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NIFTY | Rising Wedge pattern spotted

Indeks Nifty 50 (NSE:NIFTY)  
AkhilSuryaFS  
NSE:NIFTY   Indeks Nifty 50
Trend Analysis Chart Patterns Technical Indicators NIFTY nifty50 niftytrend niftyanalysis niftyoutlook niftyshort niftylong nifty50_price_targets niftyreversal
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trendanalysis chartpattern indicator nifty nifty50 niftytrend niftyanalysis niftyoutlook niftyshort niftylong nifty50_price_targets niftyreversal
Rising Wedge pattern observed in NIFTY. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 420 points. With confirmation of pattern occurring at 11950, Target of the pattern comes in at 11530. Though, a retracement towards the pattern cannot be ruled out. Also be aware that 11616 could offer a good support.
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