Nifty looks like forming a diagonal triangle , we can see 3-3-3 formation so far,currently 3 wave up is forming ...likely to get resisted at 9520-25 levels. Once done we should move to 9430-35 levels.
Comments
k314
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Sir, As far as my understanding goes one can not draw trendline just by connecting 2 points. There should be 3 or more points to have validity for the trendline. In addition to that the pattern you have drawn appears to be a falling wedge. One has to go long on falling wedge breakout. Shorting in a falling wedge is not recommended. This is opinion.
Correct me if I am wrong :)
VikramGopalAimanda
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@trex88, u got me wrong , actually that pattern didn't play out, after wave e, its a buy agree ...
Correct me if I am wrong :)