The current formation might look like a falling wedge, but the way moving averages are placed, it looks like a falling wedge which can lead to a parabolic downmove for the marked target.
#CNXIT
More from Aakash Gangwar
Won't be surprised to see 300 in KPIT this year.
#KPITTECH https://t.co/qPLH3li2Yy
#KPITTECH https://t.co/qPLH3li2Yy
Charts for reference. During a downtrend, news based buying is an opportunity to make an exit in most of the cases. #KPITTECH #Hikal https://t.co/63WBMFZ6BT pic.twitter.com/OgWzulTXiD
— Aakash Gangwar (@akashgngwr823) April 27, 2022
Still having the same view. Will update if there is any change. Falling trendline breakout doesn't work that way in a bear market the way it works in a bull market. Updating your methods according to the market is the key.
#nifty50 https://t.co/64ZktWHQev
#nifty50 https://t.co/64ZktWHQev
This is the maximum upside for now, post that I am looking for an 8-9% fall in index.#nifty50 pic.twitter.com/BcSOiwWuBs
— Aakash Gangwar (@akashgngwr823) June 24, 2022
More from Cnxitlongterm
#CNXIT
Weekly chart.
Each Fibonacci retracement level shown in #box likely to be tested in time to come.
#Perspective https://t.co/aDDZJV2KE3
Weekly chart.
Each Fibonacci retracement level shown in #box likely to be tested in time to come.
#Perspective https://t.co/aDDZJV2KE3
#CNXIT-36442#NiFTY IT
— Waves_Perception(Dinesh Patel) \u092e\u0948\u0902Schedule Tribe) (@idineshptl) March 25, 2022
Weekly chart.
Objective is to creat lower top against ATH.(39446.70)
MACD showing negative divergence. Attract selling pressure in time to come.#Probability pic.twitter.com/hPx8SMpeoo