Nifty 50 stocks study charts

Wednesday, August 20, 2014

Nifty 20 Aug 2014 4:32 PM

                                                                        weekly chart

Nifty is trading in rising wedge pattern on weekly chart as seen in the chart. Today it opened at 7922 where it met with upper trend line of the wedge and then fell from it to close in the red at 7875.
Whenever Nifty met with the upper trend line it fell to touch the lower one (their contact points shown with arrows). 

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