Nifty may go down

Nifty Analysis as on 13/09/20 My Nifty analysis has changed drastically after looking at the current pattern. Currently Nifty was undergoing a rising wedge pattern. So before analyzing further let us understand what is rising wedge pattern. Rising Wedge Pattern As the name suggests, a WEDGE shape occurs when the two boundary lines are converging. For the rising wedge, the lines are slanted upwards. It takes typically 3 to 4 weeks to complete. Breakouts occur normally at two-thirds of the way to the apex of the converging lines. After the breakout, prices move rapidly and usually go back to where the wedge began. If the trend of the market is the same as the breakout, the movement is even str

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