Ascending channel and Rising Wedge
Diupdate
Its going in a Ascending channel and rising wedge on daily charts.
Ascending channel is bullish but its at the top of the channel there will be a probable trend reversal in short term.
Rising Wedge is bearish.
It went up close to 10% in a week. It probably went up cause of NIFTY FMCG and expectation of good results. NIFTY FMCG went up because of GST, ITC and NIFTY.
It has results on 2nd of august. We should enter after the results depending on the price level.
I repeat dont enter before 2nd of august
Ascending channel is bullish but its at the top of the channel there will be a probable trend reversal in short term.
Rising Wedge is bearish.
It went up close to 10% in a week. It probably went up cause of NIFTY FMCG and expectation of good results. NIFTY FMCG went up because of GST, ITC and NIFTY.
It has results on 2nd of august. We should enter after the results depending on the price level.
I repeat dont enter before 2nd of august
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