Cup and handle formation

2022年5月27日

Hello everyone i hope you all are doing great!!!

Well yesterday i have given a falling wedge pattern which indicated a bullish signal which not quiet workout 😒due to monthly expiry and price falls from that level indicating a fake breakout at starting afterwards price started rising and closed at 16170.
well as price went down and showed me a Cup and Handle formation which i have marked on the chart for you guys, which is also a bullish pattern and the breakout is also given itself on the same day.
I think today market will try to reach 16400 as expiry has passed by 🙌.
16444 to 16500 is a supply zone where market will face a clear resistance.
if nifty moves above its supply zone then it can go up to 16606/-
on the downside major support for nifty is at
15910, 15822, 15770

Thanks and happy trading!