Description
⋅ Nifty forming a rising wedge on daily charts. It recently crossed 200 day moving EMA and the crucial resistance at 10,585.
If it does not hold 10,600 levels, it would retrace to 10,000 levels.
Duration for this retracement: 5-6 working days.
If it remains above 10,600 and breaks 10,700 with volume - It will rise to 11,300 levels.
The above analysis is for educational purposes only.