Most Reliable Falling Wedge Pattern A sign of Reversal on Daily

13 мар. 2022 г.

Formed Falling Wedge Pattern on Daily Chart, As Per my Study & Observation After Given Breakout
and after Impulse Move the Next Move of Retest or Retracement @ (32953) is Pending on Card.
on 11 March 2022, it has tried to Test 38.20% Level & Got Rejection @ 34880.
On Daily, Chart Candle Managed to Close Just above Previous day’s Close @ 35546.25
Now 11 March 2022 High 34880 & Low 34094 is Important
If Trades Below 34094 then We Can Expect 1000 Points Downside Move till 32953
and if Sustains & Trades Above with Positive Bias then it will start its Journey
for First Target @ 50 % (35790). So Retest is Important.
As per Elliott Count, it has completed 12345 Structure & in the Process of Forming ABC.. Out of That
an Impulse Move of A has Been Completed On Election Result Day on 10 March.
Now As Per Pattern Corrective B is Pending On Card &
Then it Will Start Again For Impulse Move for C till 50 % & 61.80 %
You Can See Clear & Deep Picture on Hourly Chart.

Bank-Nifty Hourly Chart Levels

Buy Levels:-
Buy Above 34880
TGT 1 (35374),TGT 2 (35804),
TGT 3 (36252.70)

Sell Levels:-
Sell Below 34094
TGT 1 (33541),TGT 2 (33140.55),
TGT 3 (32948)