nifty 19th may W-pattern and failing wedge

2023年5月18日

Nifty is in failing wedge pattern if it sustains above 18210 then possibly it can reach 18414 level and there is another indication of W pattern or double bottom forming if it breaks the same level(18210) then it can reach 18418 level easily. From the Feb speed resistance fan it is taking support at 0.382 level(18110) and if it breaks then 18004 is the next support(0.5 level) and if it takes supports at 18110 level then possibly it can reach 18417 level.

I would suggest being neutral and go with the market direction accordingly.

Buy above 18213(18150 CE) Target 18256, 18304, 18343
Sell below 18106 (18150 PE) Target 18054, 18005, 17942

2023年5月19日

註釋

we missed our target 1 on PE side by 5 points.