Nifty Rising Wedge - June Series
Right now, Nifty is continuously breaking its all time high's. But its in the edge of rising edge pattern.
The Rising wedge will most likely to push the market downward for some correction. Also the RSI is in overbought levels. Correction can start to happen anytime. Wait for the RSI breakdown for short for a target of 15200 & 15000. 15000 will act as a Strong support and it will start to reverse from there.
Long can also happen, but the targets will not be attractive. This over bought RSI will bring the small correction wave 15800 will act as strong resistance and one can execute fresh short at these levels.
Kindly share your valuable thoughts.
Disclaimer: Kindly do your analysis or consult your advisor before taking any trade. This view is for educational purposes only.
The Rising wedge will most likely to push the market downward for some correction. Also the RSI is in overbought levels. Correction can start to happen anytime. Wait for the RSI breakdown for short for a target of 15200 & 15000. 15000 will act as a Strong support and it will start to reverse from there.
Long can also happen, but the targets will not be attractive. This over bought RSI will bring the small correction wave 15800 will act as strong resistance and one can execute fresh short at these levels.
Kindly share your valuable thoughts.
Disclaimer: Kindly do your analysis or consult your advisor before taking any trade. This view is for educational purposes only.
노트
Stuck in the Strong resistance zone. Wait for the breakout.
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.