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Nifty 50 Index

Nifty50 Falling Wedge: Short-Term Bounce or Bull Trap?

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  • Nifty50 is trading within a falling wedge pattern, typically a bullish reversal structure.
  • The daily candle has touched the lower Bollinger Band, signaling a potential bounce, and the RSI at 29 is deep in oversold territory.
  • While the index continues to respect the downward channel, a short-term bounce of at least 1% is likely to fill the recent gap and test 22,800.
  • However, a decisive breakout is uncertain, and this could turn into a bull trap rather than a sustained rally.
VeerappaKaujageri
Chart PatternsTechnical IndicatorsTrend Analysis

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsTechnical IndicatorsTrend Analysis
VeerappaKaujageri

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.