NIFTY is forming a rising wedge (bearish pattern) on hourly charts with a likely target of around 4200. We may open gap up today. Resistance will come at 4600 - 4630 levels . It will be interesting to see if market touches 4700 levels or perhaps even 4800 in the coming days before a good fall. For now, be cautious on all upmoves and keep a close eye on the wedge. The moment the wedge is broken, expect good correction.
Sunday, August 10, 2008
Rising wedge on charts...Aug 11, 2008
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1 comment:
sir,
plz try n post this hourly chart for 11 aug also as it looks we have broken out of wedge.
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