Considering 3 patterns Rising Wedge, Bollinger Band and MACD it looks the NIFTY and the whole Indian Market might collapse.
Rising Wedge - The chart clearly shows a rising wedge a break from that too. So knowing rising wedge, it looks like the market might fall in the coming days.
MACD - The signal and the MACD line seem too stuck to each and considering the already falling pattern, the line might cross over for a fall.
Bollinger Band - The mean line seems to have lost the grip of the candles. If it does happen get a grip it still seems like a falling pattern.
It would interesting to see what happens on 18/05/2020.
Rising Wedge - The chart clearly shows a rising wedge a break from that too. So knowing rising wedge, it looks like the market might fall in the coming days.
MACD - The signal and the MACD line seem too stuck to each and considering the already falling pattern, the line might cross over for a fall.
Bollinger Band - The mean line seems to have lost the grip of the candles. If it does happen get a grip it still seems like a falling pattern.
It would interesting to see what happens on 18/05/2020.
