This pattern brings up numerous questions about Nifty .
Will Nifty raise till 8279 ?
Will it break the & move-up on breakout ?
Will it retest upper and return to retest lower ?
For all these question its not right time to answer, only guess can be based on experience, which wont help much to figure out where to enter & where to exit.
This pattern can breakout upside if Nifty goes on to 8279 and I will be entering long on pullback only not during breakout itself. ( Am conservative trader,not aggressive)
If Nifty retests 8280's-8300's gives us triple-top I will short the market. For these to happen Nifty needs to break the 8150's-8170's.
If anyone wants to go long do only in 15min or 5 mins (take small trades only) based on your plan and entry rules bcos I won't suggest long here to ride till 8280's in Hourly timeframe.
Happy Trading !
Guys, Please hit likes which keeps Me motivated & energetic to post more ideas on other Stocks for Intraday.
Thanks for your Support :)
We are retesting our upper trendline of wedge pattern, we have marked our zones yesterday & Price in same zone. An important level to watch out, Breakout or False breakout or retest of lower trendline ? We will find out soon...
If Nifty decides to fill in gap's another retest of 8000 possible. Refering to quick pullback correction only.