1. Rising wedge
2. Inside candle @ 1hr
3. Important support -18080 and 18000
4. Closed above 50 MA
5. Downtrend in 1 day
The nifty 50 is continuously moved upside, looking closely we can see that it is moving in a wedge pattern i.e RISING WEDGE.
Taking Support at 50 MA and ending up with an Inside Candle bar pattern.
Important levels to trade -
BUY above 18150 which shows that it had respected the 50 MA and 18080 as support.
Sell below 18000 which shows that it crossed 50 MA and 18080 thus looking for a bearish move and also BREAKING DOWN the RISING WEDGE pattern successfully.
2. Inside candle @ 1hr
3. Important support -18080 and 18000
4. Closed above 50 MA
5. Downtrend in 1 day
The nifty 50 is continuously moved upside, looking closely we can see that it is moving in a wedge pattern i.e RISING WEDGE.
Taking Support at 50 MA and ending up with an Inside Candle bar pattern.
Important levels to trade -
BUY above 18150 which shows that it had respected the 50 MA and 18080 as support.
Sell below 18000 which shows that it crossed 50 MA and 18080 thus looking for a bearish move and also BREAKING DOWN the RISING WEDGE pattern successfully.
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