts trading sideways the pattern will get invalidated.


  1. has the pattern got invalidated?

  2. @kuheli

    the pattern is still valid and lower trend line is increasing by 8 points every hour...for 3:00 pm close it is at 5072.

  3. should one carry short as per the set up?

  4. @kuheli

    the pattern can invalidate if we have good gap up you should keep a proper stop loss according to the situation ..but yes i am carrying my shorts.