Hi friends
I am starting this thread to share some technical views on stocks. My plan was to post these on my blog in the forum. Now I realize that the Blogs are one of the most neglected sections of the forum. In order to learn and improve we need feedbacks on our analysis and thoughts from the experts which was not forthcoming from the Blog entries. So I thought of starting a thread, which has more visibility and hence some comments and feedbacks. Of course the idea is not to restrict to my posts only, others too are encouraged to post their own charts and views.
As most of you know my perspective is restricted positional trades since that is what I do.
So without much ado let me set the ball rolling. The first chart is a view on the nifty. The Nifty seems to form a falling wedge. Wedges are one of the most difficult patterns to trade. Also there are many different opinions on wedges. In general a falling wedge can be a continuation or a reversal pattern. But a falling wedge after a long up trend is most likely to be Bullish. Also any breakout would have to with a good volume expansion.
Today the nifty retracted from the top wedge line which would around 4780. If my perspective is right and the nifty does not breakout of the wedge soon we may see the nifty slipping down to 4200 levelsthe lower wedge line
My knowledge on patterns is rather rudimentary. It would be nice if other chart experts like Ashish (Aca Trader) add their comments
Regards
Karthik
I am starting this thread to share some technical views on stocks. My plan was to post these on my blog in the forum. Now I realize that the Blogs are one of the most neglected sections of the forum. In order to learn and improve we need feedbacks on our analysis and thoughts from the experts which was not forthcoming from the Blog entries. So I thought of starting a thread, which has more visibility and hence some comments and feedbacks. Of course the idea is not to restrict to my posts only, others too are encouraged to post their own charts and views.
As most of you know my perspective is restricted positional trades since that is what I do.
So without much ado let me set the ball rolling. The first chart is a view on the nifty. The Nifty seems to form a falling wedge. Wedges are one of the most difficult patterns to trade. Also there are many different opinions on wedges. In general a falling wedge can be a continuation or a reversal pattern. But a falling wedge after a long up trend is most likely to be Bullish. Also any breakout would have to with a good volume expansion.
Today the nifty retracted from the top wedge line which would around 4780. If my perspective is right and the nifty does not breakout of the wedge soon we may see the nifty slipping down to 4200 levelsthe lower wedge line
My knowledge on patterns is rather rudimentary. It would be nice if other chart experts like Ashish (Aca Trader) add their comments
Regards
Karthik
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