NIFTY - Where is the BOTTOM ??? We have a GOOD NEWS !!!
Good day to everyone!
NIFTY price action is trapped inside a Descending Broadening Wedge (Blue lines).
The Good News is that Descending Broadening Wedge is a Bullish or Continuation Pattern.
Since the long term trend is uptrend, the probability of the trend continuation is higher which is bullish.
Where is the bottom?
The price action is currently supported at the yellow support line where I expect the price to recover in the month of July.
Still I am expecting the price to fall back to the Descending Broadening Wedge Support again between September and October which will be the BOTTOM.
This analysis is purely based on the Descending Broadening Wedge and Support & Resistance.
~RPS~
NIFTY price action is trapped inside a Descending Broadening Wedge (Blue lines).
The Good News is that Descending Broadening Wedge is a Bullish or Continuation Pattern.
Since the long term trend is uptrend, the probability of the trend continuation is higher which is bullish.
Where is the bottom?
The price action is currently supported at the yellow support line where I expect the price to recover in the month of July.
Still I am expecting the price to fall back to the Descending Broadening Wedge Support again between September and October which will be the BOTTOM.
This analysis is purely based on the Descending Broadening Wedge and Support & Resistance.
~RPS~
Penafian
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