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Nifty Bank Index
Long

BANKNIFTY: SYMMETRICAL WEDGE

By VanshikaUdeshi
Updated
BANKNIFTY has made Symmetrical wedge. After the fall in 15 mins chart on 2nd Jan 2024 BANKNIFTY
has formed symmetrical triangle where there is a possibility of breakout. I have given Target and stoploss and reasoning of the target on the chart itself. One should wait for the breakout to happen and then closing of candle above the breakout. If the breakout is in downside direction that is by breaking of upward sloping lower bound then the distance between low and high of the wedge will be the target but on the downside.
Comment
There are high chances of Retesting to breakout levels.
Trade closed: target reached
Our Target has been reached. Kudos to a successful trade.
bankniftyanalysisbankniftylevelsbankniftytradesetupbankniftytradingbankniftywedgesChart PatternssymmetricalwedgepatternWedge
VanshikaUdeshi

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