Nifty Bank Index
Long
Aggiornato

Broadening Descending Wedge Setup?

116
Notes:
  • BankNifty seems to be forming a descending broadening pattern.
  • Statistically (Taking Thomas N Bulkowskis book as a reference) an upper breakout is preceded by a partial decline (as in this case) around 87% of the time.
  • Target in case of a breakout on the upper side would be the top of the pattern which is 35650.



Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

The book came highly recommended by a community member. Its really interesting if you have an interest towards statistics.
Trade attivo
Looking good so far. Hoping to hit the target by the next few sessions.
Trade chiuso manualmente
Missed target by around 0.2%

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